Never have I remembered a year that saw the term “volatility” used in every sentence. At the start of 2022, I would have used the word “opportunity,” but as we move into 2023, I would summarize the year more like “that was interesting.”
From transition planning to day-to-day bill payments, knowing the dollar value of your assets is a critical part of managing a farm business.
Values can change drastically over time and space, however. Regular evaluation of farm assets and their worth is important for various best business management practices.
Though there are exceptions (remember Cheetos lip balm?), diversification can offer many benefits.