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Podcast Episode 88: Financial Planning from the Experts

2021 is HERE (Thank Goodness!) Most of us are starting the year off on the right foot by using New Years Resolutions to make healthy changes in our lives. Finances are usually a popular are most people tend to focus on, especially as we are still dealing with a pandemic and quarantine. I thought it would be super helpful to learn from a bookkeeping and farming business consultant to learn more about what goes on behind the scenes, financially, with a farm.

Our guest today is Michelle Patten from Patten Bookkeeping & Consulting. Michelle is an expert when it comes to making smart financial decisions on a farm as well as tips on working with family, which is a pretty important issue to focus on. In our interview, Michelle and I chat about her background, why she chose to help farms with bookkeeping advice, how farms can continue to be profitable, as well as the importance of diversifying your farm without spread yourself too thin.

Thanks to Michelle for coming on the show and being the first guest of 2021! Be sure to check out her consulting business at Patten Bookkeeping & Consulting

Check out Michelle at the links below

Patten Bookkeeping & Consulting

Listen to the episode on the apps below:

itunes  spotify  1200x630wa  Untitled design (2)  Untitled design (1)  1200x630wa  red-sushi-logo.png

Show Notes:

  • Patten Bookkeeping & Consulting
  • Michelle’s background
  • Farm planning and why some farms fail
  • The difficulty of bookkeeping and finances of a farm
  • How to ensure future generations are in good shape
  • How can farms be profitable?
  • Can farms still be profitable during COVID?
  • Michelle’s consultant work
  • 70% of second-generation family businesses fail. Most farms and ranches are family businesses and they are not immune to this unfortunate reality.
  • “3 Ways to Ensure your Family Ag Business Is Passed to the Next Generation” or “Transition Planning for Farmers and Ranchers- Where to Start”.

Call to Action:

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