Funding the startup of a new dairy operation or the transition of an existing farm can be a tall task for any producer. Remember the “five C’s of credit” – a checklist of factors for producers to consider when securing funding for an agricultural business venture.

The words and actions of leaders shape the culture of businesses, families and even societies. Leaders have powerful effects on individuals too, instilling thoughts and behavior patterns that may last for a lifetime. Leadership is a privilege, and it should be exercised with care and attention to how it affects others, both immediately and long term.

I began working with Jim, Karen and their three sons (Abe, Brett and Chad) last spring. The five had been partners* (joint owners) for the last six years. They knew they needed a buy-sell agreement, but they hadn’t been able to agree on some of the key provisions – chiefly, how ownership would transfer to widows should something happen to one of the sons.

Dairy producers must be efficiency experts at every phase of the game. And while it is “all about the cows,” dairy operations that focus on improving economic efficiencies as they manage their books have a competitive advantage. In the dairy industry’s unique market, streamlining operations goes a long way to ensure long-run viability.

Pinch points – every facility has them. They are the areas in your existing operations where efficiencies die. Daydreaming about new robots, innovative irrigation systems or a new rotary parlor can be fun, but in today’s dairy industry, cash reserves and line of credit availability are not as abundant as they have been in the past.

A 450-cow dairy in Hawley, Minnesota, will be test-driving a body condition scoring camera in 2017 as soon as its remodeled freestall barn and new milking robots are installed early this summer.

Why? Why do consumers choose to buy a particular product? Why do they avoid others? What motivates their food-buying decisions? Where are consumers having conversations about food and who is leading those conversations?

Dairy producers make decisions on cows every day. And some of those decisions are based upon milk production. Normally, this might be a monthly DHI test or data coming off an electronic metering system. But how do you really know what that cow means to your bottom line?

Immigrant labor is a necessity on today’s dairy. From small farms that employ one milker to dairies with hundreds of workers, producers are watching the Trump administration with caution and facing the daily reality of operating their business under a broken system of immigration.

Last year, the nation’s dairy farmers produced in excess of 30 billion pounds more milk than they produced 10 years ago. In a recent publication (Agricultural Projections to 2026), the USDA suggests milk production will increase at an even faster rate during the next 10 years.