Take the Farm Viability Quiz
Take this survey as a self-assessment of your current understanding of financial planning practices and skills which you can use to increase the viability and long-term health of your business.
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Results from your Cost of Production Quiz
If you answered “No” to questions 1-6, you likely havenʻt had time or need to increase your understanding for using financial planning and projections tools.
If you answered “No” to questions 7-10, you could benefit from developing healthy business practices for running monthly and annual financial reports. Youʻll also want to set aside time to assess these reports and make decisions to maintain a viable course for your business.
If you answered “No” to questions 11-12, you likely havenʻt had the time or need to develop your skillset to develop a 5-10 year plan and budget to weather the ʻups and downsʻ of your business.
Break-out sessions recommended for you at the Skill Share! Virtual Resource Fair
If youʻve answered “No” to many of these questions, you may consider attending the break-out session led by Rebecca Frimmer of Kitchen Table Consultants. This break-out session will be one of the ways you can ʻtake care of businessʻ at the Skill Share! Virtual Fair. If you havenʻt already, please register for the Skill Share! event and signing-up for this session as part of your registration process. In addition to the break-out session with Kitchen Table Consultants you can also choose from break-out sessions with: The Kohala Center, Go Farm Hawaii, Slow Money Hawaii, FoundHer, FSA, CTAHR NRCS Farm Bill Programming & Micro Whole Farm Revenue Program. Please visit Zoom to register for these break-out sessions. If you have any questions, please email: Logan.Motas@oahurcd.org.
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Question 1 of 12
1. Question
1. I use Quickbooks or another type of bookkeeping software.
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Question 2 of 12
2. Question
2. I know how to run financial ratios to assess and make decisions for my business.
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Question 3 of 12
3. Question
3. I know how much income I can pay myself from my business and if my farm business can support me full-time or if I need off-farm income.
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Question 4 of 12
4. Question
4. I know how to assess if scaling up will help me reach my financial and quality of life goals.
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Question 5 of 12
5. Question
5. I know how to use opportunity assessment tools to determine if investing in new machinery or infrastructure will pay-off or not.
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Question 6 of 12
6. Question
6. I set monthly/quarter sales targets to meet my financial goals and run reports to assess my actual sales to know if Iʻm on target.
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Question 7 of 12
7. Question
7. As part of my best business practices, I run and analyze a monthly Profit & Loss Statement.
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Question 8 of 12
8. Question
8. As part of my best business practices, I run and analyze a monthly Balance Sheet.
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Question 9 of 12
9. Question
9. I’ve created a budget for my profit and cash flow.
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Question 10 of 12
10. Question
10. I have a system for managing my production costs and budget.
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Question 11 of 12
11. Question
11. I’ve set up my budget to absorb short-term financial shocks and have a 5- 10 year plan to weather the ups and down years of my business.
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Question 12 of 12
12. Question
12. I have a plan to maintain and grow equity in my business.