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There's a simple framework you can follow to help guide your thinking and decision-making when planning for your operation.
Putting together a business plan
for your farm? Here are some tips.
A business plan is like a
compass for your operation.

With a business plan in place, you can refer back to it regularly and ensure you're heading in the direction you want to go. As changes impact markets and your own farm or ranch operation, your plan may need to evolve to keep you on track.

4 Questions To Ask
Here's a simple framework you can follow to help guide your decision-making. Thinking about your operation, ask yourself:
  1. Where are we now?
  2. Where are we going?
  3. How will we get there?
  4. How did we do?
You don't have to do everything at once.
Sometimes the hardest part of planning is getting started. But by breaking the process down into manageable chunks – the goal of completing your plan over the next six to 12 months can be accomplished. At that point, you'll have the core of a plan you can use to maintain progress toward all of your operation's business goals.

As you go through your business planning journey, you can count on the services and the people of RBC Royal Bank® every step of the way.

Learn more about business planning >
®/™ Trademark(s) of Royal Bank of Canada. RBC and Royal Bank are registered trademarks of Royal Bank of Canada.

* NO PURCHASE NECESSARY. Contest is open to Agricultural Producers in Canada. Contest ends April 8, 2018 at 5:00 PM EST. One prize available to be won (approx. value $50,000). Correct answer to skill-testing question required. Complete Contest Rules available at

This article is for informational purposes only and not intended to provide specific financial or other advice. Consult a professional before taking any action so your personal circumstances are taken into account.