Coaching

RightRisk, LLC coaches agricultural firms helping them solve problems and make changes necessary to reach their goals. We work with business owners and managers when operations are running smoothly, when there is a perceived problem, and when a major change in operations or resource base is being considered.

Because we are intimately involved in agriculture, we know the industry and the opportunities and struggles of individual farms and ranches. Furthermore, we understand the interconnectedness of farm and ranch families with the business.

RightRisk, LLC will put together the best team of our people to work with your firm. After an initial assessment, we are able to draw upon the skills and experiences of our ten members and numerous sub-contractors to provide a plethora of services needed to meet the diverse needs of your business and family.

RightRisk, LLC will help you explore opportunities, better manage your operation, develop succession plans for passing the business onto the next generation, improve communications amongst the management team, and meet your business and personal goals.

RightRisk, LLC coaches clients in all five categories of risk – financial, marketing, production, legal, and human.

Financial Risk has three basic components: (1) cost and availability of debt capital, (2) ability to meet cash-flow needs in a timely manner, and (3) ability to maintain and grow equity. A set of well-maintained financial records are critical to evaluating past performance and planning for future accomplishments. We can help you

• Establish a record keeping system appropriate to your needs and skills,
• Investigate your financial status using generally accepted measurements,
• Develop cost and return budgets for each enterprise,
• Review all financial statements, and
• Provide training to you, your management team, and staff.

Marketing Risk concerns the sale of commodities, direct sales, establishing and maintaining niche markets, promoting new products, and soliciting new clients. We can help you

• Develop marketing plans,
• Conduct market surveys,
• Project the benefits and costs of new markets, and
• Learn how to use marketing tools, such as hedges and options.

Production Risk implies and expected outcome or yield. Major sources of production risks are weather, pests, diseases, the interaction of technology with other farm and management characteristics, genetics, machinery efficiency, and the quality of inputs. We can help you

• Determine the enterprise diversity that fits your business plan. Diversity can include different crops, combinations of crops and livestock, different calving periods, marketing various products at different times, etc.
• Determining the type and level of crop insurance (including revenue insurance) you need to manage your risks and achieve your goals, and
• Evaluate the applicability of new technology to your operation.

Legal Risks cut across other risk areas and are most commonly associated with agriculture under four broad categories: (1) appropriate legal business structure and tax and estate planning, (2) contractual arrangements, (3) tort liability, and (4) statutory and environmental compliance. Although we do NOT provide legal counsel, we have the experience and skills to help you

• Determine the best legal structure for your business,
• Develop a tax management strategy,
• Develop an estate plan that meets the needs of your family and business partners, and
• Better understand the contracts and agreements needed by your business.

Human Resource Risks includes the management of employees, communicating with family members and business partners, providing protection to the business if the manager becomes unavailable to make decisions, working with input suppliers and buyers, and all other people directly and in-directly with your business. We can help you

• Develop job descriptions, establish responsibilities, and determine compensation rates,
• Hire, train, appraise performance, and discipline employees,
• Learn skills for improved employer/employee relations,
• Improve communications for inter-family relationships, especially when addressing “end of life” issues,
• Mediate between you and employees, and
• Develop business and personal goals.

RightRisk, LLC will individualize its coaching efforts
to meet your current and evolving needs.