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Implementing Risk Management Practices to Capitalize on Agricultural Diversification Business Opportunities in Texas

Ashley Lovell

Summary

In response to challenging economic conditions, some Texas producers are diversifying their operations.

The project central focus is “to increase diversified producers’ profitability through workshops and one-on-one consultations providing tools and skills required for business planning and to successfully manage financial, production, marketing, legal and human business risks.”

The AgriLife Extension team and its partners used a “multiple entry – multiple exit” educational program to achieve the project targets. The majority of the participants participated in the Business Planning and Risk Management Workshops conducted during the traditional Extension educational program months of January and February.

The workshop format includes presentations by team members and partners from collaborating entities, case study, participant involvement (initial development of business plan components), round table discussions, and sharing by successfully diversified agricultural managers.

Others have chosen to participate because of the opportunity for one-on-one assistance with business plan, marketing plan, e-commerce, financing or other issues within the realm of business risk management.

Details

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