Oahu Farm Viability Cohort Application

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Thank you for your interest in participating in Cultivating a Culture of Financial Planning and Risk Management: Training and Tools to Support Small Farm Business Health and Longevity!

This is a cohort-based training program that will last 12 weeks and will provide financial analysis and planning tools to reduce business risk for 10 female and beginning farm business owners based out of Oahu.

This form should take about 15-20 minutes to complete if you take time to think about each question and reflect on your business. The information you provide in this application will be used to help set your business and personal income goals and give us an understanding of what type of support would best help you meet your goals. Some of these questions use terminology commonly used in accounting (managerial accounting). If these terms are new to you, please answer them to the best of your ability or feel free to reach out for clarification and assistance. For any questions, please contact Logan Taylor Motas at logan.motas@oahurcd.org.

Email *

Contact Name *

How many years of experience do you have in farming? *

Brand new farmer (0-1 years)

Beginning farmer (1-5 years)

Intermediate farmer (5-10 years)

Advanced farmer (10+ years)

Do you manage your farm business on your own or do you have a partner? *

I have a business partner but I'm the main decision-maker

I have a business partner and I'm NOT the main decision-maker

I don't have a business partner

Are you of Native Hawaiian descent? *

Yes

Contact email and phone number *

What do you identify as? *

Female

Male

Other:

Farm Name (& website if you have one) *

Farm location *

Hawaii Island

Maui, Lanai or Molokai

Oahu

Kauai

Other

How much revenue does your operation make annually?

Less than $35,000/year

Up to $50,000/year

Up to $75,000/year

Up to $100,000/year

Over $100,000/year

Other:

Clear selection

How would you best describe your business plans for the next five years? *

I'd like to increase the amount I can pay myself and reduce the need for off-farm income.

I'd like to determine when my business can support myself and/or my family. Half my current income is from off-farm.

I'd like to maintain the amount I pay myself and determine if I need off-farm income to do so.

I'd like to determine if scaling-up is necessary to meet my financial or quality of life goals

I'd like to determine if scaling-down is necessary to meet my financial or quality of life goals.

Have you setup your chart of accounts (COA)? *

I created "income" and "expense" accounts in Quick Books (QB) but haven't created accounts for "assets" or "liability" accounts

I created "income" and "expense" accounts that I track on a spreadsheet

I created cost of good sold (COGs) "expense" accounts to match each of my "income" accounts in QB

I created cost of good sold (COGs) "expense" accounts to match each of my "income" accounts on a spreadsheet

I track my income and expenses, but don't know what a Chart of Accounts (COA) is and I haven't set one up for my business

Do you have a weekly or monthly routine for reconciling your expense accounts? *

I "reconcile" my expense accounts in QB weekly or monthly

I "reconcile" my expense accounts by going through my receipts manually and tracking them on a spreadsheet weekly or monthly

I need to update the categorize of my 'expense accounts' in my COA so I can start 'reconciling' my expense accounts again

I don't have a good system for tracking or categorizing my expenses?

Do you run monthly Profit & Loss (Income) Statements for your business? *

I run my monthly Profit & Loss reports in QB

I run my monthly Profit & Loss reports using a spreadsheet

I run Profit & Loss reports once or twice a year in QB

I use my Profit & Loss report to make big business decisions

I use Profit & Loss reports to track my projected budget and sales against my actual budget and sales

Required

Do you have a 2023 Budget or Sales Projections? *

I created 2023 sales projections for each income account and budgets based on last years annual Profit & Loss report

I compare my 2023 sales projections & budgets with my actual sales & spending

I created a 2023 budget but just focused on my expenses and did not create sales projections

I created a rough 2023 budget but I don't use it (or at least not routinely)

Required

If you could put a dollar amount on your personal annual income goals, which scenario below would be closest to your goals? *

Annual income up to $15K in 2023 & to increase to $45K by 2028

Annual income up to $25K in 2023 & to increase to $70K by 2028

Annual income up to or over $70K in 2023 & to increase to $150K by 2028

Annual income up to $25K in 2023 & maintain this income through 2028 while bringing in more life balance

Annual income up to $50k in 2023 & maintain this income through 2028 while bringing in more life balance

Annual income up to $70K in 2023 & maintain this income through 2028 while bringing in more life balance

Annual income up to $150K in 2023 & maintain this income through 2028 while bringing in more income

Decrease my annual income to any amount & maintain this income through 2028 while bringing in more income

Other:

What steps actions do you think you'll need to take to reach your personal income goals *

Discontinue revenue streams that have a negative profit margins or low contributions margins

Increase the sales for my revenue streams that have the highest profit margins or largest contribution margins

Decrease expenses or "cost of goods sold" (COGS) for specific revenue streams

Decrease expenses for my overall business (e.g. operational expenses)

Improve my cash flow by being more on top of my invoicing and accounts receivable

Other:

Required

What are your top three personal income and quality of life goals that you have for your business over the next five years? *

Do you have the flexibility to commit to 12 weeks of your time, starting in April with a one-on-one consultations with the a bookkeeper and three in-person training events the first week of May 2023, and frequent communication with fellow cohort members and program managers to help you reach your personal income goals? (Please see the tentative schedule at: farmviability.oahurcd.org). *

Yes

Other:

What are some your personal income goals that you have for your business in the next five years? *

Do you have the flexibility to complete homework that reinforces learning and encourages you to apply it to your own business? Can you make time to watch the foundational training video? *

Yes

Other:

Are you interested in developing competency in bookkeeping consistency, financial analysis, opportunity assessment, budgeting, goal tracking and the ability to assess challenges, adjust operations, and evaluate progress to improve your risk management decision making and economic viability? *

Yes

Are you interested in working with other local farm business owners as part of a cohort to set financial targets for your business, personal income and quality of life goals and to use key metrics to assess and track your performance towards your goals?
*

Yes

Do you currently have liability, property or crop insurance? Are you interested in reducing your risk by learning more about insurance options? *

Yes

Other:

Please note your knowledge/use of QuickBooks *

I've heard of QuickBooks, but use a different service for business management

I am just getting setup in Quickbooks

I've used QuickBooks for over a year to track expenses and sales

I use QuickBooks to run monthly finance reports and make business decisions

Are you currently enrolled with the Farm Service Agency? *

Yes

I don't know

Are you familiar with the Whole Farm Revenue Protection (WFRP) or the Micro Whole Farm Revenue Protection (Micro WFRP)? *

Yes

I don't know

If accepted into the cohort, I'd like to accept a $500 honorarium to cover any expenses that I incur to participate in this training (e.g. Child or elderly care, cost to purchase Quick Books etc.) *

Yes, I'd like to accept the honorarium

No, I would not need to accept the honorarium and would prefer it goes to another cohort member

A copy of your responses will be emailed to the address you provided.

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