

PIOKEER POINTERS 



Managing Uncertainty 



Now that it's spring, with benches 

 filling fast, and greenhouses are 

 ready to explode with color, it's easy 

 to get consumed with endless 

 projects in preparation for the 2003 

 season. 



All too often individuals focus solely 

 on the micro side of their operation 

 and forget to look at the big pic- 

 ture. In order to manage a success- 

 ful business you cannot risk burying 

 your head in the sand. The issues 

 we face today - including the ten- 

 sion with Iraq, the threat of terror- 

 ism and overall economic uncer- 

 tainty - need to be taken into con- 

 sideration when making manage- 

 ment decisions. 



History tends to repeat itself, so 

 those with years of experience 

 should be looking back to prepare 

 for the future. Understanding the 

 impact similar events have had in 

 the past will make a good manager 

 stand out in the event of adversity. 

 For the less seasoned manager, ask 

 questions, know your market, and 

 be prepared to adapt. The following 

 are a few areas that should be fo- 

 cused on as you progress through 

 what could be an eventful year. 



Understand what impact current 

 events will have on your business 

 and your customers, (ex: rising 

 fuel cost not only impact your 

 variable production costs, but also 

 chips away at retail customers dis- 

 posable income creating dollar 

 conscious consumers) 



Examine your current debt struc- 

 ture. With interest rates at levels 

 that many of us have never seen it 

 is important to look at rate strat- 

 egy and risk tolerance. (ex: 

 Weighing fixed versus variable 

 rates, can your current structure 

 and cash flow stomach the transi- 

 tion from a declining rate market 

 to one that is rising?) 



As always, carefully analyze capital 

 expenditures, construction pro- 

 jects, and expansion. Taking on 

 too much debt could potentially 

 effect your ability to survive a 

 down turn and prosper when we 

 see a rebound. 



With variable expenses on the rise 

 it is important to carefully moni- 

 tor costs. At the same time look 



at inventory control. Good inven- 

 tory management leads to stronger 

 profits in both up and down 

 cycles. 



• Record keeping is essential for 

 success. The number of software 

 options available today can sim- 

 plify your life. Take advantage of 

 technology. Accurate records will 

 allow you to make informed deci- 

 sions. 



2003 is gearing up to be an exciting 

 year, focus on what makes your 

 business a success, and continue to 

 educate yourself and your staff. 

 Looking at the big picture will al- 

 low you to position your business 

 for future growth and prosperity. 



First Pioneer Farm Credit provides 

 financial services to the green industry. 

 Their services include record-keeping/ 

 accounting support services, tax prepara- 

 tion/tax planning, credit, leasing, 

 consulting, appraisals and payroll. For 

 more information about any of the 

 above financial services, please call the 

 Bedford, NH branch office at 1-800- 

 825-3252 or check out our website at 

 www.FirstPioneer.com. (S.H.) 



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