This article is about agricultural businesses and projects that are taking advantage of new business opportunities. I wish I had the time to write about the hundreds of agricultural enterprises in Maine and throughout northern New England that are doing the same. I find that even in the throws of higher interest rates and irrationally high energy costs, these agricultural, fishing and forest products businesses demonstrate continued optimism. Maybe it’s classic Yankee spirit or maybe it’s the challenging times that inspire families to look at new opportunities. What we all know is that these families are willing to do the hard work necessary to create change in their businesses.

"Change often requires going against the current way of doing things.  It takes a vision, a good dose of courage, a few friends, a little luck and a lot of hard work and perseverance."

As I’ve said many times, Farm Credit is serious about our long-term commitment to change along with the industries we serve. Undoubtedly, most of you have heard about the national Farm Credit project called HORIZONS.

The result of this very important project will impact our natural resource-based industries and communities for many years. That’s why we are not bashful about talking about it. For example, during our annual visit to Capitol Hill this spring, we hand delivered the HORIZONS report (the same one you received) to Maine’s four congressional representatives, and spent quality time discussing the report’s findings with one of our senators and both representatives. They recognize that no other bank or financial institution has such a clear mission to serve rural businesses, and that Farm Credit is a customer-focused, customer-owned business. In addition, we are working with our regulator so we can respond to future requests from customers who want to take advantage of evolving market opportunities.

But whether managing change in a small family business, a large agribusiness, a financial institution or even a public agency, there are times when managers feel like they’re paddling upstream. This is the nature of change. Change often requires going against the current way of doing things. It takes a vision, a good dose of courage, a few friends, a little luck and a lot of hard work and perseverance.

Earlier this spring, I addressed the graduating class at a Farm Credit management development program. Thirty-eight Farm Credit professionals from around the country attended the two-year program including Pete Hallowell from our Presque Isle office and Andy Grant from our Auburn office. I emphasized how important it is for managers to understand human nature and basic communications skills, especially when managing change.

In my closing comments, I read a quote that I’d been given when I completed a similar management development program 15 years ago. I keep this card in my desk drawer near the spare pencils, pens, business cards and paper clips, and refer to it from time to time when managing change. Some of the best advice is timeless!

Raymond J. Nowak
President and CEO
Farm Credit of Maine

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