So, you decided to start a farming business—growing livestock not just for yourself, but for the greater community. You think you’re ready because you know how to work with the soil? Have you seen the risks of dealing with intellectual challenges? Are you ready to face uncertain finances? Are you really willing to give up the corporate world, switch in your suit and tie for sturdy boots and a dilapidated hat?
First of all, I want to congratulate you. The world needs more people like you. According to reports, there are currently more bus drivers than farmers in the United States today. At first glimpse, it might seem like a subjective statistic. Just try to ask which is more likely to happen first, a bus driver who needs to eat, or a farmer who needs to ride a bus? Of course, food comes first in the human physiological needs.
Everyone deserves to eat nutritious food. This is why you need we need well-established farms. And to reach these goals, you need to do a lot of research. Owning a farm is a commitment. Before you make a decision, you should understand the risks. Many farm owners become successful not only because they are good business people, but they also have the passion to what they are doing. So, before you make a decision, try to anticipate the consequences. Again, it may take a while for you to get the cash flowing.
If you are really serious about this path, here are some rules to remember. Following these guidelines may not guarantee your success, but they may put on the right path to economic and agricultural sustainability. Read on.
Rule #1: Pay your debts
For over the years, debts have tanked more farms than drought, pestilence, and plague combined. As I mentioned earlier, it’s not just about learning how to raise farm animals. It involves financial management as well. Even those who are top producers are experiencing financial crisis due to finance mismanagement. So make sure to pay your debts on time.
Rule #2: Allow yourself the opportunity to fail
Wait, what? This was supposed to be about not failing, so why am I saying failure is an opportunity? Well pretty ironic, right? Just hear me out. The problem with us is that we are so obsessed with failure to the point that we are already terrified and have adapted to the concept. And because we are so afraid of failing, we tend to not do anything at all—meaning, we just play it safe all the time even if you know you have bright ideas that can cultivate your assets. This is why I strongly suggest to everyone out there, take the risks! If you think you have better ideas, then get out of your comfort zone.
Rule #3: Know your market
Just like any other business, you need to identify your market. At first, you need to decide on which animals or plants you want to raise—whether cattle, cucumbers, or start a sauerkraut business. Check the products that are in-demand in your area. Observe the community. What do they need? What are the top selling products? This will help you determine your target market.
Again, running a farm is not that easy. It takes a lot of will to be successful with your goals.