Farm4Profit Podcast1 Aug 2022

What to Avoid Doing : Legacy Farmer

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5 ways to ruin your family farm https://www.legacyfarmer.org/about

Jace Young, our Founder and CEO, is a Western Kansas Farm Kid and Ex-Ag Banker turned Entrepreneur focused on helping American Farmers and Ranchers build an organized, structured, and profitable operation that they can one day pass onto their children and grandchildren. As an Ag Loan Officer where he realized that very few Farmers had the financial organization, structure, and systems in place that would help their farms survive and thrive for generations to come. Today, he works to help Farmers streamline the entire financial side of their operation so that they leave behind a profitable and sustainable Farm Operation

We are going to explore five common pitfalls family farm owners and operators make when running the farm, and if these five pitfalls go unchecked, the farm will certainly be on the path to failure.
What do you tell someone who says they can’t ever get away on vacation?
#1 – Micromanaging
Why is this such a big deal?
What can we do to do less of it? (provide clear expectations)
#2 – Be Centralized
What does this even mean?
What is the opposite?
#3 – Zero training
Is this just for employees?
Can you train the people and vendors you work with? – communication and expectations
What about family or spouses?
How do you train someone to answer they own questions or solve their own problems?
Don’t bring me a problem, bring me a solution
Allow them to make mistakes
#4 – No mission statement or core values
Do we really need this on a farm? Banks have it, but really for a farm?
Why is this important?
How does this effect hiring?
#5 – Be Selfish
Now this seems backwards…….why? how?
What happens when you don’t do all 5 of these things?
What happens if you’re only unable to not do a couple of them?
What are you top clients doing better than anyone else?
What is Legacy Farmer?
What trainings do you offer, programs do you have, and other resources are available?
What’s the best advice you have every been given?
Summary
Challenge
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