Farm4Profit Podcast
What to Avoid Doing : Legacy Farmer
Episode Summary
We steal Jace away from his over 300+ clients to share with you 5 tips. The 5 tips are of things not to do in order to keep your farm in great position for many generations to come. Listen in as we explore what not to do and then explain how you can avoid it.
Episode Notes
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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
- Reminder to share contact information