Farm4Profit Podcast

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**Farm4Profit Podcast**

Our mission is to provide farms and operators an independent and unbiased outlet for information related to increasing the profitability of their farming operation. We will be providing farms and operators of all sizes and experience levels access to the latest trends, projections, and the tools necessary to increase farming profitability. We will take each episode to deliver latest news, what’s working for active farms, and a topic of focus each episode. Remember, if you aren’t farming for profit you won’t be farming for long.

Latest Episodes:

How to Grow Your Farm Jun 01, 2020

Show notes

Ways to help expand your farming operation

Introduction
Answer questions
- Listener Question: How have others been able to grow their farms? I’d be interested in knowing what have been working for others to grow!
  - Reminder to submit your questions to farm4profitllc@gmail.com
Guests
- Corey Hillebo @corn_porkNbeans
- Q Connealy @Qconnealy19 wakeboardingfarmer.com
What’s working in Ag?
Just that, how about we jump right into it this week and share from our network strategies, tips, and techniques that have helped them grow their farms! We heard back from over 30 listeners, friends, and those on twitter about how they were about to grow their farms.
We’ve put together over 20 headings for ways people have picked up ground or expanded their operations and will be breaking it into two different episodes for you.
No Silver Bullets, but we can share examples that have worked
Purchasing the land
- Auction
- Land Listing
- Private Sale
  - Pre-determined price
  - Creative Land Contracts
    - 20 year contract that started at a reduced price, with low interest rate and payments are based of the ISU Cash Rent Survey – payment flexibility @stalzer20 – Matt Stalzer of Haverhill, IA
  - Most logical buyer – land next door
  - First to become aware of the land for sale
Custom Farming @plotner_mike Mike Plotner Union County Ohio
- Purchased a combine in high school to do custom work which got his name out. Worked on growing his mechanical and business skills.
  - Negotiation
  - Breakevens
  - Preparedness
    - Stepping up in times of need
    - Being timely
  - Doing a good job
- Custom farming can lead to other forms of expansion too @mikebelan3 Mike Belan Lambton County Ontario
  - More custom farming acres
  - 50/50 crop sharing
  - Rent when done taking the risk
  - Sale when ready to get out
    - Let your hard work and quality job show off
Run your farm like a business
- Hire out what you aren’t good at. Do what you do best and find someone else to do the rest
  - 360 review
  - People will notice from the outside in
  - Positive perceptions will go a long way
- Focus on doing better on the land that you have now to maximize the profitability there. Then take the profits from your current operation to purchase more in expansion. Anonymous - Central Kansas
- Taking advantage of the discounts and package deals that come with larger acres and negotiating power.
Taking care of what you already have and doing a good job
- Mowing ditches and water ways
- Removing or building fences
- Practicing the latest technologies or conservation
  - Farmer did strip till and cover crops. Land lord noticed that liked the program and offered the land for rent if he continued those practiced – anonymous Iowa
- Clean and maintained equipment and acreages – nothing has to be new
- “Keep Doing a Good Job and Someone will Notice” - @gbahan Gary Bahan Central Ohio
Build strong relationships with current landlords
- Keep in contact, share updates on their land, and show what you have been doing to benefit them.
- Share your intentions as a farm, if they don’t know what you want to become how can they help you get there?
- If you treat them well they may tell other land lords and it could expand that way. @landon707 – Landon Friesen Crystal City Manitoba CA
- Landlords are most likely investors; if you can show them how you can help make them more money, then they will help you make more money.
- Share soil tests and yield data
Effectively including multiple generations
- Impression of a successful family farm will provide positive views from land lords
  - Wished they had that in their family
  - Remember having it from their parents
- Gives you the ability to delegate, connect more frequently with less effort, handle more tasks
Advisory Team and Network Referrals @MarkPGuy North Central, IA
- Agronomy Suppliers
- Connections to extended family
- Advisory Team
  - How will they know to send you referrals if they don’t know your growth goals?
- Farm Managers
- Lawyers – Estate Planners
- NRCS Office – Anonymous North Central Iowa
  - Had been utilizing the EQUIP program and attending meetings about soil health. Was being social and recognized.
Having a Good Lender – not conservative – knowledgeable of options
- Being able to take advantage of situations when they come up is half the battle. You might get an offer, but if you aren’t financially well positioned at the time the answer might have to be “NO”
- Knowing what loan packages are available with the FSA or USDA offices can help @HotMessFarms Brittany Willbanks - Missouri
  - Beginning farmer loans for purchasing equipment and livestock
  - FSA loans for purchasing farm ground
  - Applying for beginning farmer credits on rental agreements and land sold on contract.
- A creative banker might be able to help tie in additional collateral to get the deal done
Luck – Better lucky than good @Qconnealy19 the wakeboarding farmer from Nebraska
- Born in to the right family
- Good relationships by older generations
- Landlords or family members that prefer farmland as an investment
- Online fame
- It’s almost like lightening striking, I would hate to be a kid again to try and make what happened happen again! - @Dylangrieco – Chad West Central Iowa.
BAD Examples
- Over Paying
- Ambulance Chasing
- Letters to Nursing Homes
  - Letters from like that from Tillable
- Referral Fees to Funeral Homes
- Sleeping with land owners wife
  - Marrying a widow
  - Taking her special pizza
  - Eating her “edibles”
- Long lost family members
- Social Media Famous - Wake boarding in the fields and ditches for social media fame
Trusting in yourself
- Know your farm, know your business
- Be honest and accurate with your numbers
- Having fear, anxiety, and nervousness is natural for moments of growth
  - You’ll have 100 reason not to stick your neck out, but trust in yourself when the time is right and the opportunity is right, do it.
- A good advisory team will help you sort through these situations
- Have your farm positioned at all times for growth, don’t get over extended because you never know when the opportunity will come up.
Being a good neighbor
- Pay your respects if condolences are necessary, but be sincere. We’ve heard of ambulance chasers……sometimes though a true friend, shoulder to cry on, or plain old support can go a very long ways. A lot of my connections refrain from this for fear of being labeled the ambulance chaser….if it’s sincere your conscience will be clear
- Help fix fence and do chores for livestock – help on or organize field help if a neighbor needs it - anonymous , North East Missouri
- Join them for pie, take them pizza, drive them to bingo
- Offering a helping hand when someone needs help. Cutting trees, fixing equipment, or cleaning out grain bins.
- Don’t ignore the women, treat them with respect. They typically live longer.
Be Faithful @mullerfarms Clayton Muller
- Connections through religion are typically very strong
- Give glory to God and build the trust of those that surround you.
- Being patient and faithful that you are doing right in this world.
  - What goes around comes around
Clubs, Boards, Leadership
- FSA boards
  - Served for a period of time with a spouse of a future landlord. Treated her and other board members with respect and it was never forgotten. When the farmer retired he remember the kindness and respect presented and offered the farm – anonymous North Central Ohio
- Church Boards
- F-H & FFA Leadership – Fair Boards
- Volunteering
  - The key to all this is demonstrating the golden rule, being timely, confident, kind and respectful
- Being a pillar in the community a person of strong character @rjfran23 – Randy Francois “Francis” Eastern , IA
Honesty and Integrity – Anonymous SW Kansas
- Having professional conversations with current farmers (aging) or land owners.
- Being honest in the conversation about wanting to rent or buy
- Be clear about your goals and expectations of growing your farm
- Ask politely for the opportunity to farm their ground when it becomes available
Farm marketing/Branding – Anonymous Central Iowa
- Facebook
- Websites-Technology -Tillable
- Be where your audience will be
  - Farm Managers
  - Attorneys
  - Real Estate Agents
- News Letters
- Field Days
- Sponsored meetings
  - Can you hire someone to do marketing for your farm?
  - Should this person be on your advisory team?
Being the apparent expert
- Interviews for papers and publications
- Hosting/Sponsoring land owner meetings
- Hosting/Sponsoring field days
- Becoming a public speaker for conferences and meetings
- Holding a political office
Strategic Hiring/Networking
- People with advanced skills
  - Sales, marketing, agronomy, prescriptions, etc…
- People with strong networks
- People related to rich land owners
- Farm Manager
You can’t complain about market pricing
- Rent prices – if a landlord offers you may have to adjust your farming operation to make a profit in order to make the rent requested work
- Commodity prices – landlords won’t want a tenant who “can’t figure it out”
  - Focus on knowing your break even and becoming the most efficient that you can. It will afford you to pay higher rent and grant you a larger margin on rent that is below market.
- Slander on a neighbor doesn’t usually get you very far
Using Technology – Take advantage @Citrowske_L Lance SW Minnesota.
- Technology that is available to make you more efficient.
- Technology that produces accuracy – reporting
- Demonstrate superior knowledge
  - Intellifarms bin management
  - Writing scripts
  - Yield Maps
Be patient, “Rome wasn’t built in a day” – growth takes years - @michael_bergen Michael Bergen, Aurora Nebraska
- You will get passed up, but your attitude when that happens will be noticed
- Don’t get bitter, be happy for those who do grow, and that will get noticed
  - Also, lending a hand to the neighbor and being a positive person will probably get you better rental rates when the opportunity does come out
  - It helps keep life more fun too
Summary
- Be Patient
- Use Technology
- Quit Complaining
- Strategic Hiring
- Be the Expert
- Marketing & Branding
- Honesty & Integrity
- Local Leadership
- Be Faithful
- Be a Good Neighbor
- Trust in yourself
- Luck
- Having a Good Lender & beginning farmer knowledge
- Advisory Team/Network Referrals
- Multiple Generations
- Build good relationships with current landlords
- Take care of what you have now
- Run your farm like a business
- Custom Farming
- Purchase it
Challenge
- Come up with something
- Leave an idea for bad examples of ways to pick up ground on our social media pages to make this fun! @farm4profitllc
Closing
- If you liked this episode please like, rate, review and share!
- Check out the other archived episodes and leave us your comments.
- @farm4profitllc farm4profitllc@gmail.com

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Don’t forget to like the podcast on all platforms and leave a review where ever you listen!

Website: www.Farm4Profit.com

Shareable episode link: https://intro-to-farm4profit.simplecast.com

Email address: Farm4profitllc@gmail.com

Call/Text: 515.207.9640

Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw

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Farm4Profit Media is not a financial, legal, or tax advisor. Content is provided for informational purposes only, and we serve solely as a platform for third-party opinions. Any actions taken based on this content are at your own risk.

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Farm4Fun - Fenceline Beer Lab w/ Corey Hillebo, Backyard Chickens and More May 25, 2020

Show notes

www.Fenclinebeerlab.com @FencelineBeer

Pickett Cream Ale

Double Kickback Double IPA

Plortercale Ale

Pink Denim

https://www.pinkbootssociety.org/

Backyard farms – chickens, pigs, calves……

What happens when they die, too much work, fences break, manure needs hauled?

Free Range chickens like Hawaii? Dogs and cats like China?

Burgers on the fly – food delivery services. How far can delivery go? Packages, food, medical, booze, etc….

Advice you’d like to give someone in their 20’s….. (ask each guest)

“When She Asks You” What do farmers think about in the cab, during the day, in isolation (ask each guest)

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Don’t forget to like the podcast on all platforms and leave a review where ever you listen!

Website: www.Farm4Profit.com

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Email address: Farm4profitllc@gmail.com

Call/Text: 515.207.9640

Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw

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Using a 10x Growth Mentality to Get to More Profit May 18, 2020

Show notes

Think 10x rather than 2x for more farm profits.

Introduction
- Like, rate, review, share
Answer questions
- Farm4profitllc@gmail.com
- @farm4profitllc
What’s working for Ag – listener or farmer feedback
- Using social media-long distance connections to help with repairs, parts searches, business advice, etc……
Introduce Guest-------Chad Hutson
- Owner of HT Plumbing. Locally-owned and operated since 2003, HT Plumbing has been providing residents and businesses in Ames, Huxley, and the surrounding areas with quality plumbing installation, repairs and servicing for years.
- We’re excited to have Chad here to talk with us about the growth mentality with his leadership experience and insight from the Goldman Sachs of the second Iowa class of Goldman Sachs 10,000 Small Businesses. He was one of 36 scholars from across the state to complete the program.
What’s been working in Chad’s business?
Our main topic for the day is creating the growth mindset! It’s a lot easier to think 10x vs 2x when thinking about growth and progress
- Heads will shake and you might think about turning this episode off, but wait….. This is a mindset that has proven to work and create laser like focus on growing your farm’s or business profitability.
Reaching for 10x rather than 2x Immediately has an impact on YOUR
- Thinking
  - After seriously engaging in a growth goal of 10x and its locked in your brain
    - Brain gets locked in on a goal and visual then
      - Intellectual engagement
- Emotional Commitment
  - You will need to hurdle the previous beliefs……if you think it’s hard that is the first thing that needs to change
  - Challenge those beliefs and grow/develop new ones
- Ability to Innovate
- Decision Making
  - How quickly they are made
  - Clarity of thinking
- Communication
  - How we talk to others
  - Who we talk to
  - Efficiency of conversation
- Actions
  - Let go of stuff, tasks, roadblocks
Before you make/believe a goal or target; Your mind is on “everything” and everything else, but once you make the 10x commitment your brain begins to filter everything you do and think about through that goal.
- Does this belong on the path to the goal?
  - Yes, move forward
  - No, dismiss
    - Totally/Completely
      - Stop doing the task, action, chore, etc….
      - Trash the idea or connection
    - Task to others
      - Delegation to others
      - Outsourcing to a 3rd party
- Exercise to help you thinking about this…..Stop now and begin looking around the room and look for something blue, now close your eyes and tell us what you saw that was red.
  - Brain doesn’t see the red……brain filters it out
- Think back to sitting in a Movie Theater, were you engrossed in the movie and you don’t notice the squeaky seats or chomping popcorn? Or as soon as you heard the chewing it was all you could focus in on and it’s all you heard?
  - Thinking 10x and focusing on the 10x goal turns your brain in to that filter and you begin to see the things that are getting in your way.
You have to have commitment from yourself first
- The plan has to start in your brain
  - You have to believe it
- Then make its way to paper
- Then it gets shared with people you trust
- Then you can put it into action.
  - Have an advisory team surrounding you to hold you to your goals and steps along the process.
10x Mindset makes you
- Have a total different way of looking at the world
- Forces you to connect all of the resources you have together
  - Efficiency
  - Network
  - Money
    - You must break even at best to grow….have to farm for profit
- You must be open minded
  - You won’t be able to get there on your own. Your way of treating and engaging people will changed by necessity.
    - Relying on advisors
    - Relying on employees
    - Relying on credit
- When making purchases and sales you now have a clear vision
  - Focused in on whether this decision will
    - Help me get to 10x
    - Prevent me or prolong me from getting to 10x
      - No longer trying to sell the whole market place and your results focused decision making
- Understanding Leverage
  - Less is more
    - Doing more with less of your effort
      - Tractors, pulley, etc….
  - Use leverage for money
    - Borrowing from banks
    - Borrowing from an investor
    - Borrowing from the government
      - A clear vision with well written plan will make seeking the funds easier
  - Use this for other people
    - Cleaning the sheds
    - Chores
    - Mechanics
    - Using their knowledge and expertise
      - Guest Question: What are ways that you can discover the talents of the people that you have working for you?
  - Using systems
    - Routine tasks
      - Accounting, HR, Chores, Maintenance
    - Marketing
    - Sales
      - Create a method
    - Purchasing
      - Requests for Proposals (RFP)
Summary
- It all starts with you and your mindset. Think about what 10x looks like to you and put a plan together. Once you have a clear goal and commitment to yourself the decision making process becomes clearer. Will this help me reach my goal or will it set me back. You must start by breaking even, but ultimately generating a profit is a must to get to 10x. Once you’re in the 10x mindset begin to leverage the resources that you have to reach your goal.
Challenge
- Challenge is to think about what 10x means to you and your farm or business. Do you want 10 times the number of livestock, number of acres, amount of net income, free time, etc….. Then continue by writing it down. It will evolve, but that is part of figuring it out!
Reminders
- Rate, Like, Review, Share – this one especially because it’s for more than just farmers
- Send us your topic ideas and discussions
- Farm4profitllc@gmail.com

Want Farm4Profit Merch? Custom order your favorite items today!

https://farmfocused.com/farm-4profit/

Don’t forget to like the podcast on all platforms and leave a review where ever you listen!

Website: www.Farm4Profit.com

Shareable episode link: https://intro-to-farm4profit.simplecast.com

Email address: Farm4profitllc@gmail.com

Call/Text: 515.207.9640

Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw

Follow us on TikTok: https://www.tiktok.com/@farm4profitllc

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Positive Vibes During a Negative Time May 11, 2020

Show notes

David and Tanner talk about #thankafarmer and the effects it has on spreading awareness, positivity, and creates a divide. In the end they conclude in a stressful and uncertain time being able to stay positive is the first step to success! Want Farm4Profit Merch? Custom order your favorite items today! https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.com Shareable episode link: https://intro-to-farm4profit.simplecast.com Email address: Farm4profitllc@gmail.com Call/Text: 515.207.9640 Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw Follow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Farm4Profit Media is not a financial, legal, or tax advisor. Content is provided for informational purposes only, and we serve solely as a platform for third-party opinions. Any actions taken based on this content are at your own risk. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Communicating Your Way To More Profit May 04, 2020

Show notes

We try to communicate to you how communicating effectively can directly effect your bottom line. Working to make sure lines aren't getting crossed and your directions are clear will save you time, money, and accidents! Want Farm4Profit Merch? Custom order your favorite items today! https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.com Shareable episode link: https://intro-to-farm4profit.simplecast.com Email address: Farm4profitllc@gmail.com Call/Text: 515.207.9640 Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw Follow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Farm4Profit Media is not a financial, legal, or tax advisor. Content is provided for informational purposes only, and we serve solely as a platform for third-party opinions. Any actions taken based on this content are at your own risk. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Investing for Residual Income Apr 27, 2020

Show notes

David and Tanner have a conversation around ways to invest inside and outside of agriculture that provide residual income. The conversation flows freely through many different examples. Want Farm4Profit Merch? Custom order your favorite items today! https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.com Shareable episode link: https://intro-to-farm4profit.simplecast.com Email address: Farm4profitllc@gmail.com Call/Text: 515.207.9640 Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw Follow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Farm4Profit Media is not a financial, legal, or tax advisor. Content is provided for informational purposes only, and we serve solely as a platform for third-party opinions. Any actions taken based on this content are at your own risk. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

What to Sell, When to Sell, and How to Sell It Apr 20, 2020

Show notes

What, When, and How should I Sell it?

Introduction – thank you for your time and feedback
Listener left us a review on Twitter : “Nice little podcast here. Bend an ear to this episode talking about the sociological impacts pre/post epidemic “
- Remind them how to submit questions and topic suggestions
  - @farm4profitllc
  - Farm4profitllc@gmail.com
Answer questions – COVID-19 in the cab, what do I do if an employee reports positive and they have been running my truck, tractor, floater, etc…..?
- The guidance we have is to protect yourself from employee/employer legal actions you must take reasonable action to make the environment safe before someone else can enter that piece of equipment. The employee must quarantine for 14 days and any other individual they came in contact with. We also learned there is a “FOG” that can be released in the cabs once the air has settle to kill the virus. Once the fog disappears you can go back to operating the machine.
What’s working for Ag – In10T AG - https://in10t.ag/ - Kevin Heikes - @kheikes on Twitter
- Discovered you via Tweet with Tim Hammerich about giving hats away…… just so you know the cost of admission on the F4P Podcast is two hats!
  - Kevin Heikes is the Chief Operations Officer and CO-Founder of In10T AG
- IN10T is an independent, farmer-centric, data driven company focused on partnering with farmers to test and learn the benefits of innovative agricultural products and solutions. Elaborate …….
- IN10T helps innovative clients accelerate the time from scientific discovery to successful farmer adoption by leveraging farmer feedback, data and technology. Elaborate ……
- Please provide us your background, expertise, and the business history…..
- Company Focuses
  - Product Performance
    - FarmTrials Network
  - Farmer Experience
    - Clients walk in the shoes of the farmer
  - Market Strategy
    - How do we get stuff to the farmers
  - Digitally Powered Information
    - Putting it into the cloud?!
- How many acres have you tracked or farmers have you impacted?
- What are you most excited about for In10T in 2020?
- How could your business help farmers achieve higher levels of farm profitability?
- Anything else you’d like to share?
Main TOPIC: What are we going to do now? I have to liquidate to get cash now…….What, When, and How!?
- This will be an episode where I let David handle sharing the information and I’ll try and pry a little deeper for the listeners
- This episode is going to be listened to throughout the year so let’s go either by topic or by season.
- Equipment, Vehicles, Livestock, Land, or Personal Goods/Homes
  - What can I sell the fastest to get cash now?
  - What will most likely be the most stable as far as value?
  - How do I know if it’s something I should be selling or if I should hold it?
  - Is there something that has been holding its value or appreciating?
    - JD 4960, quad tracks, land, smart planters, JD 8xx0-8x20
- Spring, Summer, Fall, Winter
  - Which is the best season to sell?
  - Do different things sell better in different seasons?
    - 4wd’s, Land, Livestock, Planters, Sprayers etc…..
- Trade it, List it, Auction it, Donate it
  - What are the differences between the options?
  - Which options can I do myself and which options to I need a professional
  - Are their different ways to list or auction?
    - Live, Online, FSBO, Facebook, Auctiontime, HiBid, Etc…
  - Is one way better than the other to sell for an asset type?
- What if I am looking to buy?
  - Advice for equipment
  - Advice for real estate
  - General Advice
- What would to say to the farmer with a house, shed, and grove full of stuff that doesn’t believe in selling?
- What are somethings people can do to get the most value out of what they are selling?
  - Wax
  - Pictures
  - Get it running
  - Stage it
  - Service Records
- What if I have a loan on the property I want to sell?
- Any other general advice?
Summarize
- Take notes during the interview to summarize. Hit on how important using technology can be on the farm. Tie back the obvious to growing farm profitability.
Challenge
- Spell out steps for them to begin taking action. Refer to the points made by the presenter.
Conference Update
- Looking for ideas for great speakers
  - Farm4profitllc@gmail.com
Submit questions and topic suggestions
- Like, Rate, Review, Share

Thank The Listener

Want Farm4Profit Merch? Custom order your favorite items today!

https://farmfocused.com/farm-4profit/

Don’t forget to like the podcast on all platforms and leave a review where ever you listen!

Website: www.Farm4Profit.com

Shareable episode link: https://intro-to-farm4profit.simplecast.com

Email address: Farm4profitllc@gmail.com

Call/Text: 515.207.9640

Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw

Follow us on TikTok: https://www.tiktok.com/@farm4profitllc

Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/

Hosted by Simplecast, an AdsWizz company. See pcm.adswizz.com for information about our collection and use of personal data for advertising.

7 Notes to Your Farm Transition Song Apr 13, 2020

Show notes

Tanner and David review an article from the Iowa Farmer Today about suggestions for preparing for your farm to transition to the next generation. Want Farm4Profit Merch? Custom order your favorite items today! https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.com Shareable episode link: https://intro-to-farm4profit.simplecast.com Email address: Farm4profitllc@gmail.com Call/Text: 515.207.9640 Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw Follow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Farm4Profit Media is not a financial, legal, or tax advisor. Content is provided for informational purposes only, and we serve solely as a platform for third-party opinions. Any actions taken based on this content are at your own risk. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

Custom Farming for More Profit Apr 06, 2020

Show notes

Using Custom Farming to Boost Profitability

Thank you for listening to us. We know that time is the most valuable resource and greatly appreciate you using your time to consume our content.
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Online review: “What a great format you have put together for any business person inside or outside of agriculture to listen to and learn from!”
Answer questions
- How can I boost my farm’s profitability through custom farming?
We will attack this as our topic of discussion today.
What’s working for Ag – listener or farmer feedback
- Moville, Iowa - Hungry Canyon - Cards and gifts for those who work in acres not in hours
- Melissa Keyes Nelson @MelNelKeyes www.hungrycanyondesign.com
- Originally from Nebraska and transplanted to NW Iowa where she lives with her Husband Mark and son Roy. She started her Agriculture Educational Non-Profit. She has a background of being creative and entrepreneurial spirit and is able to put a unique spin on everyday items. Melissa takes pride in creating authentic and accurate agriculture-based cards, gifts, and home decor.
- How did you decide to start this business to compliment your family farm?
  - Valentines Day for her husband
- Do you do all the creating yourself?
  - The designs are made by Melissa and the products are made by a company that employs individuals with developmental disabilities.
- How does having this business help your family’s farm succeed?
  - …
- What is the most difficult challenge about running an online retail business?
  - …
- What advice would you have for the listener who is thinking about starting or expanding their online retail business?
  - …
- What are you and your husband most proud of on your farm?
  - …
- Please share any final comments and how our listeners can find you for questions or any interest in ordering your products. Thank you!
Main Topic- How can custom farming work for your farm and increase farming profitability?
Custom work as defined: Custom farming services means the performance of an activity, defined as farming in this section, for a farmer for a fee. The fee may include a cash payment, a share of the harvest or other valuable consideration.
This means you could be using custom farming practices to benefit your farm in 2 different ways. Either by performing the tasks for others or by hiring someone else to perform the task for you.
You will need to step back and do a 360 review of your farming operation before making this decision. As we said at the beginning of the podcast that we know time is the most valuable resource, so part of this review will be to consider:
- How much time do you have to devote to performing custom farming tasks?
- Do you have staff or employees that are under employed?
- Have you struggled to get a part of your farming done timely in the past?
- Do you know of others in the area expressing a need for tasks to be completed?
- Are you adequately equipped to perform more tasks, need to upgrade, need to buy?
- Is there a practice you want to learn, try, or improve but want to try before your buy?
Once you do a 360 degree review of your farm as it is now you’ll be able to take the next steps necessary.
- Example: My family used to be a farrow to finish hog farm. My parents chose a time to expand their operation when I was a young child. They did a review similar to this knowing with a limited labor force they would need to incorporate some custom farming practices. Because they believed the breeding and farrowing processes were the most important they elected to perform those tasks themselves and hired other farmers to nursery and finish part of the production for them. They knew they didn’t have the time to do all the jobs well and this was the solution.
- This could be the same when you look at getting the crops in the ground this spring. Possibly custom tillage or pre-emergent chemical application could be beneficial.
- Example: Another hog example, had a client include me on a decision/fact finding mission. He has been taking care of ISO Wean pigs on a custom basis, sometimes getting double stocked at the beginning and other times not. We calculated the extra time it took to carry in brooders and mats, sort out feeder pigs etc… and arrived at the determination he was more profitable in the process to take only feeder pigs with a $1.50/space pay cut. He’s now going to make less gross revenue but net more income.
Could custom farming be the entry door into upgrading a piece of equipment?
- Sprayer, manure equipment, high speed planter, feed wagon/truck, semi & trailer
- Target enough work to make the payment or reduce the costs of the equipment
- Entryway to a farm manager that gets access to more rented or crop share ground.
How do you charge for custom work?
- Most farm managers who hire all processes custom will base the payment on ISU or another university survey and use the average or a multiple of the average rate. Is this fair? Too much competition?
- Calculation
  - Starts with an equipment appraisal then continues with an appraisal annually to get a true depreciation value. Target a market value and wholesale value. Salesman, auctioneer, appraiser.
  - Overhead costs on a per acre basis: Road time, RTK, Insurance, etc..
  - Establish Tractor Value and establish the cost based on use (50% of planter and grain cart) and the cost of planter + wages/acre + fuel/acre + overhead expenses/acre
  - Wages are different for each operator including yourself.
- Niche’
  - High clearance spraying, cover crop seeding, silage chopping, baling, heavy haul equipment, excavator work, tiling, ISO Weans
- Location
  - How far from your home base? How far from your last customer? How many acres? Can you charge a premium? Will it become a long term relationship?
- Experience
  - If you have been doing the same task since you just started farming…..don’t you think you deserve a raise for experience and efficiency?
What could hiring custom operators do for you?
- Pre-emergence, fungicide, Y Drops, cover crops, lawn mowing, putting cows out to pasture, expanding livestock herds, baling waterways (50/50)
- Your farm gains: speed, efficiency, precision, focus, diversity, and profit
  - Ex: Hiring someone to help you combine beans when its fit to go rather than picking at high moisture yourself
- Is it included in the price of the purchase: Spreading litter when bought, buying chemicals or fungicide
- Maybe someone is doing it for less that you could do it for by yourself???!!!
Lastly, sometimes the best answer is to say “no"
Challenge
- Do that 360 degree review of your farm to see where custom work could be a fit.
- Then if you are performing custom farming tasks get down to the real costs involved in performing the task. Your time isn’t free or worthless.
Please remember to like, rate, review, and share the podcast
- Submit questions and topic suggestions
- @farm4profitllc
- farm4profitllc@gmail.com
Thank you

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Where We Are & Where We Are Going - COVID19 Mar 30, 2020

Show notes

Tanner and David record a conversation they had talking about where we are right now emotionally, socially, and economically because of COVID19. Then they do their best to think about where we are going next. Want Farm4Profit Merch? Custom order your favorite items today! https://farmfocused.com/farm-4profit/ Don’t forget to like the podcast on all platforms and leave a review where ever you listen! Website: www.Farm4Profit.com Shareable episode link: https://intro-to-farm4profit.simplecast.com Email address: Farm4profitllc@gmail.com Call/Text: 515.207.9640 Subscribe to YouTube: https://www.youtube.com/channel/UCSR8c1BrCjNDDI_Acku5Xqw Follow us on TikTok: https://www.tiktok.com/@farm4profitllc Connect with us on Facebook: https://www.facebook.com/Farm4ProfitLLC/ Farm4Profit Media is not a financial, legal, or tax advisor. Content is provided for informational purposes only, and we serve solely as a platform for third-party opinions. Any actions taken based on this content are at your own risk. Hosted by Simplecast, an AdsWizz company. See https://pcm.adswizz.com for information about our collection and use of personal data for advertising.

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