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Highlight what sets your farm apart to potential employees, landlords and ag lenders.

Darren Frye, CEO

April 18, 2022

3 Min Read
Farmer on phone in corn field
Getty/iStockphoto

In a business such as farming that focuses on producing a commodity, it might seem like there might not be a lot of differences or variances from farm operation to farm operation. But if you’re a farmer, you know that’s not the case at all.

It’s true that the goal, when you’re generating a commodity product, is always to be the lowest cost per unit (in the case of grain farming – per bushel) producer. That is the “bottom line” when you’re in a commodity-based business.

However, your farm operation is also probably very different from other farms in many ways. When it comes to competing for employee talent through recruiting, getting your operation’s name out there to potential landlords, or ensuring that lenders have a positive view of your operation, it pays to have a very clear understanding of precisely what sets your operation apart.

Discover and plan

What is it that makes your farm unique? How is it different from other farm operations that grow similar crops or are a similar size? As I said, knowing exactly what makes your operation “different” is what will allow you to play up those strengths to current and potential stakeholders – including current and potential employees, landlords, lenders – as well as your surrounding community.

Then you can create a plan so that each of those groups can clearly see and understand the uniqueness and positive strengths of your operation – and be drawn toward it.

Schedule time to work through these questions with your leadership team, business partners, or advisors. Your answers will help in setting forth a clear description about your operation that you can use with current and potential stakeholders.

Three questions to ask

  1. What’s our history? Every farm operation has a backstory: what’s the story of your operation? Maybe it has been in your family for a hundred years. Or maybe you’re a first-generation farmer. No matter how long the operation has been around, there’s still a story there – and it will be unique to your operation. The past of the operation will always inform where it is in the present. Write down the story of how past generations worked to grow the operation to what it is today – or whatever your farm’s unique history is.

  2. What are our values? Whether your farm team has intentionally selected core values or not – there are going to be certain values at play that make the farm what it is. Those will also help make up the day-to-day work culture of the operation. That includes how people work together, how they treat each other, whether questions are encouraged or discouraged, and how people are valued for their contributions to the operation’s goals. A work culture will always be there – it's a matter of whether the farm’s leaders work to intentionally shape it or not. Is the farm’s current culture something that will draw potential employees in? Can you promote it to potential stakeholders?

  3. How is our business model unique? Think about everything involved in your operation. Do you have any side businesses? Is the farm engaged in all commodity production – or is there any specialty or contract production involved? How is the business structured? Consider anything and everything that your operation does in terms of how you run your business that might be unique or different in a positive way.

2022 markets

Do you want to take your farm’s marketing plans and goals to the next level? What challenges and victories are you finding so far this year? This spring, the commodity markets seem to be more volatile than ever due to a combination of factors.

Consider working with our team of market advisors. They help farmer clients with planning and execution around marketing decisions and help keep them up to speed on the rapidly-changing grain market situation – and how it impacts their operation.

Get a free two-week trial of our marketing information service (MarketView Basic). Your free trial includes regular audio and video updates, technical analysis, recommendations and more. Or learn more about our market advisor programs and offerings at www.waterstreetconsulting.com.

About the Author(s)

Darren Frye

CEO, Water Street Solutions

Darren Frye grew up on an innovative, integrated Illinois farm. He began trading commodities in 1982 and started his first business in 1987, specializing in fertilizer distribution and crop consulting. In 1994 he started a consulting business, Water Street Solutions to help Midwest farmers become more successful through financial analysis, crop insurance, marketing consulting and legacy planning. The mission of Finance First is to get you to look at spreadsheets and see opportunity, to see your business for what it can be, and to help you build your agricultural legacy.

Visit Water Street Solutions

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