Farm Futures logo

What do you learn from your farm’s partners?

The best advisors and partners make you a better businessperson.

Darren Frye, CEO

March 21, 2022

3 Min Read
Two people shaking hands with tractor in background
Getty/iStockphoto

Farm leaders deal with many different aspects requiring their knowledge and attention within their operations. That’s something all leaders know very well.

As an operation grows, the leader can also start to become “stretched thin” in terms of what they’re supposed to handle each day – and also what they’re needing to stay on top of, in the knowledge that’s required to lead and run their business. This can lead to feelings of uncertainty, anxiety and even burnout from the job of farming and running a complex business.

Farm partners and advisors

Farm leaders might feel like they’re going it alone, but they don’t have to. In fact, one of the best ways to help avoid anxiety and burnout is to incorporate your farm’s outside partners and advisors in a bit different way than what might initially come to mind.

This mindset shift involves considering your farm’s partners, advisors and suppliers – think of lenders, market advisors, seed salesman, fertilizer salesman, equipment salesman, tax accountant, and so on – as teachers or educators that you can learn from and use that knowledge to run your business more efficiently and successfully.

Where’s the education?

This might mean approaching them with different questions – basically asking them to educate you further in their area of expertise. You will probably find different responses in terms of their willingness to do this or not.

If they aren’t willing to share their knowledge and expertise to help you – their client who is paying them and currently giving them business – then it might be time to ask the question: Why? Why wouldn’t they want to educate you and help you improve your farm business?

If any of your current partners or advisors don’t already have a willingness to educate and share their expertise and knowledge with you or isn’t willing to start doing so when you ask them, then it’s probably time to have some conversations about why – and maybe to seek out someone else who will take that educational approach and help you build your business.

What to look for in a business advisor

Here are three helpful things to look for if you decide it may be time to seek out a new advisor or partner for your operation.

  1. Willingness to educate. I mentioned it above, but this is probably the number one thing to look for in your new advisor. Do you learn and become a better businessperson after talking with them? Do they bring education on a regular basis – to help you advance and also advance your business?

  2. Interested in your farm’s goals. Your advisors need to be talking with you about what you see as your big goals for the future of your operation. Knowing where you’re headed is what will help them best tailor their advice and recommendations. If they’re not asking you questions about the future of your farm and where you see it heading, they might not be the best fit.

  3. Are they a learner themselves? It’s best if your advisors and partners are constantly learning and staying on top of the latest in their own areas of expertise. That means a better level of knowledge that they can draw from to help and educate you as a client.

How’s your market advisor?

Does your current market advisor regularly educate you around marketing tools and how to create plans?

When you work with our market advisors, they bring education and tailored plans for clients in today’s rapidly-changing grain marketing world. They also help farmer clients with planning and execution around marketing decisions.

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.

The opinions of the author are not necessarily those of Farm Futures or Farm Progress. 

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

Subscribe to receive top agriculture news
Be informed daily with these free e-newsletters

You May Also Like