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Land Values: What's a young farm manager got to say to a young farmer? Here's a look.

March 13, 2020

3 Min Read
sunset on soybean field

It’s no secret the agriculture landscape has experienced significant advancements over the past 10 to 20 years. With more and more decision-making information at farmers’ disposal, it becomes challenging to set oneself apart, especially for young farmers.

Here are six ways to leave the pack:

1. Continue to learn. The most dangerous four words I hear from the younger generation are: “That’s what Dad did.” That tells me they have settled into a comfortable routine. The moment you settle in, the guy behind you becomes better. Continuing to learn and thinking outside of the box are crucial for not only standing out from the pack, but also staying ahead of it.

2. Don’t be afraid of failure. Looking back through history, many of our greatest breakthroughs didn’t happen on the first tries. Figure out a system to consistently implement on-farm research in justifiable amounts.

3. Find a good merchandiser. Marketing is another area where we all probably need more effort. It’s challenging, but learn to control your emotions and don’t hit the panic button when volatility hits. Find a good merchandiser who can help pull you off the edge. And while you have them on speed dial, use them to develop other contract strategies besides forward-selling to help mitigate risk. If you have on-farm storage and close proximity to an end user, make sure to ask about the premiums that come with it.

4. Get a good accountant. Know your numbers, whether it’s calculating your breakeven, having a balance sheet on hand, or understanding your financial ratios. A good accountant is integral to your operation and decision-making process. And be sure the information you provide him or her is presented in a professional way and not handwritten.

5. Network. The biggest opportunities for growth are independent of your daily farm operations, so find ways to get outside of your comfort zone. Look for networking opportunities that are going to benefit your operation long term. If you are looking to grow in acres, you have to get your name out there for people to discover. There are more platforms and means to achieve this today than ever before and, undoubtedly, you have the upper hand in the technology sector. Use it to your advantage.

6. Keep learning. In a world that continues to move faster and faster, be flexible to change. When you face a challenge or obstacle that you don’t want to deal with, instead of dreading it, find a way to learn and become better from it.

Most young farmers I meet with are in a similar place of trying to gain some traction. In your pursuit of success, there will rarely be instant gratification, but rather a process taking discipline, hard work and time. One of my favorite quotes is, “I’ll do today what others won’t, so tomorrow I can accomplish what others can’t.”

It is a subtle reminder that nothing in this world is given to us.

Wheeler is a real estate broker with First Mid Ag Services, Decatur, Ill., and a member of the Illinois Society of Professional Farm Managers and Rural Appraisers. Email questions to [email protected].

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