The first-ever FarmCon 2020 took place in Kansas City on Jan. 15-16 and focused on a challenge for row crop farmers: “How can we bring modern innovation to agriculture in new ways?”

FarmCon, the brainchild of Farm Direction CEO Kevin Van Trump, focused less on improving yields and more on improving management strategies. Van Trump, author of The Van Trump Report, organized a diverse group of speakers across numerous industries to share insights on how to be prepared to adapt to any obstacle a business may face – from low commodity prices to shifting consumer preferences.

1. Execution drives innovation, but distractions can hinder progress

Andy Bailey, a certified Petra Coach and serial entrepreneur, engaged the audience in exercises to improve focus. Investing time to discover the “why” behind one’s passion helps to better prioritize and execute actions that move closer towards accomplishing goals.

Bailey also stressed the importance of taking time each day to pursue activities outside work not only for enjoyment, but to bring more focus and productivity to work tasks.

2. Improved focus allows for greater managerial capacity

Attendees were asked, “How can I inspire those around me by creating a strong culture?” Rand Stagen, Managing Director of the Stagen Leadership Academy, provided real-life examples of CEOs buying in to develop leadership qualities in their executive circle for the betterment of the organization. Stagen warned against making decisions based on habit and encouraged audience members to make choices with intention and awareness.

3. Let tension work for you

Stagen advised against reactive thinking defined by outcomes, and avoiding tension. Instead, he promoted conscious curiosity of exploring boundaries and using tension as fuel for creating new conversations.

4. Transform weaknesses into strengths

David Rendell, author of “The Freak Factor,” echoed Stagen’s advice on conscious decision-making as he emphasized the interchangeability of strengths and weaknesses. In the process of running a family business, partners need to accept the good and the bad not only of themselves, but of other partners as well. Rendell amusingly led the audience to strive to transform their weaknesses into strengths because success occurs as a result of weakness, not in spite of it.

5. Collaborate with like-minded peers in other industries

A panel of CEOs in the agribusiness and ag tech space explored new dynamics pushing the limits of traditional row crop agriculture with the underlying theme that collaboration with like-minded peers in different industries is an easy first step to expand managerial horizons.

A hot topic among panelists was the growing use of food for healing and preventative health purposes, not just subsistence nutrition. Using ag tech, advanced data analysis, and private equity, farmers can bring new competencies to their operation to be prepared for this rapidly shifting agricultural landscape. Panelists challenged producers and agribusinesses to think outside the box, forcing them to brainstorm creative and, in some cases, non-traditional methods to generate revenues, cut costs, and ultimately boost profits.

6. How to see success as a choice

Paul de Gelder, a former Australian Navy diver, shared lessons from a shark attack that cost him two limbs. Farmers in the audience suffering through low commodity prices were inspired by de Gelder’s no-nonsense recovery story. Paul’s humorous albeit graphic approach to misfortune reminded the audience that success is a choice that needs to be made every day, regardless of the obstacles at hand.

7. Have a plan and execute it

A marketing and risk management panel reminded producers to stick with the fundamentals of marketing: have a plan and execute it. The group of grain marketing experts reminded farmers to focus on wealth growth, not necessarily beating the market.

8. Let kids learn from mistakes

Commodity analyst Matt Bennett recommended parents in the audience to give kids coming back to the farm the courage to fail but simultaneously become independent as they learn from their mistakes. Tough times are the perfect opportunity to become more resourceful in the next cycle, he advised.