Farm Profitability: How To Run Your Farm Like a Business | Damian Mason
Damian Mason - The Business of Agriculture
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46m
Can changing your business change your profitability? Certainly. Yet, plenty of farmers and agribusinesses don’t know whether they made money until they file their taxes. By then it’s too late to act. Alex Locklear, CEO of Good Agriculture, joins Damian to talk about running a farm or ag business like an actual business. That means: finding which enterprise, field or farm is losing money, modeling a decision before you spend the money, and making time to act on what you already know.
Alex covers the three biggest mistakes she sees: the sunk cost fallacy, spending money just to avoid paying taxes, and not getting a second opinion. She and Damian also cover smart diversification, family farms where the next generation can’t get a say, and the myth that agriculture is unlike any other business. Bad weather and market prices don’t make farming special. Running it like a business does.
The Business of Agriculture Podcast with Damian Mason is brought to you by:
- Heads Up Plant Protectants | https://www.headsupst.com/
- Tidal Grow Agriscience | https://www.tidalgrowag.com/
- Nano-Yield | https://www.nano-yield.com/
- Good Agriculture | https://www.goodagriculture.com
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