Tuesday, March 29, 2011

Strategies for Success

Every farm and every farmer's situation is different - a unique sest of advantages and disadvantages.  The following are strategies that can be used to help.

1.  Work on vegetable farms of difference scales, crops, soil types and marketing outlets.
2.  Seek and vultivate relationships with mrntor farm(s)/farmers(s).
3.  Start small and grow as your business grows.
4.  Rent land and borrow equipment before making a long-term commitment to farming.
5.  Support yourselves off-farm for the first 4-5 years in order to reinvest all farming profits back into the business, save for future capital purchases, and avoid all debt other than a farm mortgage if possible.
6.  Join farmer-based agricultural organizations and engage in farmer-to-farmer learning opportunities: tours, field days, conferneces, workshops, webinars, etc.
7.  Enroll in farm financial planning courses (Grow Your Farm is an excellent one) and also get a great accountant.
8.  Explore and take advantage of traditional farm programs, loans, and small buiness resources through the NRCS, FSA, MO Dept of Ag and MU Extension.
(taken from Farmers' Market Today, March/April 2009 with adaptation for Missouri beginning farmers)

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