3 Ways to Successfully Run Your Farm Business in 2022
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1. Focus On One Area
A lot of farmers make the mistake of thinking that the best way to build their business is to expand into different areas straight away. For example, if you are already raising cows, you might decide that you should also raise pigs and chickens.
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The problem is, you are spreading yourself too thin and taking on new livestock that you don’t have any experience with. This often leads to a poor quality product because you are splitting your time and the livestock that you initially started out with may get neglected.
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Your farm is doing well because you produce good quality beef, but if those standards slip, you will lose your existing customers. Your best course of action is to continue producing good quality beef and find ways to make it even better.
#agribusinesstalk
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You will find that you are a lot more successful if you focus on one area of farming & instead of trying to expand into new areas, find ways to improve efficiency and cut costs in your specialist area. This will help you to improve the quality of product & profit margins
2. Modernize Your Operation
Modernizing your operation tends to be a big part of growth in any farm business. There is a lot of new technology out there that can help you to save money and make your farm more efficient at the same time.
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Example, automated watering systems can measure the water content of the soil, and monitor weather forecasts so they know exactly when to water the crops and how much. This means less water will be used, saves money, and crops will get the perfect amount of water.
3. Increase Your Network Of Buyers
When you are running a small farm, it is likely that a lot of your produce is sold locally. But if you want to improve your business and start increasing your profits, you need to look further afield.
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Try to expand your network of buyers and get in touch with export boards and enquire about exporting your produce. Start expanding your reach and finding customers further afield, this will help you to fund your business development & a market for your extra produce.
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It’s important that you start making these kinds of enquiries before you invest large amounts of money in expansion.
#agribusinesstalk
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