Deciding to own and operate your own farm is a wonderful way to escape from the stresses of your everyday life. As long as you have a solid business plan before you sign the dotted line and buy property in Texas, you will be good to go! This entire experience will be a wonderful adventure for you and your family, from the moment you begin exploring your financial options with a loan officer to the first morning when you get up and actually enjoy your land. If you aren't sure if farming is something you could adapt to, but is a dream of yours to pursue, there are certain tips you can use in order to have peace of mind moving forward.
Katie Danner of Illinois, Kerry Dull of Indiana and Jennifer Holle of North Dakota gave their three most important pieces of advice for women who are looking to break into or expand their reach in the farming and agriculture industries.
Here are three farming tips the women told the crowd:
Follow successful industrial farming businesses:
For those that are just starting out in this industry, it is so key to shadow other companies and learn the tricks of the trade before taking on your own place. There will likely be parts of the farming industry that you might not even realize exist, so it is better to have that information upfront when there are other people around who can help you out. Jumping into this blindly will only result in frustration and anxiety on your part.
Have a farming transition in place:
Farming is tough work, and you will not be able to keep it up forever. You need to always be looking ahead, which does include your eventual retirement. In order to keep things running smoothly on the farm, it is best for you to have a transitional plan in place, so the person who will be taking the reigns from you in the future can learn the business while you are still there. Whether this means setting up a timeline or speaking in more general terms, you want the future of your farm and your business to be secure and in the right hands.
Hire out your weaknesses:
If there is a part of the industry that you struggle with and it is a challenge for you to get it done, it is better to hire somebody who can help you out. Your farm will run much more efficiently if there are multiple people with their own experience and knowledge that can bring fresh ideas or thoughts to the table. You don't want your ranch or business to suffer just because there is an aspect or two that you are not an expert on.
If you are interested in exploring your financial options for getting your ranch up and running, be sure to contact a loan officer from Heritage Land Bank as soon as possible! Check out the rest of our website to learn more about the array of services and types of loans that we offer.