Seven habits of successful farmers

AgDay TV, part of the online programming from U.S. farm mag Farm Journal, recently had a series called “Seven habits of successful farmers.” Click here to view the seven short videos for yourself. Here are the highlights I pulled from the programs.

Habit 1: Adopt new and useful technology. A big part of farming, the show says, is to research practical applications for new technology to make sure it will pay off. New technology is a good investment if it “increases efficiency” and “maintains profitability” for the operation.

Habit 2: Create and follow a business plan. The business plan includes crop marketing, financing, accumulation of land and equipment, soil testing, seed evaluation and crop protection. One farmer interviewed says his family gets together for weekly meetings to review the plan and make sure everything is happening according to plan, or adjusting the plan as necessary.

Habit 3: Set goals. With challenging but realistic goals, you are motivated to make the farm better next year. What are you trying to achieve in life and in the business setting?

Habit 4: Protect your investment for the legacy generation. Do your children want to take over? If yes, make sure they’re ready. Get them involved in management earlier in their careers. Have an exit strategy for yourself.

Habit 5: Build business relationships. Farm business has expanded outside your immediate township, but good face to face relationships still have value. Social skills are very important. Know that any deal you make has to benefit both sides of the table in order to keep the relationship strong.

Habit 6: Keep learning. Tap any sources, from the old farmer down the road to the young kid right out of university to extension services. Five tips: Listen more, ask questions, give some wisdom to get some, get peers outside your area, keep an open mind.

Habit 7: Share learned knowledge through mentorship. A person can’t help you be more successful unless you give them feedback.