Legacy Farmer The Podcast

It shocks me to see how many of our members don't know their numbers when they join Legacy Farmer. Most farmers have never been taught or trained how to do any of this stuff at all. We have found that our members are overpaying on loans, simply because the bank isn’t working with good or up-to-date data. Knowing your numbers, how the bank works, and how the game works can allow you to demand a better rate. Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Great, successful businesses are not built overnight. They take tons of time, effort and dedication. Rather than constantly chasing homeruns, you need to slow down and focus on learning every aspect of your business, even if they aren't flashy or exciting. As your business grows, all of the things you need to do to keep it growing change too.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

So often in a farming family, we feel obligated to go back to work on the family farm. The problem with that is if you go back as an adult and your father, grandfather, uncle, or whoever still treats you like a 15 year old kid. If you are married at that point, and your wife has to watch you be treated like that, and watch you not take a stand for her and your kids, it’ll destroy your marriage. Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Successful people know what they should do, and do it whether they want to or not. Everything you want inside of your life is on the other side of not wanting to do something. Usually in the family farm operation there is a want that runs in direct opposition to what needs to be done. Consider the consequences of what is going to happen in your life in five years if you don’t do what you need to today. Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Are you acting responsibly with your money? So many members have not been acting in integrity with their finances and their operations have been leaking money for a long time. When we make decisions concerning our finances, they have to be fact-based decisions, not rooted in our emotions. Having your numbers organized is absolutely key to stability and running a successful operation.     Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

Within each family there is one person that changes the family for generations to come. They are the ones pushing new ideas, and often being the ones having those ideas ignored or shot down, yet they persist in sharing new ideas. Ask yourself if you are the person that cares enough about those around them, to be motivated by the worry of what will happen to them, if you don’t step up.    Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

When you finally decide to own your truth, it means that you are tired of living a lie, tired of not saying what needs to be said, or doing what needs to be done. You are tired of the day-to-day BS. Three things will happen once you start living this way. People will think something is wrong with you, they will distance themselves from you, and then they will start thinking about you.   Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Many of our members in Legacy Farmer have noticed a shift in their interactions with their bankers after knowing their numbers and understanding how the banks work. We take all the information that the bank uses to make decisions and give it to our members. How much power does your opponent have when you know every move they are going to make? None.   Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

When you run an operation with family it is important to have clear guidelines and numbers when sharing anything, especially big ticket items. You never want someone to come back to you after their operation has fallen apart and tell you what you owe them. It needs to be black and white, not in the gray area.    Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

There are different levels of risk depending on what level your business is currently at. The risks and problems you face after year one are far different than those in year five. Early on in the business, with no real foundation, the risks are massive and can be all-or-nothing. Later on, once you have the stability to take your time and are much better prepared, the risk comes way down to a point where it won’t kill the business.    Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Your second life begins when you realize you only have one. Many of us are living a life that we feel we just weren't meant for. We feel like we are settling and only doing things to make others happy, rather than ourselves. If you aren’t constantly learning and growing, you are dying.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Paying taxes is a byproduct of success. I’d much rather have a big tax bill than make no money. Having a big tax bill is a good problem to have and shouldn’t be complained about. Make sure you count your blessings for where you are today, rather than taking it all for granted. All success comes with challenges that should be appreciated and embraced.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

You will do better work if you are bored instead of busy. Right now, everything in the operation is either done by you or goes through you, creating a huge amount of busy work. Our goal in Legacy Farmer is to create so much time and freedom in your operation that you become bored. This frees up so much mental energy that you can then use to focus on the big things.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

I was with my parents when their entire operation went under, when they got kicked out of their house, when they filed for bankruptcy, when they sold the farm, and witnessing all of that was one of the biggest blessings in my life. It made me very aware of what the real world is like and what happens when you make bad financial decisions. It isn’t possible to learn these lessons without the struggle attached to them.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

The only way to truly choose path A, that has unlimited potential and will give you what you  want, is to burn path B. If there is an easy, safe way out, you’ll always be drawn to it and will never fully embrace the much harder but much more rewarding path. Path B comes with untold challenges, sacrifice, and lessons, but also unlimited potential, rewards, and growth. Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

It’s really easy for an employee, who has never walked in the shoes of an owner, and never felt the pressures of owning your own business, to have opinions on how the business should be run. Before ever giving an opinion, it is extremely important to understand the situation and understand where the person is coming from.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Having an accountability chart and being able to see, very clearly, that you are doing the work of 4 or 5 people, is an invaluable asset in fighting burnout, improving efficiency, and gaining clarity. Having clarity on what you need to do, where you need to go, and how you need to get there can improve the morale of not only you but your entire team. Clarity is the power to change the future of your operation. Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Growing up on the farm we learn the way to run a business is by micromanaging everyone, treating everyone as an employee, and leaving no room for mistakes. This is not a culture that is fruitful. If this is how you run things, you need to be willing to change before you can have any hope of changing your team. If your team is putting in tons of time every day, then you need to provide an environment that they want to be in for all that time.   Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

It is so common for the younger generation of farmers to be pressured by family, friends, and even the community to make purchases that are often far too large for them, before they are ready for it. Co-signing on a massive loan for your kids is a great way to set them up for failure. You are throwing them directly into the deep end without teaching them to swim. If you feel like it’s the wrong decision, then don’t make it. Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org