Legacy Farmer The Podcast

There are 2 kinds of people in this world, one that makes decisions only based on price, and one that decides based on value. Those that decide only on price are stuck in a world of scarcity and will never be able to move beyond it. Those that focus on value can see the dividends paid out over years and even decades.  

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Hope is not a strategy, knowing your numbers is all that matters. This will give you confidence in all your decision making. When working with our accounting arm of the business one of our members was ecstatic to find out that he would have his numbers available to him this year rather than next year, which allows for a level of planning that he has never had before. It allows you to be proactive rather than reactive.

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

When you look at your business do you see chaos, or do you see a well-oiled machine? Chances are it’s chaos, and chaos leads to burn out. Business structure, clean books, loan management, tax strategy, and cash-flow management all counter the chaos and burn out. If you have chaos in your business life, chances are it has spread throughout all areas of your life.  

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

Some bankers want to control every single transaction happening on their line of credit. I once witnessed a banker decline money for an air conditioner in the middle of summer in Kansas, and it shook me to my core. As a customer, you need to be ready to fight those battles and justify any spending you see fit. You must always be armed with the right information to challenge them and push back.

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

It is so important to know how the decisions you make today will affect your operation later on, down the road, and the only way to know that is by knowing your numbers. Our Farmer Metrics software has given our members a level of understanding and confidence in their numbers that they have never had before. We need to be looking at our numbers far more often than once a year. 

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

Most of us in the Ag community were raised to be kind, giving, helpful, and that you shouldn’t expect anything in return. This is great until you end up spending a ton of time working for free on the family farm to help family out. They have created the problems that they need help with, but it is not your problem to solve them. It’s hard to say “no” but you need to protect the time you have on this planet to accomplish what you want.

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

We can all learn from other people’s mistakes without having to make them ourselves. We have had so many members have one bad year that they end up paying for over the next 3, 7, or even 20 years, without even realizing that is what they are doing. This is exactly what you are doing by terming-out your losses from one bad year over multiple years. 

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

Today I’m joined by Weston Birkeland, a 4th generation farmer who grows mostly wheat and barley on about 20K acres in Montana. We take a deep dive and discuss how Legacy Farmer has impacted absolutely every aspect of his life and business in only 3 short weeks. 

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

We all have the assumption that when we move back to work on the family operation that one day we’ll take it over or at the least buy them out of the operation. This assumption holds true until we find out that the family member that we want to take over for or buy out is in massive, crushing debt. Until you see their numbers and cashflow, you know nothing about your family’s operation. 

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

We are conditioned to see mistakes as failure, but the truth is we should see them as the stepping off point in the journey that God has laid out for us. At least in making a mistake you are doing something and decisions are being made. There is so much power in just getting off zero and making moves to get your life where you want it to be. Mistakes are good because they always bring lessons and growth.

Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org