Other Considerations
This section discusses items that do not tidily fit into the main structure but are important enough to be given a voice of their own.
Table of Contents
Exit Strategy
Every business must have an exit strategy.
There are a number of ways to manage your future and use the accumulated value to fund your retirement.
- Sell the farm
- Lease the farm
- Share farming
- Orderly Succession
- Leave it to the kids to sort out
You may wish to remain on the farm or move to town closer to services and amenities.
Reasoning Processes
Successful primary producers are constantly thinking about their business. They have puzzles presented to them from all directions – this is what makes living and working on the land unique.
Consider the old adage “A jack of all trades is a master of none, but oftentimes better than a master of one“. On the land you cannot just be a jack of all trades, you must master many – far more than someone in another type of business. Success comes from knowledge and understanding – Never stop learning.
Here are some techniques that will assist you to solve seemingly impossible puzzles.
- First Principles Reasoning
- Second Order Thinking
- When you have eliminated the imposible
- Root cause analysis
- Knowing what I now know
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