E20 | Financial Clarity in Farming: Emotional Choices or Data-Driven Decisions?
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Show Notes
Episode Summary
This week I discuss how to make informed decisions in our farming operations.I share my most recent experience with this year's alfalfa crop and how a change in price affected our breakeven projections.This episode is not just about alfalfa but it's about focusing on the principles of strategic decision-making that can apply to any crop or livestock operation.
In this episode I share our recent experience with a change in alfalfa prices and how I made a decisions based on that change:
- In moments of unexpected change it's easy to get caught up in the emotions and let that drive our decision making but I share how it's important to get back to the numbers to help you make an informed decision.
- Taking the time to know and understand your numbers and your financial position really helps kill the scarcity that change brings.
- Change is inevitable in farming but having a clear understanding of your finances helps take the feelings of scarcity and emotion out of decision making.
Resources & Links:
- Check out my free training inside Pioneer Farmer, click here!
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