BUSINESS OF FARMING
BY JESSICA KELTON
Your Farm’s Shark Tank Idea Every Friday night, my husband and I park ourselves in front of the television to enjoy our favorite show, “Shark Tank.” If you have not seen the series let me tell you a little about it. Entrepreneurs from across the country pitch their business ideas to four or five successful businessmen and women. These budding entrepreneurs explain the concepts of their business or newly invented item in hopes that one of the wealthy investors will take them on. Most of the ideas are just that, ideas and will never come to fruition. Others are clever concepts that leave you wondering, why didn’t I think of that? One thing can be said for all the characters that go on “Shark Tank,” they think outside the box.
As a specialty crop grower or agritourism business owner, thinking outside the box is a must. Just like the “Shark Tank” entrepreneurs, fruit and vegetable farmers need to invest time in planning. From before the seed goes in the ground to the moment it is served on a plate, thoughtful planning is a must. Creating a business plan is the first essential step for any successful business. A business plan is a document that entails all the planned goals, inputs and outputs for the year. Set your goals for the business, but be sure you know the dollar value of those goals. This process creates a picture of what the business needs to do in order to be successful. In other words, it helps you know your business’ capacity. Knowing your July 2020
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