Are you looking for hacks to diversify on the farm or in your backyard business?
Let’s be honest here. Even though you’re enjoying rural living, you need to have come income coming in to thrive and survive. There will be times when you need it!
So, my goal here is to show you that more often than not, you’re going to need to think outside the box in order to come up with that awesome idea for income.
In this post:
- 5 easy hacks to diversify on the farm.
- Importance of diversification to your farm or small business
- Backyard Business Ideas that you can create from your hobbies that your audience and community will love.
Listen Here to the Podcast:
Disclosure: This post contains Amazon affiliate links. This means that, at no additional cost to you, I may get a commission if you click the link and make a purchase from Amazon. Thanks for your support in this way.
Don’t Put All Your Eggs Into One Basket
This simply means: Don’t focus on just one thing. Don’t just focus on cattle or just sheep or just bees. This is the definition of the true importance of diversification.
What is diversification? So, diversification simply means that you should have a couple of different baskets (referring to what you grow, make and sell from your backyard business ideas).
You never know when your operation or the markets will tank. Then, you’ll be out of the income.
Instead, set up different baskets for income. And these baskets should depends upon the needs of your community.
Discover needs in your community
Ask around your own community to people you know. Or if you don’t want to ask them, just listen. Join social media groups pertaining to your communities.
What you’re listening for are the words “we need.” I need.” And there might just be a need that can be provided by you that will turn into amazing backyard business ideas.
In the podcast, I mention an awesome book by Pat Flynn that can also help you figure out what business to start.
Building a reputation takes time
Once you start your new venture, you may not make too many sales right away. Building backyard business ideas take time to grow no matter what these business ideas are.
In the podcast episode, I give the example of getting started at farmer’s markets. I didn’t have much luck right away but overtime I grew my customer base and became successful.
Starting new backyard business ideas just takes time, my friend. But it’s probably one of the most important hacks to diversify on the farm because you want and need good customers coming to you. These customers take time to find and to build relationships with.
Good things come to those who take things slow and smart. Take the time to get to know your customers. Also, provide good quality products and services that you can sell all year long.
Look for ways to extend the season
This is what I mean. If you do sell something seasonal, how can you make the season last longer? Any backyard business ideas can have opportunities to keep selling items or related items and services longer. You need to find a way to keep making an income when your items aren’t “hot” anymore.
In the podcast, I give the example of my market garden business being summer seasonal but talk about how I extend sales into fall. There’s also the dream I have of extending produce into winter with hoop houses. Not going to happen overnight but it’s a possibility.
You’ll also find that you’ll need to learn that marketing and markets can be your friend or your foe. And this is why I stress the importance of diversification and give you these hacks to diversify on the farm.
Understand that markets will Fall
What goes up, must come down.
This is especially true with economics and markets. In the podcast, I give the example of the beef cattle market being really high. Everyone wanted in and wanted a piece of the pie. However, once they did, the market dropped and they were forced to play with a lower market. They may have planned to sell cattle but they had to sell them at a lower price than they bought them for.
Friend, you shouldn’t definitely chase markets. My advice is to watch them if you’re interested in a particular one. See what the trend is for a year or so before you jump in and buy because you want to try to buy low and sell high in order to make a good income.
The rule of Economics really applies to every market. It relates back to keeping your expenses lower than your income. It can be difficult, but necessary if you desire to grow profit.
Importance of Diversification
Diversification is good because if you try to put all your eggs into one basket, you could be in trouble some day. Other markets are good at certain times which could definitely save you in the long run.
And you want to be living rural for a long time. I know you do or you wouldn’t have read through this post or listened to this podcast episode.
Hopefully, I’ve given you good enough reasons and hacks to diversify on the farm that you can take with you to make your own dreams come true.
Profitable Business Ideas from Home to Start
Again, it completely depends upon these 5 hacks to diversify on the farm. Knowing the importance of diversification and listening to the good people of your community will help you to be successful with any of your backyard business ideas.
Look down below for a related post about backyard business ideas you can create from your hobbies and interests. But starting small town businesses that thrive or small business ideas for rural areas completely depends upon you and the need you are meeting for the people of your community.
But you also need to be passionate about what you’re selling as well. Passion plus knowing the hacks to diversify on the farm to grow a business and provide services and products will help you to be more successful than you ever dreamed. And that makes it all worth while.
~ Much Love ~
Ready to Make 2019 YOUR Year?
Get these 10 steps delivered right to your inbox to print and take with you to stay on track for success.