Those bad habits and poor farm management practices slip under the radar if you're not careful.Fixing those problems can be just as beneficial as focusing on the profitable sides of running a farm.Here l will go through every common farm management practices that you should avoid at all costs;
1• Unnecessary withdrawals_ Depending on your farming style, you may have a steady flow of money coming in,or you may have one large pay day a year.Either way , you need to cut down on unnecessary withdrawal or debts even if you can comfortably afford them now.
This includes things like investments made on a whim and other costly product that don't actually benefit your farm.Go through your expenditure list and highlight everything that you didn't actually use last year.How much could be have saved?
2•Poor record taking_ Don't ever get sloppy with your record taking.this include finances like profits and losses,as well as expenditures, maintenance and other ongoing costs you'll need to budget for in the future.
3• No moving forward_ Refusing to learn from your mistakes is a very bad habit.lf you don't record and analyse your mistakes you're much more likely to make the same mistakes again, costing you time, effort and money.But you can take it one step further re assess your methods and practices before mistakes are made.
4•Thinking bigger is better_ More crops doesn't always equal more profit.Thinh about quality, not quantity.A small crop of high quality beetroot sold to high end supermarkets and restaurants directly is going to make a lot more money than growing the same corn as everyone else in the country. Check the market to make sure there's a demand by taking the plunge though.
5•Farming alone_ You don't have to make the tough decisions alone . Take part in the comments, chat sections online and meet with other farmers.You never know what opportunities may a rise from these gatherings, thanks.
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