Food is an important part of everyday life which cannot be replaced by anything else. For a person to have the energy to do work and continue growing, they need food. This makes food a basic necessity to carry on with life, along with shelter. From an entrepreneur’s perspective, this is an opportunity to make money by feeding people. Farmers are the right people to take advantage of such an opportunity and make money with it. So making money as a farmer begins with a realization that a market for your products already exists. The only step remaining is to provide that service with excellent execution that customers come rushing to you.
The first step is recognizing which crop to plant to maximize the yield and ultimately the profits. There are certain types of crops that people buy which have high demand on both local and international markets. Cereals and sunflowers, including staples like corn, are in demand in both markets. After the crop is picked, a planting strategy has to be put in place to make operations run smoothly. If the plantation is big enough, machinery can be used to cultivate, otherwise, use human labor. With all prep done, cultivation can begin, applying fertilizers to increase yields then harvesting.
After the farming process is done, then comes that critical part of it all, selling your products. While selling can be as easy as finding a buyer and then cashing in, timing can change the game. It is easy to sell right after harvesting, but everybody else is selling at that time. This makes supply greater than demand, making prices fall to unreasonable lows. When such a scenario happens, you cannot make a fortune, the battle is uphill. Waiting for a time when supply is low because everyone else has already sold theirs is a great strategy, but it won’t be supported by most farmers.
When the timing is done right, you will have made a substantial amount of money, a little more than the average farmer. However, that will not be enough to become wealthy as a farmer since it is a one-time success. Wealth can be acquired by investing in assets that generate income without having to work on them. The money earned after selling can be used to buy real estate, which are assets when rented out. Going forward, this farmer can start a business which will be running full-time when it is not farming season.
During farming seasons, it can be closed or alternatively, an employee can run it while the farmer continues farming. The aim of this farmer if he wants to create wealth should be to buy as many assets as he can while he is still able to work. That strategy will generate enough wealth for him to retire without having to worry about how to keep up. To achieve that kind of wealth, liabilities in the form of luxuries should be avoided to maximize the chances. It will pay off when the time is right to start reaping what you sowed in patience and discipline. As a primary source of income, revenue from farm sales mostly goes to keeping up with life for an average farmer. While for a farmer who wants a secure future for both him and his children, that income is an investment.
Adding to all these investments, a farmer can also set up an irrigation plant to provide fresh goods even when they are not in season. The initial investment would cover the workers and water supply if it is not near. This will provide an extra source of income not only for you, but also for those working on your irrigation plant. At this stage, most of your investments would have matured and started producing positive returns. Wealth has now been achieved through a combination of hard work, smart choices and good timing.
Just because you are a farmer doesn’t disqualify you from making a lot of cash and being wealthy. Creating wealth does not respect a background, it respects knowledge of how finances work. An entrepreneurship mindset is all that is needed to bring that change as a problem solver. Acting smart means you will work less and achieve more than those who claim to be hardworking. Being a farmer is hard work, but becoming wealthy as a farmer is not impossible.