[music] Richard Brzozowski: Hi. I’m Richard Brzozowski
with the University of Maine Cooperative Extension, and today we’re going to talk about the considerations
for starting a farm business. Whether you’re a beginner farmer or an experienced
farmer, you want to think about the things you’re going to do before you do them. And
I have an analogy for you. We’re going to use camping as an analogy. If you’re going
to go camping or hiking, you’ve got to have a plan. You’ve got to know where you’re going,
what you want to accomplish — are you going to go fishing? Are you going to reach the
mountaintop? Are you going to just reach a point and camp overnight? Is it for relaxation
or for some other purpose? So, camping you’ve got to be equipped for the job. In farming, you’ve got to have all your plan
together, too. And what I’d like to talk about is everyone starts from a starting point.
You are where you’re at, and so you’ll start from that point and work to where you want
to get to. So you got to have a purpose. What do you want to accomplish with this business?
Is it for part-time work? Is it for partial income for your family to generate an income?
Or is it for full-time work? Do you want to make a living farming? Everybody that’s farming wants to make money
at it, but you want to know what your real purpose is behind it. And in order to do that,
you need to have a plan. A plan should be written down. You can make a lot of mistakes,
and the best way to make mistakes is on paper, not with cash from your wallet or someone
else’s investment. You want to make those mistakes on paper if you make any mistakes
at all. Planning is important. So, as you’re thinking about a farm enterprise, think about
what you want to accomplish and how you’re going to get there. A lot of people oftentimes miss this piece
here about self-inventory. You’re going to need to think about what do I know how to
do? What do I like to do? What are my interests? What do I — what skills do I have? Not only
me but maybe other members of my family that are going to be working with me on this enterprise,
because farming is more than just a one person job. You also want to inventory the resources that
you have. What land do I have? What water? What buildings? What animals? What am I starting
with? What equipment? So you want to resource those types of things, too. And then from that point, you want to develop
a good plan. Probably the most part of the whole thing is the market, because you really
want to make sure you identify that market before you do any kind of investment of real
money, because marketing is the key to success. You got to know your customer and identify
those people or is it friends and family? Is it neighbors? Is it a bed and breakfast?
A nursing home? You’ve got to identify all the people that are going to buy your product. So, in short, in developing a farm business,
you got to know where you’re going and know how you’re going to get there. That market’s
the most important part of the whole thing. Thank you. [music]