Legacy Farmer The Podcast

When you inherit the farm operation, you also inherit all of the bad decisions and problems from the prior generation. Often when younger people go off to college, graduate, and return to the farm, they do so with big ideas and big dreams, but are instead greeted with a mess that had been created over decades. The decisions we make today will ripple through our operation forever.  Check out the Im...

If you want to get off the hamster wheel and see radical results, you will have to walk through the fire and make massive changes. Be sure when you prepare to make these changes that you are only listening to feedback from those that matter. There is no shortcut here, all results are earned. These changes and results aren't temporary and last a lifetime. Check out the Impact Legacy Farmer is havin...

Today I am joined by an integral member of the Legacy Farmer team, Andy Schreck, and he shares his life experiences and what he does here at Legacy Farmer. From being taken aback by how easy it was to get plunged into $600K debt at the age of 19 with only his father as cosigner, to realizing he wasn't alone in his struggles, to all of the time wasted trying to figure things out on his own. Check o...

If something you are doing is not increasing your value per hour then it is a distraction and most likely not worth your time. It is important to keep the main thing that you do, the main thing. Focus on the 20% of activities that are bringing in 80% of the income, and feeding your family. If you build your business decisions on feelings, you will fail.   Check out the Impact Legacy Farmer is havi...

We are projecting that 2023 will be one of, if not the most expensive year ever to raise a crop. Interest rates are up, inflation is up, and this means expenses are up. In times where things are least stable it is most important that you know your numbers and make decisions based on them and not emotion. Not doing this can lead to disaster. If you had a great 2022 make sure you don't lose it in 20...

We are told if we go to college and get a degree, we will be best suited for what is to come — that was not the case for me. All of what is taught in Legacy Farmer I learned on my own, well after college. We'll spend tons of money on college but will never spend that same money on ourselves to go learn things to bring ourselves or business to the next level. Check out the Impact Legacy Farmer is h...

Recently, while going over the onboarding process and cost of our program with a potential member he said "this all sounds great but I need to check with my banker." How does it make you feel, as a grown man, to have to go ask your banker for permission to invest money to advance your operation to the next level? Your banker does not, and will never take your operation as seriously as you do. Chec...

So frequently when working with family on the family farm we are far too afraid of confrontation with older, more senior members of the family. Often when we collide with family members it leads to weeks or months of not talking to each other and no changes being implemented. If you want to be a true leader then confrontation is part of the job so get comfortable with it. Check out the Impact Lega...

In this country we are conditioned to feel as though the banks, the government, or any other large institutions have authority over us. We feel inferior or as if we are slaves to these institutions. The bank is a for-profit institution and is in the business of serving you. Do not hesitate to find a bank that will service you how you want. You and the bank should have a relationship built on mutua...

There are two teams in every game, and usually the better prepared team wins. The two teams in the Ag industry are you and the bank. So many farmers go into gameday with little to no prep and not knowing the other team's plays or signals. The bank certainly knows all of your plays, so be sure you know theirs. Legacy Farmer and Farmer Metrics teach you all their plays. Check out the Impact Legacy F...

So many times we find that the banks have no idea what their financial position is with their customers, this makes it so much more important for you to know your numbers so you don't get caught out in a bad situation. We have one member that has swung their borrowing power $1.2 million just by not shooting from the hip, knowing their numbers, and not making emotional decisions.   Check out the Im...

It is far too common for it to take the bank and other businesses over a week to get back to you when they say they'll "get right back to you." How small does that make you feel? If the level of service you receive doesn't match your standard or what you feel you should be getting, then don't hesitate to find a different business to work with. Don't settle for who you choose to do business with.  ...

Our members are constantly surprised at how much information is available to them in Legacy Farmer. It's not just my background in banking to help when dealing with the bank, but also the wealth of knowledge and experience of every member that is shared throughout the community. One member said recently that if they'd had this information earlier, they would have made drastically different decisio...

It shocks me to see how many of our members don't know their numbers when they join Legacy Farmer. Most farmers have never been taught or trained how to do any of this stuff at all. We have found that our members are overpaying on loans, simply because the bank isn't working with good or up-to-date data. Knowing your numbers, how the bank works, and how the game works can allow you to demand a bet...

Great, successful businesses are not built overnight. They take tons of time, effort and dedication. Rather than constantly chasing homeruns, you need to slow down and focus on learning every aspect of your business, even if they aren't flashy or exciting. As your business grows, all of the things you need to do to keep it growing change too.  Check out the Impact Legacy Farmer is having on the Am...

So often in a farming family, we feel obligated to go back to work on the family farm. The problem with that is if you go back as an adult and your father, grandfather, uncle, or whoever still treats you like a 15 year old kid. If you are married at that point, and your wife has to watch you be treated like that, and watch you not take a stand for her and your kids, it'll destroy your marriage. Ch...

Successful people know what they should do, and do it whether they want to or not. Everything you want inside of your life is on the other side of not wanting to do something. Usually in the family farm operation there is a want that runs in direct opposition to what needs to be done. Consider the consequences of what is going to happen in your life in five years if you don't do what you need to t...

Are you acting responsibly with your money? So many members have not been acting in integrity with their finances and their operations have been leaking money for a long time. When we make decisions concerning our finances, they have to be fact-based decisions, not rooted in our emotions. Having your numbers organized is absolutely key to stability and running a successful operation.     Check out...

Within each family there is one person that changes the family for generations to come. They are the ones pushing new ideas, and often being the ones having those ideas ignored or shot down, yet they persist in sharing new ideas. Ask yourself if you are the person that cares enough about those around them, to be motivated by the worry of what will happen to them, if you don't step up.    Check out...

When you finally decide to own your truth, it means that you are tired of living a lie, tired of not saying what needs to be said, or doing what needs to be done. You are tired of the day-to-day BS. Three things will happen once you start living this way. People will think something is wrong with you, they will distance themselves from you, and then they will start thinking about you.   Check out...

Many of our members in Legacy Farmer have noticed a shift in their interactions with their bankers after knowing their numbers and understanding how the banks work. We take all the information that the bank uses to make decisions and give it to our members. How much power does your opponent have when you know every move they are going to make? None.   Check out the Impact Legacy Farmer is having o...

When you run an operation with family it is important to have clear guidelines and numbers when sharing anything, especially big ticket items. You never want someone to come back to you after their operation has fallen apart and tell you what you owe them. It needs to be black and white, not in the gray area.    Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyf...

There are different levels of risk depending on what level your business is currently at. The risks and problems you face after year one are far different than those in year five. Early on in the business, with no real foundation, the risks are massive and can be all-or-nothing. Later on, once you have the stability to take your time and are much better prepared, the risk comes way down to a point...

Your second life begins when you realize you only have one. Many of us are living a life that we feel we just weren't meant for. We feel like we are settling and only doing things to make others happy, rather than ourselves. If you aren't constantly learning and growing, you are dying.  Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org