OFI 1004: How To Make Farms Profitable

KEY IDEAS:  "The #1 reason that farms fail is that they fail to profit".  This statement by Ted Lebow seems simple and obvious, but when you dig deeper it is actually complex and difficult to understand. Ted's company, Kitchen Table Consultants, looks at farming operations, especially those actively involved in marketing their produce, meat, and fruit, and see how business models can be a detriment to the success of the farm. Ted grew up in agriculture in Nampa, Idaho.  He participated in the FFA and later studied agriculture at Cornell University.  He has also started several companies, including Kitchen Table Consultants.  He has seen how failing to properly assess profit can lead to not just the loss of a farm, but the loss of a lifestyle. In this episode, Ted gives several tips to farmers on how to maximize profitability and sustainability.  One interesting point that he made was that farming operations that are involved in marketing should act as two different farming entities.  One entity is involved in farming and the other is involved in marketing.  This will help the farm to determine if they are profitable, and if not it will tell them in which aspect of their business they are failing to profit. This episode is a bit different from normal as I was not interviewing Ted about forming his businesses.  I was asking him about what he teaches and consults on to help farmers succeed.  I know there will be something in here that can help you with your future success. CONTACT Ted Lebow & Kitchen Table Consultants: Website: kitchentableconsultants.com Facebook: facebook.com/kitchentableconsultants Instagram: instagram.com/kitchentableconsultants LinkedIn: linkedin.com/company/kitchentableconsultants