Legacy Farmer The Podcast

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 mutual respect.

Check out the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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 Farmer is having on the American Farmer here: www.legacyfarmer.org

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 Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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.

Check out the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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 decisions.

Check out the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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 better rate.

Check out the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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 American Farmer here: www.legacyfarmer.org

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.

Check out the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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 today.

Check out the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org

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 the Impact Legacy Farmer is having on the American Farmer here: www.legacyfarmer.org