The Business of Agriculture Podcast

By now you've heard about and most likely seen the Bud Light Super Bowl commercial. The spot proudly proclaims Bud Light doesn't contain corn syrup whereas the brand's two biggest competitors do. Many of our co-horts in the Business of Agriculture - particularly corn growers- are up in arms. While I'm a pro-corn guy from a corn state, I'm gonna tell you in this episode why the commercial was probably good marketing on Bud Light's part. I'll also look a little deeper and explain why this commercial ties nicely with Anheuser Busch's other two commercials, one for Budweiser and the other for Mich Ultra Pure Gold. The theme is socially conscious marketing. One spot touts environmentalism, one sells nature and organic compliance, and the "corn-troversial" one distances itself from a common villain: high fructose corn syrup. While we in Ag may not like it (and we may even feel singled out as corn producers) these are the realities of the marketplace.

J.R. Simplot started as an eighth grade dropout and hit his first entrepreneurial home run with hogs in the 1920s. Mr. Simplot went on to build an empire, mostly with potatoes (If you've eaten a McDonald's French fry, you've had their spuds!). Today Simplot employs 12,000 people worldwide, and is still family owned. The company's Agribusiness division has 93 Ag retail facilities, cattle feeding operations, fertilizer production, a turf business, and potatoes, of course. While speaking at the company's leadership forum, I pulled aside a V.P. and Director for their perspective on all things Ag. Where are the opportunities, where are there threats? How do you avoid stagnation as a successful company and continue innovating? This episode has some great ideas that anyone in the Business of Agriculture can benefit from. Be sure to listen to the end for closing nuggets and entrepreneurial advice to "fail fast!"

If you're in the business of Agriculture you are probably familiar with country grain elevators. You may even think the grain elevator is dying. But it's not. It's just evolving, like everything else in Ag. In this episode I sit down with two grain elevator owners - an Iowan and an Ontarian - and a representative with White Commercial Corporation, a grain brokerage. We talk about the past, present, and future of grain elevators and the role they play in the Ag industry. You'll love this conversation between the four of us — pull a chair up to the table!

Friend of show, Rob Saik, joins me to discuss his latest initiative. Rob is the founder of Agri-Trend, a company he sold to Trimble, and is the new C.E.O of DOT - a Canadian based autonomous machinery manufacturer. We discuss autonomous machinery's application and future in farming. When and why will we see this new technology? What are the benefits (and downside) of autonomous farm implements? And why time and technology march on in the Business of Agriculture.

We in Agriculture are constantly reminded of the need to "tell our story." While I agree with the need for communicating with our non-Ag brethren, oftentimes the story we tell doesn't stick. Why? Because it's about us. And while suburban North Americans might like some behind the scenes peaks into our lives and how we earn our living while producing their food, the message that sells must be All About Them. In this episode I lay out the realities of communicating to our consumers and provide three messages that resonate with Main Street.

At new years time each year I sit down and get reflective about business and the year that was. What things did I accomplish, what did I not accomplish, and how can I improve upon those things for the new year. In this episode I give you an outline for goal setting that'll help you achieve a life and business by choice. More importantly, I discuss the "ah has" one finds when critically looking back at the year that was. If you're looking to eliminate distractions and boost productivity, give this a listen!

Like it or not, the Business of Agriculture is controlled, in large part, by the federal government. This has been the case for at least a century and became more pronounced with the Agricultural Adjustment Act of 1933. Since then the Farm Bill has been a package of ever-expanding legislation, adjusted and released about every 5 years. John Newton, Chief Economist with American Farm Bureau Federation joins me to discuss this Farm Bill. Listen to discover what's new in the bill, what changes were made and why, and what's it mean for you and the Business of Ag.

Montie Soules, CEO of the American Shorthorn Association, has been a cattle guy his entire career. Although, he was raised on a Michigan turkey farm, he's all about the beef. Montie joins me to discuss the history of beef, genetics, cattle breeds, why breeds won't matter as much in a decade, what the beef industry does right (and wrong!), and where the industry is headed. Be sure to stay tuned til the end for a valuable lesson for everyone in the biz of Ag about increasing profits through promotion.

Tim Hammerich is a friend of the show who joined me way back in Episode 8. He returns to discuss career opportunities, career mistakes, and the reality of Ag mergers and consolidations as it relates to employees. Hint: where one door closes, another often opens! Turns out there are plenty of openings for people who know the industry of Food and Ag - especially if they're willing to adapt and MOVE. That's right, the Ag economy isn't presenting a challenge for employers seeking talent, it's candidates unwillingness to move that's causing problems. Listen and you'll learn how to be the prospect employers want. Hint number 2: when you say "I'll go wherever God takes me," that can't be limited to Oklahoma!

The Business of Agriculture is capital intensive, cyclical, seasonal, and generally reliant on outside cash for expansion. For decades we've relied on Ag lenders to finance our industry, but is that all changing? Austin Maness, Chief Operating Officer of Harvest Returns is my guest. His company connects Ag entities in need of capital with outside investors seeking diversification. Agriculture has always had outside money (think of farm land owned by heirs who've never seen it!) but this is different. Through the concept of crowd funding, Harvest Returns brings outside capital to Ag for as little as a $5,000 initial investment. Stay tuned to the end for our discussion on Qualified Opportunity Zone legislation — a potential boom for rural economic development.