Legacy Farmer The Podcast Jace D. Young

A lot of people like to tell themselves that once they fix their financial problems, everything will come together in their life. The issue is, once you fix the financial problems, all you are left with is the real problems. When it comes to solving financial problems, for some people it’s quick, for others, it can take years. When you are trying to build something great with your life, it will come at the expense of those you hold closest. Be it your time, or energy spent with those people. It is a heavy price to pay. You are constantly sacrificing time WITH the people you love most, FOR the people you love most, even though it can feel wrong in the moment. As a father and husband, this will weigh on you. You should recognize the pain on both sides and understand what your family is going through as well. 
 
Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org

On the farm there is usually a massive disconnect between leadership, and just telling people what to do. When you are telling people what to do you are just managing them, you aren’t teaching, building them, or growing them, like you would if you were leading. Leadership means leading people to become better versions of themselves. It’s important to lead your team members because they will come up against things they weren’t trained for and that you, yourself may not have come up against. Without your leadership, and helping them grow, they’ll just come to you for every issue rather than coming up with a solution themselves. You don’t want every small decision going through you.
 
Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

There are times in our lives where we do take risks, but on the flip side, we must understand when to hold fast and protect what we have. Seekers take on unmanaged risk and always swing for the fences. Which is fine as long as you are considering all the 1st, 2nd, and 3rd order consequences that come with failure. Hiders are risk averse and avoid it at all costs. This is also fine as long as it’s managed and not all consuming. When you are the one that has built up the assets, you are much less likely to risk them. Risk is much more a young man's game, and with age comes the hiding and preservation. Balance is key.
 
Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

Right now, because of the economy, both people in the Ag industry and banks are getting apprehensive about taking out, and loaning out, money. Many people are trying to figure out how to recover from poor financial decisions they made back during the pandemic because borrowing money was easy. Greed drove both the banks and farmers to make poor decisions over the last few years. Our Farmer Metrics software is a great pattern interrupter to get you making decisions based on your numbers and not just on the feelings of what you want. Each year that you go through the cycle of making uninformed decisions it gets harder and harder.
 
Check out the Impact Legacy Farmer is having on the American Farmer here:  www.legacyfarmer.org 

Everyone hates hearing the truth when it’s something they don’t want to hear. We hate feeling exposed and having our faults pointed out. This is especially true when talking about finances. We don't want to fail our business financially, and we especially don’t want to fail our family financially. But, we live in a world of reality and ignoring the truth won’t help us improve ourselves or fix our problems. The longer you avoid the truth, the more you are prolonging the inevitable, and the more painful those lessons will be to learn. 

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

Sometimes it can feel like all your neighbors in the Ag industry are constantly growing and expanding their operations. It may look good from the outside but the majority of them do not know their numbers and are guessing with each decision they make. Even if you put together an annual cash flow projection, neither you nor your banker are looking at that again after you create it. In Legacy Farmer, we update those projections every month. When times are uncertain, like they are right now, your goal should be to hit singles, not home runs. Just hit a single and survive. 

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