The other day in a young and beginning farmer/rancher institute, I put the junior generation on the spot. After a grumpy older producer gave his perspective that there is very little future in the agricultural industry, I let the younger folks counter him. Here are their perspectives.
- First, agricultural businesses can be profitable if operated as a business with sound planning, strategy and execution.
- Second, the younger generation indicated that this industry allows you to work with new technology and cutting-edge sustainable practices. You are a scientist, economist, and entrepreneur, all wrapped into one.
- Third, they stated that being their own boss allows them flexibility in scheduling and an opportunity to integrate family into the business. This presents opportunities for the younger generation to develop life skills that are very valuable in life development.
- Others felt that agricultural markets are wide open for market opportunity. You can focus on niche markets, commodities, or the international market. Your imagination is the only limit.
- Finally, I chimed in that agriculture is producing not only food and fiber, but also fuel and products for the life sciences and life experiences, which create unique opportunities for agricultural producers.
Regardless of the economic outlook, there is always someone out there attempting to build a better “mousetrap” using new and innovative ideas.