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 7 Tips to be a Successful Beginning Farmer

7 Tips to be a Successful Beginning Farmer - Farm Loan Tips

by FarmAgLoans | Posted on Nov. 15, 2013

Check out some of our agricultural loan tips for successful farming especially for beginners!

agricultural loan tips
  1. Know the purpose why you become a farmer

    Why do you want to become a farmer? For most people, profit is the main reason but for some, they want to help in feeding the world or protect the environment. People may have different answers to this question but having a strong purpose and mission will guide you to reach success on this industry.

  2. Discover what type of farming you want

    It's crucial to know what type of farming that suits your need and is applicable to your farmland. You can either choose to go farming with veggies or fruit trees and if you're into raising animals, go for livestock. Consider your farmland and get enough information which of the two is ideal for you location and the seasons too.

  3. Construct a solid business plan

    Successful beginning farmers are not successful because they are just lucky but because they are armed with a well-crafted business plan. A business plan list all the things you need to do and the expectation or outcomes from it. A good business plan also considers things that may fail and the preparation for the unexpected. You may also ask help from a financing consultant on creating an effective business plan. Having a professional and solid business plan is not only important but also necessary when you are planning to get a loan from a commercial bank or through FSA.

  1. Get a loan from FSA or other funding sources

    So you have already have the eagerness and the business plan, but do you have financing capability? If not, the USDA through FSA will assist you on getting started with a farm loan. FSA has local offices willing to help you along the way. Commercial banks and community development corporations in your area may also offer farm loan program for beginning farmers.

  2. Develop a system on how to run your farm

    Search out an adequate amount of knowledge in farm production and equipments operations. Have a well-trained personnel and staff assigned to a specific duty. Train yourself as well. Manage and monitor the daily operations and keep track of the changes you may encounter. Prepare and create a disaster plan as well.

  3. Build relationship with other farmers

    Get connected to other farmers and farming associations. You may have enough knowledge on where to start but experience is the best teacher. Learn from others how they started out and how they overcome some unexpected obstacles they have encountered. You can visit their farm as well and observed their farm operation. Join a local farming organization that will support and guide you.

  4. Learn how to market your goods

    Before committing yourself to a product, find out first your market or the people who will going to buy it. Also consider how you will transport your product including the cost of it. Know the food safety regulations and product licensing in your state when marketing your goods.

For more detailed information, please visit our resources below:

http://www.fsa.usda.gov/FSA/webapp ?area=home&subject=fmlp&topic=bfl
http://www.cfra.org/resources/Publ ications/Beg_Farmer_loan_programs.htm

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