Every farm or ranch has a different perspective on how the next generation will find its place in the operation. For some, it’s essential that young people work off the farm for several years. For others, a college education is a priority. Some pursue trade school to bring additional skills back to the homeplace.
The common thread is creating additional revenue for the family operation so the next generation can support their families.
Creativity during hard times is nothing new to producers. For Molly Dixon, a farm wife in central Nebraska, finding a way for her children to return to the farm during these difficult times is challenging.
“Now that our boys are starting to come back home during this farming crisis, the reality is that supporting three families on one operation is harder than it’s ever been,” Molly said. “So, we’ve told them the same thing we had to tell ourselves years ago: You’re going to have to diversify. You’re going to have to be creative.
“That’s how farm families survive. That’s how legacies stay alive. Our hope has always been to build something our kids can come back to, and that means adapting. The boys are stepping into that — finding new ways to bring value to the homeplace so our family legacy can continue for the next generation.”
The Dixons currently run a cow-calf operation, raise row crops and sell seed.
Youngest son Keiser is a sophomore majoring in animal science at the University of Nebraska-Lincoln. He hopes expanding the cattle operation is his path back to the family farm.
“I’m planning on going back and farming and ranching alongside my two older brothers,” Keiser said. “I’ll mostly work with the cattle operation, while my two other brothers concentrate more on the row crop side of things, and we will all contribute to each other. I’m looking at expanding the herd and possibly building a feedlot.”
College teaches business planning
As the Dixon family lays the groundwork to make space for all three boys to return to the family farm, college classes help prepare the next generation.
“I put myself around the right people that are ambitious, and it’s encouraged me to take more steps toward creating a better future for myself,” Keiser said. “College has given me a lot of business ideas that I think could really help the family farm and ranch operation.”
At UNL, the Engler Entrepreneurship program focuses on helping agricultural students develop and start their businesses.
“One of the first things we say to our students is, ‘What can you bring with you that could be different, that brings diversity to the operation?’” said Dave Lambe, chief learning officer with Engler Entrepreneurship.
He encourages students to think outside the box and base their business on purpose and market need.
For Keiser, being at UNL expanded his network, added a wealth of knowledge and, ultimately, will set him on a path back to the farm. By coordinating his plan with existing revenue streams on the home operation, Keiser said he can see a financially sound future farming alongside his family.
3 questions for budding entrepreneurs
Here are the top three questions an entrepreneur should consider when looking to start a new agriculture business, according to Lamb:
1. Do you know what it’s like to own something? Ensure you have the right mindset to be a business owner. Lambe said it’s common for farm kids to already have this mindset because they grew up in the business of farming.
2. What do your customers want? Be able to set yourself apart from the competition and know what your client base is looking for. Conduct customer research and talk to various people while going through market research.
3. How are your financial skills? Learn about financial management and the money side of the business. Lambe said 50% of businesses fail within the first five years, and he believes it’s due to managing finances poorly.