The Farmers Club

The “Club Notes” for Tuesday, the 25th of June, 2024.

By Dwain Duxson

Think more revenue streams

Everybody has to make a quid. None of us want to be doing work for free. In this day and age where costs are finding a new level, we need to make sure that we can more than adequately cover those costs. Through this column, we have long been an advocate of finding a revenue-earning side hustle. That’s a nice to have, but it is not that easy and can take time to establish. So we need to find something a little bit more reachable and something that could be connected to your main source of income. It might be an add-on extra say that has a greater margin. To use a pretty general example, say you grow Wheat as your main source of income, but you decide to get heavier into the higher-margin Wheat Seed selling game. A better example might be this: I have a mate who delivers white goods to retail stores, and rather than going home empty, he fills the truck with all the cardboard, foam, etc and starts a recycling business on the back of it. Give some thought to what your main game is and then say, without much extra effort, how can I design a higher margin extra income for something we are already doing? All this stuff is easier said than done but we need to be thinking about how we can create additional ways to lift income on the Farm. Have you implemented or thought about implementing some sort of value add? Reply to [email protected]

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