What Ag Businesses Need to Know About Diversification
Just like a financial advisor will tell you to put your money in a variety of accounts, stocks, and bonds in order to increase your earnings while reducing risk, the exact same principle can be applied to your agricultural business. Whether it's adding a new, possibly higher-earning crop to your standard rotation, branching out into other forms of agriculture like animal husbandry, or using your farm property for novel revenue streams that take advantage of the land, structures, or scenery, there are many ways you can diversify your business, adding stability, profitability, and longevity to your operation.
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