Multiple Streams of Income

“Don’t put your eggs all in one basket”   is the old saying that everyone should be practicing on their farm, and not just in the hen house. It is wise to not rely on just one feed supplier in case of an emergency. You are using the same concept by having an emergency generator. Backing yourself up just makes sense.

Farm revenue should be no different. You should create multiple streams of income in case one stream’s flow starts to slow down.  The fancy word for this is diversification. You can even  create this in multiple levels, like diversifying your diversification. Now that is fancy.

Farm diversification can be as simple as running cattle and hogs. That is two different streams of income. Or you can be a go getter and run cattle, hogs, raise chickens,  grow a garden to sell vegetables, grow and sell sweet corn, and bale hay. I would rather try to earn a portion of my income from different sources, than try to squeeze as much out of one source as possible and hope it is enough.

If you want to get fancy. Diversify your cattle into multiple streams of income.  Do that by selling replacement heifers, selling bulls, selling to your neighbor for the meat, or renting a bull out for breeding. Diversify your Hogs by selling feeder pigs, market hogs, breeding pairs, and for custom processing. Diversify your chickens by selling eggs, laying hens, baby chicks, and roasters for the meat. Then mix all of their manure together and sell the compost. The key to success is trying to see how many ways you can individually market your products by breaking them down into separate components. Then try to break them down again until you have created as many revenue streams as you can handle.

How many ways can you sell an egg?

Good Luck!!


 

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