Jul 25, 2014
Home | Tools| Events| Blogs| Discussions Sign UpLogin

AgDay Blog


Marketing Strategy

RSS By: Scott Stewart, AgWeb.com

Marketing Strategy

What's your WHY?

Nov 16, 2012

Two powerful realizations hit me as I attended the Elite Dairy Producer Conference sponsored by Dairy Today. First, one of the dairy producers I was talking with shared his view of the business. As he described his current situation, he sounded rather worn out, uncertain what the future would hold, almost as if his purpose for being in business was no longer clear.

Granted, the delicate milk price/feed price balance right now is enough to make anyone feel uncertain. However, this particular producer’s tone struck me. It was unusual for an event like the Elite Producer Conference. Of course, I wanted to help him. I wanted to ask him more about what he had done to manage the price volatility that was the source of so much frustration. From what I gathered, he had done very little to take control of price risk. I wanted to break through his gloom, explain how the tools work and how we could help him.

Then I came home, and one of our Stewart-Peterson employees had me watch a video by Simon Sinek. The gist of Sinek’s work is that people don’t buy WHAT you do, they buy WHY you do it. People want to be inspired. That made me think about this dairy producer again.

If I really wanted to help this person, I couldn’t just explain HOW to manage price risk. I would have to help him see WHY. For me, the WHY is very simple: I believe that no agricultural producer should be a victim of volatility. There are tools to help you take control. You don’t have to be beaten down by economic forces outside the farm. I believe that in my heart of hearts. That’s my WHY.

To remain an optimist in a business full of uncertainty and the never-ending drive to be more efficient, you have to know WHY you do it. Making money isn’t enough of a WHY. It needs to be something like, "carry on my Dad’s dream" or "provide opportunity for my kids" or "be the best employer in my community" or "retire and travel."  And yet, in order for those big life goals to be achieved, your business has to make money. The WHY inspires you to figure out HOW.

If you’re down about input prices, politics, employee issues or other business pressures, think about your WHY. Recommit to your business, and then seek out the help you need to figure out HOW to remain profitable and achieve all the things you want to achieve. Above all, don’t give up. Your WHY is out there.

It seems that many people in agriculture have a deeply rooted WHY. Can you express yours? Send me an email and let me know, or post it here.

Scott Stewart is CEO of Stewart-Peterson, a commodity marketing consulting firm based in West Bend, Wis. You may reach Scott at 800-334-9779, email him at scotts@stewart-peterson.com

The data contained herein is believed to be drawn from reliable sources but cannot be guaranteed. Neither the information presented, nor any opinions expressed constitute a solicitation of the purchase or sale of any commodity. Those individuals acting on this information are responsible for their own actions. Commodity trading may not be suitable for all recipients of this report. Futures trading involves risk of loss and should be carefully considered before investing. Past performance may not be indicative of future results. Any reproduction, republication or other use of the information and thoughts expressed herein, without the express written permission of Stewart-Peterson Inc., is strictly prohibited. Copyright 2012 Stewart-Peterson Inc. All rights reserved.

 

Log In or Sign Up to comment

COMMENTS

No comments have been posted, be the first one to comment.

MARKETS

CROPSLIVESTOCKFINANCEENERGYMETALS
Market Data provided by Barchart.com
Enter Zip Code below to view live local results:
bayer
 
 
The Home Page of Agriculture
© 2014 Farm Journal, Inc. All Rights Reserved|Web site design and development by AmericanEagle.com|Site Map|Privacy Policy|Terms & Conditions