After graduating from the University of Missouri in 2011, Lance Dobson returned to his family farming operation in Lexington, Mo. Today the farm consists of a corn and soybean rotation, but they are looking at ways to diversify. Cattle have been added into the mix following the decision to plant a cereal rye cover crop ahead of soybeans to use as forage. Dobson also started a seed dealership for Beck’s Hybrid to diversify his own income.
Q: Why did you feel a need to diversify?
A: I think it’s important. As human beings, it’s much easier to focus on just one thing. Life has a rhythm, and you know what to expect during every part of the year. However, diversification allows you to roll with the punches and grow. As we get out of our comfort zone, it usually leads to good results. Whether it’s exercising or farming, hopefully diversification in our day will yield results that improve our longevity. I think we’re seeing the need for it right now given the direction our commodity prices are going. So, maybe we need a few more cash avenues or options on the farm.
Q: Why did you become a seed dealer?
A: When I first returned to the farm, I didn’t have a lot of ownership in the operation. I was mostly just an employee helping with the daily operations. After a few years, I really wanted to take on something of my own. I wanted something I could take hold of and build. I had an opportunity sent my way to start a seed dealership, and so I took it. At that time, we were also going through a downturn in the farm economy, and so it was another way to diversify my cash flow. Since then, it’s helped me build a lot of relationships with neighbors and given me the opportunity to figure out how we can all help each other grow our operations.
Q: What lessons have you learned from diversifying the operation?
A: Try something new just enough to get a good experiment going so you can see how it could play out on a larger scale, but don’t get in over your head. You don’t want the test to be so big that it’s a real disaster. Right now, it’s hard to try new things when financials are already constrained, but find a way to try. It’s one of the best ways to find new successes. Yes, there will always be failures, but just go learn from them. I think once you make that jump, you’ll be happy you did in the long run. There’s so much personal growth that happens when we can try new things.
Q: What else do you hope to accomplish in the next five to 10 years?
A: A goal for our farming operation is to be more self reliant and resilient. Today, a lot of the constraints we have are based on commodity prices, which we don’t have any control over, and our input prices, which we also don’t have any control over. So, if we can build our farm to where we don’t rely as much on herbicides, or synthetic fertilizers, I think we’ll be in a better place. Similarly, I’d like to build our operation so we don’t rely as much on straight commodity prices. Maybe that means we do more direct-marketed goods, or we sell our corn as value added, somehow differentiating what we’re growing from commodity yellow corn, I think we’d create a lot more resilient and sustainable business.
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