This week Paul Neiffer has a conversation with Roric Paulman of Paulman Farms based in Sutherland, Neb., which is in the heart of the Ogallala aquifer and the southwest portion of the state.
In his 37-year farming career, Paulman has seen countless high-water and low-water marks. At times he was in major growth mode, while other times he made the purposeful decision to downsize.
In 1985, Paulman was working in a commercial job with a six-state business surrounded 300 employees. His dad called and asked: Do you want to farm?
“I didn’t even know,” Paulman says. “My wife and young kids and I moved home, and we buried my dad six months later, he was 48 years old.”
Paulman took over the farm reins and steadily grew the operation in acres, diversification and sophistication.
“We had 20,000 acres in the late 1990s, early 2000s,” Paulman says. “Then we decided to start downsizing. None of our four kids were interested at the time in farming.”
After downsizing to about 6,500 acres, Paulman’s youngest son, Zach, said he was interested in farming. This year will mark Zack’s ninth crop and Paulman’s 37th crop.
Three years ago, the Paulmans started their succession planning to allow Zach to take over ownership and management.
Learn how they navigated that process, advice Paulman has for his farming peers, how they’ve diversified their business and more.
Listen to the podcast episode:
Paulman Farms was honored as a 2015 Top Producer of the Year finalist. Learn more about the Top Producer of the Year award.
Listen to additional episodes of the Farm CPA Podcast:
Episode 4: Dave Nelson of Iowa
Episode 3: Jim Wiesemeyer, Pro Farmer
Episode 2: Breaking Down the American Families Plan
Episode 1: Sara Schafer, Top Producer
