OFI 1862: Pricing And Profit In Agriculture Part 1 | Deep Dive Episode Discussing How To Price Our Products And Services
10/12/23 • 29 min
Today we will be talking about pricing and “is profit evil?” I did that for a reason. This is a question that has come up several times. It came up for me in my business. It has come up with guests that I have interviewed on the show. And, it is has come up from people who are working in my industry who have since gone out of business.
The fact that they went out of business is a hint as to how important this issue is. By being generous or being nice, rather than pricing their products or services correctly, they are now out of business and not sharing their gifts with the rest of the world. This is not a sustainable way of doing business.
We need to be concerned with sustainability, business sustainability. If we use entrepreneurship to support our farming or rural lifestyle and the business fails, then we lose the lifestyle. So, it is important that we price our goods or services in a way that will sustain our business. Otherwise, all of the positive impact we could have had with our agricultural enterprise will no longer exist.
Today we will be talking about pricing and “is profit evil?” I did that for a reason. This is a question that has come up several times. It came up for me in my business. It has come up with guests that I have interviewed on the show. And, it is has come up from people who are working in my industry who have since gone out of business.
The fact that they went out of business is a hint as to how important this issue is. By being generous or being nice, rather than pricing their products or services correctly, they are now out of business and not sharing their gifts with the rest of the world. This is not a sustainable way of doing business.
We need to be concerned with sustainability, business sustainability. If we use entrepreneurship to support our farming or rural lifestyle and the business fails, then we lose the lifestyle. So, it is important that we price our goods or services in a way that will sustain our business. Otherwise, all of the positive impact we could have had with our agricultural enterprise will no longer exist.
Previous Episode
OFI 1861: Humbly Becoming An American Star Finalist | FFA SAE Edition | Whitney Glazier | Lomega High School FFA
Whitney Glazier is an American Star Finalist in the category of Agricultural Placement. She knew she wanted to be an FFA member early in life, when her father was still teaching agriculture. As she and her sister got older and became more involved in showing pigs, he dad ended his 20 year career as an ag teacher and started farming full time and helping Whitney and her sister get to different pig shows.
Starting in her freshman year, Whitney knew she wanted to be an American Star Finalist. However, she didn't think that a girl from a small town like her could achieve that dream. However, she kept pursuing it, finding success but staying humble. Today she finds herself on the precipice of becoming an American Star and already having been honored by being a finalist.
Next Episode
OFI 1863: Pricing And Profit In Agriculture – Part 2 | Deep Dive Episode Discussing How To Price Our Products And Services
Today will our second installment talking about pricing and “is profit evil?” I did that for a reason. This is a question that has come up several times. It came up for me in my business. It has come up with guests that I have interviewed on the show. And, it is has come up from people who are working in my industry who have since gone out of business.
The fact that they went out of business is a hint as to how important this issue is. By being generous or being nice, rather than pricing their products or services correctly, they are now out of business and not sharing their gifts with the rest of the world. This is not a sustainable way of doing business.
We need to be concerned with sustainability, business sustainability. If we use entrepreneurship to support our farming or rural lifestyle and the business fails, then we lose the lifestyle. So, it is important that we price our goods or services in a way that will sustain our business. Otherwise, all of the positive impact we could have had with our agricultural enterprise will no longer exist.
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