OFI 1862: Pricing And Profit In Agriculture Part 1 | Deep Dive Episode Discussing How To Price Our Products And Services

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.