Is farming a viable economic pursuit? In these two podcast episodes you get to hear a talk I shared in 2012 on ‘Agri-lifestyle vs. Agri-business”.
“Farming is considered a business today, like any other occupation. And it is. However, several years ago, when my father was encouraging me in entrepreneurship he pointed out that there are two types of entrepreneurship: money-making entrepreneurship and lifestyle entrepreneurship.
Money-making entrepreneurship is what most people think of when they think of entrepreneurship. Basically you come up with a business idea based on whether you think it will be successful at making money, and you start it. Hopefully you will be right and after the business has grown to a certain point you will be able to hire others to run it, or sell it. Then you will be able to afford to live the lifestyle that you want. Basically, the best money-making business is one that provides the most amount of money with the least amount of effort.
Lifestyle entrepreneurship differs from money-making entrepreneurship not necessarily in its goal, but in its means of achieving that goal. Ultimately, the goal of both is the ability to be able to have the type of lifestyle you desire. And whereas money-making entrepreneurship seeks to find a business doing something that you don’t necessarily like in order to be able to afford to do what you like, lifestyle entrepreneurship seeks to find a way to merely make a living doing what you want in the first place.
Because of the time, devotion, care, and work that it takes to farm it doesn’t qualify very well for a money-making business. Too much work for the pay if you would rather be doing something else. However, because of the beautiful work setting, the opportunity to work with your hands, the ability to spend time with family, and the satisfaction you get from growing things, farming makes a great lifestyle that can provide for your needs and the needs of others. “
