You vs. You: The most important question

What’s the market going to be? It’s an inherently important question for any farmer or rancher. However, no one really knows the answer. After all, things that never happen, happen all the time. Therefore, the premise of the question is often more about seeking some reprieve. It’s a question seeking a specific answer: “Please tell me things are going to go my way.”

But things never just go your way – markets are always challenging. As David Bahnsen ( 25 Years and Our Lesson Is… ) explains it, “Instability is normal.” And so, when producers ask me that question, I turn it back around. Namely, I ask them an even more important question: What are the things you can control, and what are you doing to prepare for when things don’t “go your way”?

It’s a question intended to promote thinking inside-out (versus outside-in). The list of things that fall under that category is lengthy. What are your strengths that need to be leveraged? What are you measuring that leads to success? How are you adjusting – and changing – your business over time? What are you doing to learn more about the business environment? Are you pursuing, and/or investing in, new opportunities?

Ultimately, the most important question doesn’t revolve around “the market”; rather, how are you constructing “your business” decisions to be successful in the future?

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