On this week's podcast, Peter gives us this 3-part plan to profitably add new crops to a farm operation. This is a system that he used when we was a grower and now teaches small and medium-sized operators that he works with and teaches.
With my seed industry background and my time helping indoor growers select new seed varieties, I'm fairly well-versed on the benefits of seed research. Seed companies continue to invest money in R&D and as a result the farmer gets crops that are easier to work with and more productive. Distributors and retails get crops that are less likely to get bruised or damaged during transportation. And, consumers get a better tasting product that lasts longer.
There might be agronomic benefits. There might be less food waste. There might be better taste.
My conversation with Peter was interesting because I got to see the other side. The way a grower thinks about adopting new varieties. The costs that go into trying samples. The risk of not having a successful crop. The overall impact on the bottom line and the best way to account for it.
Peter explains how he adopts new varieties and his accounting. Then I switched from being a representative from the seed industry and put on my economist hat. It was neat for me to wear both hats. Plus it was an important reminder about how hard growers work and the complex decisions they have to make.
Investing in new products and new opportunities is important for the future health of the business, but it's easy to overlook how difficult that is today.
Listen the full podcast episode at stratagerm.com/thegate