What’s a resilient income look like?
In some cases it’s very diverse.
Here’s an extreme example.
Sepp Holzer, one of my favorite farmers, runs a financially successful farm (seen below).
It’s been successful for decades, even during tough times when other farmers went out of business while following government advice on crops and scooping up subsidies.
It wasn’t due to the quality of his land. His land is mostly marginal hillside at a high altitude.
The secret is that he doesn’t produce just one product. He produces forty.
That’s not a typo.
His farm produces nearly forty different products — everything from fruits to vegetables to flowers to livestock to mushrooms.
This diversity allows him to:
- Always have something that is popular with buyers. Tastes and needs change. Prices change. It’s important to be ready with product when the opportunity emerges.
- Reduce exposure to changing weather conditions and diseases that can wipe out a single crop with ease.
- Keep his work interesting and challenging.
As you can see, this approach has its merits.
However, in order to pull it off, you will need learn one more trick.
It’s the trick that allows allows just Sepp and his wife to run the entire farm without help.
PS: I’ll send this to e-mail subscribers tomorrow (so make sure you sign up).