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OFI 156: Are All Your Eggs In One Basket? | Diversification On The Farm And In Streams Of Income

SHOW NOTES

KEY IDEAS:

I ran across a question on Facebook in a farming group about selling eggs at a profit.  The problem this person was having was that she could not longer sell eggs for a profit.  The community that she lives in had changed the law to allow households in the city to raise backyard chickens.

Now, there were lots of people raising their own chickens and collecting eggs.  Therefore, those people no longer needed to purchase her eggs.  Also, the people producing their own eggs now had an abundance of eggs.  So, they started giving away or selling their extra eggs.  The supply exceeded the demand, and the price dropped.  Even in specialized niches.

This led to a discussion of diversification in revenue sources and diversification on the farm.  This is definitely a necessity because there are things acting on you that are outside of your control.  We discuss the use of side businesses, different revenue sources and keeping niched and diversified with your farm practices.  

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