THE SEVEN DEADLY(ISH) SINS OF GRAIN MARKETING
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LUST wanting the highs. Every crop year needs to be approached independently of what happened the previous year. Your marketing plans should reflect this.
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GLUTTONY wanting/expecting more than needed for your target ROI. What is your target ROI? Once you hit your projected or actual ROI you should be selling to reduce price risk and lock in profits.
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GREED wanting the best price, not looking at profitability. Greed is the biggest problem in farm marketing plans. Wanting a little bit more often ends up costing the most.
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SLOTH being a lazy marketer. In the long run a proactive, disciplined marketing plan will always pay off compared to not having a plan and being reactive.
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WRATH being angry about your marketing decisions. Once you make a marketing decision, carry on and focus on what you have left to sell. Don’t berate yourself if prices go higher.
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ENVY coveting what you hear at the pub. Don’t make your measure of success what your neighbours tell you they’ve done. Every farm is different; no two situations are the same.
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PRIDE thinking you have to do everything yourself. Run your farm like a business because it is! Outsource things you can’t or don’t like doing and focus on what you’re good at.