3 Reasons Why Homestead Businesses Fail

In this episode of Homesteady, Aust explores even more the dream in front of the reality of the farm, when explaining the hardest reality of all: why his family business will fail? Through the video, Aust's brother-in-law parodies the manifest optimism that leads us to the homesteading world in the first place: the beauty of vegetables, the imagined ease of "working at home" now that he has a farm.

REALITY CHECK: RARE is to earn more money than you spend at home. But does that mean you have to give up the dream?

Based on our Homesteady survey, (thank you for your answers!) THREE OF FOUR of you have a dream that you will one day be able to get out of your current careers due to the successful pursuit of a full-time family business.

Through a new series, Aust will share his six years of experience with all of you. The full-time podcaster Aust (a dream, now more than a reality!) Will make ten episodes to make your home profitable. Along with interviews to explore the trips of others and share knowledge, we hope to help you, the entrepreneur who lives on the farm, to start positively.

It should not be surprising that Accountant Mike has a lot to say about the issue of failed companies. This episode of companies in bankruptcy account EXCLUSIVELY with Accountant Mike. (PS: tax laws have changed, stay informed!) In this first episode about Homestead Businesses, we are going to talk about The Side Hustle. To qualify as an extension, the homesteader in question must meet the following criteria: the homesteader, or half of a family couple, must have a full-time job outside the home. Second, the business based on family property had to have raised $ 1,000 or more.

The common theme of Side Hustle: many people are nowhere near profitable.

Aust takes us back to his first failed business: selling custom POG slammers made of Sculpy clay. Developing his acumen for business through his youth through Pokémon cards and spare lunch burritos, Aust has learned throughout his life as a "hustler" the basic principles of a profitable business. Now, as the owner of a piece of land, Aust shares with us that the farm is a sham. Even six years later, he does not trust his farm to be profitable or the main source of support for his family.

There are three main areas where a bustle on the side of the company can fail:

Failure of Plan: This translates into loss of time, effort and money. However, do not get stuck in the analysis paralysis! A specific goal is the best way to move forward.
Starting without sufficient capital: DO you REALLY know how much your business costs? Take note of all your data: infrastructure, supplies and repairs.
You are not planning with your time: time is money! Pay specific attention to the scalability of your company.
The number one way to stay safe? GROW SLOW. Make a plan, keep it and stay small. Remember that the commercial skills you learn along the way are infinitely applicable.

Freight Farms: Grow food anywhere with the help of Leafy Green Machine. Thanks for continuing to sponsor the podcast! Go to www.freightfarms.com/homesteady to access a FREE business planning guide!

Join our email list and do not miss any of the exciting updates we will have in 2018!

We have a new addition to the Pioneer Program: A PIONEER FORUM ONLY! Learn from each other and talk to accountant Mike, The Foraging Beard, Dave from Northeast Edible, Alexia The Suburban Escapee and Allyson, our production company. Is not he a pioneer? Join today!

Do you want even more ways to support the program? Make your purchases on Amazon through our affiliate link: www.amsteady.com.

The wait will be shorter than ever for the next episode, since Aust is now creating Homesteady Content FULL TIME. What does that mean? A YouTube video on a daily basis and a NEW podcast every two weeks.

We look forward to more Homesteady in 2018!

Video credits to Homesteady YouTube channel

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    3 Reasons Why Homestead Businesses Fail

    Comments 10

    1. Q: What happens in a CSA if you can’t or don’t deliver the product? You’ve taken deposits or feed an animal that expired or stolen… Does the CSA contract have a statement of intent and non guarantee?

    2. My first failing business was in elementary school also! I made paper throwing stars and sold them for 25cents. After making several dollars the "man" found out and I had to do a full refund. All that loss of paper and ink to decorate.. Yep in the red in 3rd grade.

    3. I believe the most important thing about homesteading is to have good healthy food that you know were it came from…you would have to consider what is the dollar value of having good health verses having bad health from eating foods that may cause harm to your health yet making a profit….

    4. I remember my dad sold many of his bussiness just to buy them back at half price from the people who bought them. I remember one time the people only last one week and they came back and said they would sell it back to him at half the price they paid for it..

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