DIVERSIFICATION
Many farms today are under financial pressure, with traditional enterprises such as cattle and sheep becoming a less reliable source of income. Farmers are more than ever susceptible to such things as changes in the international market place, land degradation problems, drought and flood, changing cost structures in the market place, etc.
One solution is to diversify, creating more than one source of income for a farm. In essence, the strategy means that instead of depending mainly on one type of animal or crop for farm income, there is income generated by several different sources.
POSSIBILITIES
With a little creative, lateral thinking, there are all sorts of ways you can make money from a farm property. You already have a major asset in your land, and it might not be too difficult, or disruptive, to develop a supplementary money making venture such as one of those following. In due course, such a new venture may develop into a major part of a farm activity, or simply remain a small supplement to the main source of income.
Read More about Improving a farm in "Profitable Farming", an ebook by John Mason