Iowa farmer Rusty Olson runs a parallel operation with both conventional and organic acres, but his biggest transformation didn’t come from production practices, it came from shifting his mindset. After expanding too quickly and struggling financially, the fifth-generation farmer learned to keep a close tab on his numbers and prioritize net profit over pride. Now he’s right-sizing his operation, embracing new technology, working with an advisory team, and bridging the gap between organic and conventional farming.
15 Minutes With Rusty Olson
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From Bigger to Better
When Olson was establishing his operation, he equated size with success. He was renting more and more land on top of his 900 owned acres near Garner, in north-central Iowa, but was struggling financially. “I’d be up all night with my phone in my hand doing math on the calculator because I wasn’t keeping a balance sheet or a cash flow and I was constantly worried,” he said.
After researching some added value-crops to help make ends meet, Olson decided to shift some conventional corn and soybean acres to organic corn, soybeans, oats, alfalfa, and other small grains. “We had some pretty good success and just kept rolling with it,” he said. Still, he needed to tackle the business end of the operation.
Olson’s wife, Jennifer, shared a podcast with him, hosted by farm business coach and Legacy Farmer founder Jace Young. He then sought coaching from Young, who focuses on the importance of knowing your numbers. “We made deep cuts, and we did it fast, and the math started mathing,” he said. “Being a bigger farmer didn’t make me a better farmer, it just made me a busier farmer. I wasn’t paying attention to numbers. I was always worried about the gross dollars coming in but never looking at the net. Now we focus on the net income and that has changed everything.”…