Sometimes, we look at neighboring farms that seem to have a “secret sauce” to their success. But just like great barbecue, there are no shortcuts and no single secret sauce recipe. Success on these top-tier farms is a series of repeatable elements that work together.

The reasons dairy farm families continue to invest and grow are rooted in the nature of dairy farmers and fundamental economic drivers. It is important to understand the drivers for investment decisions – both for planning on your own farm and for the industry overall.

It’s been said that people don’t leave bad jobs, they leave bad bosses. But I think there’s more to it than that. In my decades of experience, both in the office and on countless farms, people do leave bad jobs. They also leave bad environments, situations with high expectations and little guidance, and meager growth opportunity. This is true for all types of businesses, including agriculture.

I’ve been blessed to know many successful farmers, entrepreneurs and business leaders who always seemed to be a step ahead of the herd. What are the common threads among these folks? What core set of traits did they share? I came up with three traits and one overarching theme.

It pays to get the most out of farm meetings because animal well-being and productivity are usually involved. Whether discussing nutrition plans, health protocols, farm management strategies and more, our experiences point to one overarching factor that maximizes meeting time: preparation.

Whether we’re at the high point of a cycle or in the depths of a downturn, the best managers regularly manage their margins. They understand that margin management is an “always” mindset, one that builds stronger positions during the good times so they can get through the bad.

When immersed in a new culture, language, location and lifestyle, accessing health resources can be infuriating and confusing. Routine tasks, like setting up a dentist appointment and attending doctor’s visits, can be daunting, if not impossible, under these circumstances.

If the story you tell yourself suggests it’s nobody’s business how you spend your money, ask yourself how you got there and why it has to be like that. I hope you would agree with me that the emotional factors around money affect the farm transition process.