Education

Keeping Sunk Costs From Sinking Your Decisions

Keeping Sunk Costs From Sinking Your Decisions

“Well, I’ve already got so much into this crop, might as well see it through...”

“I spent a whole lot of money to start this project, so I need to spend more money to get it done.”

If you hear yourself saying this, do not make any sudden movements. You are about to sink a decision by considering your sunk costs. “Sunk costs” refers to money that is already spent. No matter your next decision, that money is G-O-N-E with no recovery, so if you try to base your decision on those costs, you could end up throwing good money after bad.

Kentucky AgVets Mentor Program Set to Begin in March of 2021

Kentucky AgVets Mentor Program Set to Begin in March of 2021

With the upcoming growing season quickly approaching, the Kentucky AgVets program partners will be matching the first round of veteran participants with mentor farmers. Mentorships will be designed to provide hands-on training and develop a network for veterans looking to start their career in agriculture. Mentorships will start out at 9 months long and can be extended as needed if mentor and veteran participant agree.

Screening for fit: How to save time when looking for grants

Screening for fit: How to save time when looking for grants

When you first find a grant program that could fit your interests, your main source of information will typically be a document called the “Request for Applications”, also called the “RFA” or in federal programs, a “Notice of Funding Availability” or “NOFA”. This document is key in determining if a grant is a good fit for you or your organization and can easily surpass 40 pages in length. While you will need to read the entire document eventually, we suggest reviewing the following sections first:

Fear of Missing Out - The Business Version

Fear of Missing Out - The Business Version

FOMO. Yet another acronym that I had to learn from someone much younger than me. FOMO = Fear of Missing Out. It’s the term associated with people incessantly checking their phones, worried about missing out on the latest news about a celebrity, politics, an earthquake on the other side of the world, your friends’ vacation pics or missing out on experiencing something they are only learning about because of the phone in their hand.

Aligning Personal and Business Goals for Success

Aligning Personal and Business Goals for Success

KCARD works with a lot of farmers and business owners. Some are happy with their business, some are happy with their personal life, but the ones that are happiest with both aspects have found a way to align their personal goals with the goals that they have for the business. Sometimes, that means stepping back from their business and acknowledging that the plans that they once had for the business no longer match their current lives.

Direct Marketing Sheep & Goat Webinar Series

Direct Marketing Sheep & Goat Webinar Series

A Direct Marketing Sheep & Goat Webinar Series will be presented on the evenings of November 17, 18, and 19 to help producers interested in selling lamb, goat, and fiber products with production practices, processing, and sales and marketing questions. The webinar is being co-hosted by the Kentucky Sheep & Goat Development Office and the Kentucky Center for Agriculture and Rural Development (KCARD).

Kentucky Horticulture Council Guest Blog: Agritourism Preparedness

Kentucky Horticulture Council Guest Blog: Agritourism Preparedness

The Kentucky Horticulture Council (KHC) is another great resource available to Kentucky producers. KHC provides resources for information and education for growers, business owners, and the public to promote a thriving horticulture industry. In this guest post by Executive Director Cindy Finneseth, KHC discusses how to be prepared and creative this fall agritourism season.