CLICK HERE TO BECOME A PIONEER FOR NEW LOW PRICE
Homesteading roots began with people trying to turn their life around by making a profit.
Signed into law in May 1862, the Homestead Act opened up settlement in the western United States, allowing any American, including freed slaves, to put in a claim for up to 160 free acres of federal land.
Modern Homesteading is similar. Google pallet homestead projects and you will know, it's often people with little, that dream big.
But dreaming and reality are 2 different things. Is it possible to run a profitable homestead? Let's see if our guest can help.
GUEST INFO : Accountant Mike
Mike currently works as a Senior Accountant at DiLeo & Charles. He has spent about a decade working providing accounting, tax, and consulting services to small business clients and high net worth families. He uses his extensive knowledge of tax and financial statements to help small business owners set and achieve business goals, both financial and otherwise. He currently specializes in strategic planning, income tax reduction, and cash flow management for small businesses. When he isn’t working Mike enjoys following Formula 1 and playing peek-a-boo with his infant daughter.
What is a profit?
Profit : a financial gain, especially the difference between the amount earned and the amount spent in buying, operating, or producing something.
2 - advantage; benefit.
TO BE PROFITABLE SOMETHING MUST PRODUCE MORE THAN IT CONSUMES
A profitable garden produces more than it consumes.
A profitable chicken produces more than it consumes.
A profitable Homestead produces more than it consumes.
To find out if we are running a profitable homestead we need to identify what is produced, what is consumed, and see if there is a gain in the difference.
The 7 Costs Every Homestead Has to Cover
-
- Startup Costs - land, Infrastructure, fencing (Generally Amortized Costs)
- Running Costs - more than feed, Electricity, water, taxes on land,
- Surprise Costs - Vet bills, storm damage
- Finishing costs - butcher, packaging, storage
- TIME and Labor
- Opportunity Costs - time spent raising egg laying chickens could be spent driving for uber
- WASTE - Veggies grown not eaten, eggs go bad
The PASTURED POULTRY PACKET is good at this.
3 Ways to Profit From Your Homestead
- Direct Products - lettuce, eggs, milk, cheese, REPLACING WHAT YOUR BUYING
- Indirect products - manure, land management, (BUT NOT UNLESS NEEDED, if you don’t NEED manure in your life it’s not brown gold)
- Sales - selling excess
How much do you charge above your costs? Accountant Mike suggests a MINIMUM of 10%!
Popular Podcasts
On Purpose with Jay Shetty
I’m Jay Shetty host of On Purpose the worlds #1 Mental Health podcast and I’m so grateful you found us. I started this podcast 5 years ago to invite you into conversations and workshops that are designed to help make you happier, healthier and more healed. I believe that when you (yes you) feel seen, heard and understood you’re able to deal with relationship struggles, work challenges and life’s ups and downs with more ease and grace. I interview experts, celebrities, thought leaders and athletes so that we can grow our mindset, build better habits and uncover a side of them we’ve never seen before. New episodes every Monday and Friday. Your support means the world to me and I don’t take it for granted — click the follow button and leave a review to help us spread the love with On Purpose. I can’t wait for you to listen to your first or 500th episode!
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
Cardiac Cowboys
The heart was always off-limits to surgeons. Cutting into it spelled instant death for the patient. That is, until a ragtag group of doctors scattered across the Midwest and Texas decided to throw out the rule book. Working in makeshift laboratories and home garages, using medical devices made from scavenged machine parts and beer tubes, these men and women invented the field of open heart surgery. Odds are, someone you know is alive because of them. So why has history left them behind? Presented by Chris Pine, CARDIAC COWBOYS tells the gripping true story behind the birth of heart surgery, and the young, Greatest Generation doctors who made it happen. For years, they competed and feuded, racing to be the first, the best, and the most prolific. Some appeared on the cover of Time Magazine, operated on kings and advised presidents. Others ended up disgraced, penniless, and convicted of felonies. Together, they ignited a revolution in medicine, and changed the world.