Is diversifying your farm the answer?

At some point, many farmers consider diversifying their operation. Whether it's to become less dependent on the ag economy and its frequent anxiety-inducing swings, or to expand in ways other than competing for limited local acres with neighbors, a lot of farmers see diversification as an option that they want to pursue. This might mean expanding into new crops or livestock production, or it could mean starting a side business, either in the ag industry or completely outside it.

In his latest Finance First blog post on, Water Street CEO Darren Frye talks about diversifying and the questions you'll want to ask yourself when considering this course of action.