I know you didn't ask for this info, I just realized I wrote a bunch of extra stuff so feel free to ignore lol.
I don't really keep books. I basically record all my expenses and then pretty much just claim $100 less than the revenue I had.
The farm does not make money today, I am in the building stage. I am thinking 15 years out from the day I started that I will actually make money. For now, I am trying to scale and learn. I have all the equipment I need and most of the infrastructure for the existing enterprises. But I am only able to sell 7 lambs this may if I want to keep growing the flock. I have no beef or pork available currently because all of the cows are females and I need to breed them until I have steers to grow out which is itself a 2 year process. My pig breeding operation had a hiccup this year so I ended up only being able to sell a half dozen or so piglets to a local farmer when my intention was to sell them around 20 and then grow out 6 myself.
For me, atm, funneling money from my fiat job into building up the enterprise to be able to go full time with it by age 40 is more important than short term profits, which the IRS basically requires if you want to deduct some expenses. The sales I make are more or less just me trying to gauge the market, learn about marketing, shipping, and the processes necessary to actually run a business and finding service providers I can trust to do things like building ponds, running trenches for water, digging swales, slaughtering etc.
The short term goals I have are basically get $1000 in revenue from each enterprise. When one of them hits that, then the goal is $10000 in revenue for each enterprise. Since I currently have 3, when I hit $30k in revenue I should be able to quit the fiat mines as a salaried worked and just work 3 month contracts a year in the summer when there is more sunlight to be do farm chores. While doing that I am building out more product offerings, for example the deodorant, soap, researching toothpaste, etc.
nostr:nprofile1qqsgsrukw9z6ke448kwuy7w5f2tj9w58t53jculnmars0508n3pndnspr4mhxue69uhkummnw3ezucnfw33k76twv4ezuum0vd5kzmp0qyfhwumn8ghj7mmxve3ksctfdch8qatz9uq3wamnwvaz7tmpw3kxzuewdehhxarj9ekxzmny9ujdvt0e what are your thoughts on this approach, am I screwing myself?
