OFI 1034: When You Discover That You Loved Growing Up On A Farm And How To Fund Your Return | Replay with Shelby Smith | GYM-N-EAT Crickets

Off-Farm Income

SHOW NOTES Our guest today has a very interesting story. Shelby Smith grew up on her family's farm just outside Ames, Iowa but her passion never seemed to lie with farming. Shelby is an exceptional athlete, and this is where she concentrated her time during high school, college, and later in graduate school. As a standout point guard on her high school basketball team, Shelby was able to pay for her undergraduate degree on an athletic scholarship doing the same thing. Then she was offered an opportunity to do it again for her master's degree at a college in Ireland. One thing led to another, and Shelby found herself with a master's degree, no college debt, and a prestigious position as a commodity trader. A whirlwind of sports, collegiate, and career success had taken place and now Shelby was settling into her career as a trader. Only one problem, as the dust settled and she was working full-time she found out that somehow she had unwittingly found herself in somebody else's dream position. Shelby states that for every trader that has her previous position, there are 10,000 people trying to get that job. This created a lot of pressure for Shelby as she realized that this career was not the right fit for her. That realization contrasted with how lucky she knew she should feel to have obtained this position at such a young age. As Shelby searched for the solution to this dilemma, something came back to her. It was memories of the 2,000 acres of corn and soybeans she grew up around on her family's farm. This farm had been cobbled together by her father and mother over the past 30+ years, and her dad was farming it faithfully. Her brother was a natural fit to take it over, but he was achieving his own career success as an F-16 pilot in the military. So, the farm and the opportunity were sitting there, waiting for Shelby. Everything happens for a reason. When Shelby told her parents of her desire to return to Iowa and take up farming her dad imparted some hard-earned farming wisdom. He told her that if this was the life that she wanted she needed to find some sort of niche that would create income for her, apart from rising and falling commodity prices. Shelby gave this some thought and came up with the idea of cricket production for human consumption. Within 9 days of research and planning "Gym-N-Eat Crickets" was born. Shelby is off to a great start with this niche, selling out of her entire supply of crickets in 2018. She is selling multiple products created from just a small fraction of the 2,000-acre farm to which she has returned. She also has plans to increase production and build a commercial facility on the farm. Cricket production was a bit more extreme than what her parents had in mind when they said to develop a niche. However, Shelby has discovered an emerging market with lots of exciting possibilities. The time it takes her to manage the crickets and the overhead required to start is minimal. This leaves her a lot of time to farm successfully! ADVICE FROM SHELBY: GO FOR IT: Shelby has had many interesting athletic, educational and career opportunities. She has pursued all of them with enthusiasm and suggests that you do the same. She is not one to hold herself back. UNCOMFORTABLE: Shelby suggests making yourself uncomfortable. If what you are doing doesn't bother or worry you a little it, you are not experiencing any growth and you are not getting any better. BITE SIZE: Shelby says do not bit off more than you can chew. Find an aspect of your business that you can really concentrate on and develop your skills within. When you have mastered that part you can look at expanding into other areas. BEST BUSINESS ADVICE SHELBY HAS EVER RECEIVED: "Get Comfortable With Being Uncomfortable" - this was advice that Shelby received from a professor and it has led her to a lifetime of growth and improvement thus far. PERSONAL HABIT: