Making Hay: Business Lessons from the Farm
Here is a fun fact about me: I had Amish grandparents on both sides of my family. I have far more Amish cousins than "English" cousins (if you aren't from Lancaster County, that just means non-Amish). I picked up a saying from living in that world: "Make hay while the sun still shines."
A lot goes into having a good hay crop. You need the right amount of rain for the field to grow, but most importantly, you need 2-3 days of sunshine to cut, dry, and bail your hay. Rain in the middle of that process will significantly diminish the quality of the hay and possibly result in mold, making it unfit to be fed to livestock. I remember watching my Amish neighbors working fervently in the fields, looking to the sky as an unexpected summer thunderstorm was rolling in. They needed to bail as much hay as possible and stack it in the barn before that storm hit. You've got to make your hay while the sun is shining, or it will be wasted.
When my team has a busy season, I remind them that this is our time to "make hay." It is a call to seize and make the most of this moment. Also implied in that sentiment is that there will be days when conditions are cloudy, wet, and rainy, and we can't make hay.
Why all this talk of hay? I've had several difficult discussions with business leaders and job seekers in the past few weeks. In many cases, companies grew exponentially in the post-covid era. They bought equipment, built teams, put up new buildings, and invested as if they lived in the land of eternal sunshine where every day was a hay-making day. The growth curve didn’t last, product demand leveled, and the market conditions changed. And those who missed the unsaid part of this quote - because the sun won't always shine- are faced with disappointment and hard decisions.
Ecclesiastes 3:1 tells us: “There is a time for everything, and a season for every activity under the heavens.”
Reflecting on the situations of the business leaders and the candidates we serve made me wonder what wisdom could be gleaned from the past few years. Here are a few of my takeaways.
The extreme highs and extreme lows rarely last. Capture the moment with the future in mind. Ask yourself, How can I make the most of this opportunity while keeping an eye on future impact?
Sustainable growth is better than rapid growth. Riding the wave of rapid growth is so much fun, but waves crash. Think of your business as a building that goes up brick by brick.
If you are the founder/CEO and your business requires restructuring to stabilize, remember that countless people on your team have sacrificed and poured themselves into carrying out your vision. Layoffs may be necessary, but they are a tragedy not just for those let go but for your company and those left behind. And it matters tremendously how these decisions are made and how they are handled.
Failure is a part of the business game. Sometimes, we time things wrong, and an unexpected thunderstorm ruins the hay crop. But if you've planned well, the crop will grow again, and you will harvest again.
Admittedly, I'm a shameless Dave Ramsey/EntreLeadership fan. Business debt is a form of risk. Mitigate it or, if possible, avoid it altogether. If your hay crop gets ruined, but you've got extra hay in the barn from the last harvest, your livestock won't starve while you wait for the next crop to come in.
If you made it to the end of this rather long blog and want to talk about lessons you've learned, process hard times you are facing, or strategize about making the most of the exciting moment you are in, send me an email, and we'll schedule a call. Talking with and serving you in your business journey would be an honor.
“The plans of the diligent bring plenty, as surely as haste leads to poverty.”
Proverbs 21:5