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Cattle Rancher

Odds of Hanging On

If you're already in the ranching business, then one thing you can do today to hold onto your ranch is to diversify your income stream—you don't just run animals anymore. 

You grow crops that can either feed your animals or be sold at market. You can sign agreements with oil and gas companies interested in looking for that sweet black gold on your property, or wind power companies to farm the wind out in your pastures. You develop niche products like organic, grass-fed beef, and sell to local restaurants and specialty supermarkets.

You're going to be competing in a market with some very powerful players. If you want to stay in business, you need to do more than just move a couple cows around all day.