{"version":1,"type":"rich","provider_name":"Libsyn","provider_url":"https:\/\/www.libsyn.com","height":90,"width":600,"title":"Tiny Town, Huge Risk: What Buying a 60-Year-Old Business Really Takes (Ep. 333)","description":"Be open-minded, ditch the negativity, and yes, you can buy that small-town business and make it work. In this episode, Mary Jo sits down with client and Iowa rancher\/feed-store owner Erica Lantz, who walked away from a 14-year corporate food job to buy a 60-year-old feed store in a town of 1,000 people\u2026 during COVID. \ud83d\udc49 Follow Mary Jo Here: https:\/\/www.youtube.com\/channel\/UCXYvzroUouEMsTGKFw5nJHQ \ud83d\udc49 Get the book: https:\/\/www.farmingwithoutthebank.com\/book  Erica shares how she runs a 5th-generation farm with Dexter cattle, heritage hogs, hair sheep, hypoallergenic curly horses, and silky chickens while modernizing a tiny farm store, creating custom feed mixes, shipping nationwide, and using infinite banking (and her old 401(k)) to fund the dream\u2014without letting the bank control everything. If you\u2019ve ever wondered how to buy an existing small business, fix its mess of inventory and accounts receivable, negotiate with suppliers, or use life insurance as your own line of credit for your farm or business, this conversation gets very real. What You\u2019ll Learn: \u25e6 How Erica went from corporate food manufacturing to owning a rural feed store \u25e6 Why she chose Dexter cattle, heritage hogs, hair sheep, and curly horses as niche income streams \u25e6 The truth about GMO vs non-GMO feed, sprays, and residues from someone who did lab testing \u25e6 How she mills fresh, locally sourced custom feed and ships it outside Iowa \u25e6 What no one tells you about buying a 60-year-old small-town business (inventory, expired product, A\/R) \u25e6 Using Amazon and an online store to move poor inventory and reach beyond a town of 1,000 \u25e6 How her kids learn business by bartering silky chickens and kittens instead of just taking cash \u25e6 Why did she pull money from her 401(k) to start infinite banking policies for the farm \u25e6 How separate policies, term coverage, and key-person insurance protect partners and banks \u25e6 The power of \u201cHow can I?\u201d and \u201cWho Not How\u201d for growing when cash and time feel tight Chapters: 0:00 \u2013 Negativity, mindset & intro to Erica 3:14 \u2013 Inside the ranch: Dexters, heritage hogs, curly horses & silky chickens 14:50 \u2013 Building a better feed store: sourcing, custom milling & GMO vs non-GMO 39:47 \u2013 Buying a 60-year-old small-town business: inventory, receivables & reality 55:35 \u2013 Employees, customer service, Amazon, and FedEx as a growth tool 1:07:55 \u2013 Using 401(k)s & life insurance to fund the farm and feed store 1:19:24 \u2013 \u201cHow can I?\u201d, Who Not How & closing thoughts on mindset \ud83d\udcd8 Ready to learn Infinite Banking for yourself? Grab Mary Jo\u2019s book and Nelson Nash\u2019s book, then schedule a time to talk: \ud83c\udf10 Website: https:\/\/www.farmingwithoutthebank.com \ud83d\udce7 Questions: maryjo@withoutthebank.com \ud83d\udc04 Need custom feed or farm supplies from Erica? \ud83c\udf10 Feed store & custom mixes:  https:\/\/feedersgrain.com?utm_source=y... ","author_name":"Farming Without the Bank Podcast","author_url":"https:\/\/www.farmingwithoutthebank.com\/","html":"