Insurance and Budgets

A lot of miscellaneous tasks this week added up to taking a few more steps forward…. I think. Let’s get into it!

From the field:

This may be the most boring "from the field" since we've gone live.

I booked 500-700 more acres of business this past week which is good, but that wasn't really my focus this week. My focus this week was to understand insurance. What type of coverage do I need, who do I go through to get said coverage, etc etc. There are different types of coverage that I'm going to need - one to cover the drones themselves, another to cover the liability of the business itself, and then still another in case someone wants to sue me. I'm slowly starting to realize that while the profit potential of this business is substantial, so are the costs!

I also had to do some digging on what sort of certification my tender would need this summer in order to mix chemicals. That was one of those situations where finding the answer led from one phone call, to the next, to the next. But eventually I reached the end of the road and got what I was looking for.

There are more exciting things that are coming down the pipeline in the month of March. Funding should be completed soon, and this will allow me to make the drone purchase to take advantage of a special they have running which ends on March 31st. I'm going to commence the search for a drone pilot, and will need to get some training on the board for whomever I hire. Although the trailer purchase and fabrication may not happen in March, it's going to happen sooner than later. Stay tuned!

From the office:

I have one project that I've been working on for a client over the past few weeks, and we've now wrapped that up. Preparing a 2024 budget 2 months into 2024. Whatever, better late than never I suppose. Anyway, they have plenty more work in their finance department, so I've been getting a steady stream of requests after the fact. Enough to keep me busy at least on a part-time basis.

Part of the beauty of this work is that I can take it with me if I need to - it's not geographically limiting. Right now I'm sitting in a hotel room 5 hours away from home, but I'm still able to produce what's necessary in a timely fashion. Ain't technology great?!

What I'm reading:

This week I took some time to subscribe to a plethora of different agriculture newsletters and twitter feeds. I’ve read a few of them, but will refrain from further comment until I get a better idea on which ones are the go-tos. I need to get a pulse on current events in the ag industry, and feel like this is a good place to start!

Thanks for hanging in, especially with all the insurance talk - until next week!