2005 - Volume #29, Issue #6, Page #08
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Farm-Based Software Business
When David Olsen returned to the family farm near Thompson, Iowa after going to college and working for a seed company, he knew he'd need to find a way to supplement his income while working the family farm.As it happened, a new business idea came to him the first time he was faced with figuring out LDP's, crop insurance and other farm program issues.
The problem was he couldn't find a computer program that let him predict the outcomes of different scenarios, so he studied some computer programming and created MyFarm Risk Eliminator software. The PC computer program models financial results even when you don't know what yields or prices will be.
"Every time you change a single number, crop insurance choice, or marketing option, the software recalculates 260 yield and price scenarios for that crop," says Olsen.
Some of the questions it answers include: How much grain can I afford to market without increasing my risk? What level of crop insurance and what coverage level should I take? Is it more profitable to plant corn or soybeans?
Olsen now spends 60 to 70 percent of his time running the business while the rest is spent farming.
The software licenses for as little as $147 per year which includes updates and unlimited technical support.
Contact: FARM SHOW Followup, David Olsen, Intuitive Agritech Systems, Inc., 1209 2nd St. NW, Mason City, Iowa 50401 (ph 888 315-8179 Ext. 5; sales@myfarmsoftware .com; www.myfarmsoftware.com).
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