Making a living doing something you love is what most would consider a “dream job”. What horse lover has not at least considered, even for a brief instant, what life would be like if they could make a living with horses? For some, that’s all it will ever be, a brief consideration.

Others may dabble in the industry part time but be unwilling to jump head first into a full time horse business, knowing the risks and high chance for failure. Then there will be a few who want to take that risk. For those people it’s just a matter of deciding what part of the industry they want to stake their claim.

For those who are intent upon starting a horse business of some kind, breeding is one option to consider. Like any potential business there are pros to consider as well as cons and doing research in advance to make yourself aware of both sides, is always the smart thing to do.

The Pros
Walking To the Barn Vs. Driving to Work
There are some people who actually enjoy working in an office. The excitement of the corporate world gives them great satisfaction. Others long for freedom from the white walls of a corporate career and a daily commute. For these folks, getting up and heading out the back door after a cup of coffee and merely walking to work, would be a dream come true.

Seeing the Fruits of Your Labor
As you progress with your knowledge of bloodlines and genetics, it can be very rewarding to look forward to the birth of a particular foal and see that he/she is everything you hoped and more.

Maybe you are breeding for a Perlino Foundation Quarter Horse colt and you end up with exactly that-except he has an even better conformation than you hoped for and you are able to sell him for a nice price as a stallion prospect. Being able to have an idea in your mind of your end goal and reaching or exceeding it can bring any breeder a very high level of job/career satisfaction.

Selling Quality Horses for Top Dollar to Happy Customers
This is how you begin to establish yourself in this business. Let’s say you are a halter horse-breeding farm and you sell ten weanlings after your first year to show homes. If even half of those weanlings do well in the show ring, you will get customers from it. It may be repeat business due to the customer being so happy with their first purchase, or it may be more of a referral sale-someone seeing one of your colts or fillies at a show and asking about their breeding.

The Cons
Breeding Quality Horses Requires Quality Knowledge
This is not meant as a discouragement to anyone from going this route if they feel they have a lot to learn. Much learning can take place through trial and error and as you go, although,  you do need to have some knowledge.

Starting a breeding business if you are a novice horseman or horsewoman is not only dangerous, but does not serve your horses or customers well. Now, that doesn’t mean that you couldn’t hire the knowledge. If you have the money to spend, a qualified breeding manager can teach you all you need to know as well as ensure your breeding program runs smoothly. If this is not an option be sure to take the time to educate yourself before embarking on this journey.

Large Upfront Cost and Slow Return
Starting a quality-breeding program requires quality stock. You may choose to stand a stallion along with some great mares, or you may choose to focus only on top quality broodmares and pay a stud fee for your pick of stallions.

Then you will also have to pay for the upkeep of every horse in your breeding program. Whichever way you decide to go is going to require a decent amount of money. Even if you are prepared to spend this kind of money-be advised that it will take at least a year for your first crop of foals to be ready to sell as weanlings.

Highly Competitive Market
The horse industry has been around for years and in that time many farms have established themselves in the breeding industry. This is not to say that this market is impossible to break into, but it will likely take some time and patience.

Arming yourself with great marking strategies, as well as picking a good nitch for your breeding program (such as Dunn colored reining prospects or Swedish Warmblood hunter/jumper prospects) will go a long way towards helping you enter this competitive market.

In any business there has to be an element of trust with their customers. In today’s world, the Internet provides ample ways to discover information about you and your business.

This is pretty universal across all types of businesses, large and small. What stands between business and success is the people running the business and the way they feel about the things they do. How the people in charge act and feel affects how their employees act and feel and all of that affects the end product.

If a farm owner is not open to change or stuck in doing things the way they always have been, because that’s the way they have always done things, then there is a good chance they are missing out on something that could help make their business better.

Farm owners need to get out of their comfort zones. Routines lock most businesses into certain ways of doing things, and prevents them from taking the time to invest in developing new skills.

Even though the horse farm business is fairly unique in that its main focus is on the sport, it also must keep up with change otherwise it can become too rigid and limit its future success.

People want to work with businesses that are open, upfront, and innovative and technology is a big part of that, i.e. with Facebook, Twitter, social media, etc. Transparency is key because it builds trust.

Another reason for farms to bring technology like LaRaedo to their farm is because people enjoy talking about things that make them feel good. What better compliment and means of attracting more business than to have your current customers telling others about this customer driven service you provide.

I read an interesting blog post today on Horse Sense and Cents by Nanette Levin. She states:

Thriving in today’s, and tomorrow’s equine economy will require thinking out-of-the-box. Develop ideas and practices that have jaw-dropping reactions to how much you care – even if there’s not an immediate return on your customer service investment (it will come).

What kind of ideas are you thinking about incorporating into your horse business that will increase customer satisfaction and awareness?

I stopped by a new networking place in Santa Monica called Coloft. It’s a place where technical entrepreneurs come together to talk about what they are doing, work on their current projects, and help create ideas for future projects. It offers meeting rooms for presentations, fax machines, projectors, whiteboards, and printers and of course lots of hot coffee. It’s basically a collaborative, co-working space.

I met with Avesta Rasouli who is one of the Founders of Coloft. As he explained to me the concept behind Coloft, I instantly saw the correlation between what they were doing with a physical location and what I have created with a web-based location in LaRaedo.

Businesses need to create a place where information and ideas can be exchanged with their customers in private and at the same time have the ability to share to all.

For instance, with Laraedo, horse farm owners have the ability to update and provide information to one customer or share information with everyone across the board (customers and staff) as easy as creating one single event and clicking the submit button.

Horse owners can also see how their horse is being maintained, communicate privately with their trainer, and know what to expect on their upcoming invoice. Farm staff or trainers can update the customers with how training or lessons are going, or upload photos and videos of a session. Laraedo is a hub that keeps the community connected.

This appears to be what is happening more and more in the social media environment where sites like Facebook allow you to let everyone know what’s going on with your life or to send a private message to just a few.

I think that it is becoming more than just a passing trend that businesses are using the Internet to connect with their customers and it’s only going to become more important.

What are you doing to move forward in your horse business?

Every year about this time, and it appears to be starting earlier each year, we begin to see signs of the holiday season. Colored lights, decorated houses and trees, and the smell of evergreen and cinnamon fill the air.

Many businesses use this time more than any other to induce the emotional feelings behind the holiday season. Tis the season of gift giving and glitter and dressing in your finest as you gather around a warm fire singing Christmas carols and enjoying family time.

It all feels good and for many brings memories of years gone by and how important it was to buy just the right gift for everyone in the family.

There are so many different ways to celebrate the Holiday Season and it often centers around spending – all in the spirit of giving. Even with donations, it’s all about emotional giving of dollars to so many good causes. Salvation Army is on every street corner and store front, Toys for Tots is needing toys for low income families with children. I recall being part of a Christmas team at work that raised funds for financially strapped families in the area. We would then purchase toys and clothing and deliver packages to each family.

It appears that this is the time when it is most evident that we buy primarily because we think that the giving of something will make us FEEL good. How many of us out there that own horses purchase new ‘toys’, or higher quality feed, the best veterinarians, farrier, dentist, masseuses, chiropractors and on and on. And yet we shop for what’s on sale in grocery stores, buy at the low end department stores, or neglect our own dental and health care. It is all based on the emotional ties we have for our animals and the way it makes us feel knowing that they are getting only the best we can provide. Why? Because we love them and believe that by providing only the best will help them which makes US feel better.

Some of us even make our animal’s food. I can attest to that myself because my dog was extremely over weight several years ago and a health expert provided me with a homemade menu that would help take off the weight. It did and she lost 20 pounds as a result and three years later I am still making her food each week. Why? Because knowing she is in good health makes ME feel good. My dog would probably be just as happy eating whatever dog food I provided but giving her homemade food makes me feel better.

A big reason why many business are successful is that they know how to make their customers feel good about doing business with them, not just about providing a product or service. Now more than ever, the horse business needs to think about ways they can stand out among the rest especially in the areas of customer service. I recently read a book called ‘Delivering Happiness: A Path to Profits, Passion and Purpose” by Tony Hsieh, who is the owner of Zappos. Their entire business is about providing the best customer service possible. Exceptional service brings exceptional profit and this is the time to be exceptional.

We all want our customers to feel good about doing business with us. What are you doing in your horse business that creates that emotional knowing from your customers that service to them is your top priority when doing business with you?

Guest Post by Laura Kelland-May

There has been a lot of hype of how the horse business can grow with the use of social media. I dare say that if you don’t know what Facebook, Twitter and LinkedIn are then you are spending too much time in the barn.

I hope to introduce you to, what I feel are, the three top social media platforms and generally outline how they can help horse owners, business owners, and stable operators get more value from their social media networks.

The top three platforms are:

1. Facebook – Ranked as the second most popular website based on page visits with around 500 million users
2. Twitter – around 100 million registered users
3. LinkedIn – 75 million users

They all have similar features and are used to keep friends, family and even strangers up to date and informed of details from the tiniest morsel of diatribe to first on scene world events.

Facebook

Initially constructed as a fun networking site for college students it has grown and blossomed into a strong marketing tool. Facebook boasts more than 500 million users that average around 150 ‘friends’ each. Facebook also says that “people spend over 700 billion minutes per month on Facebook”.

Why is it a Good Marketing Tool?

Facebook is easy to use. It can be used to develop relationships with new clients and it offers an opportunity for new prospects to see what you are about. To help you out, Facebook has several functions that allow you as a horse business owner to share information by:

• Creating a personalized profile. This is the first thing that people investigate if they want to learn more about you and your business. If you have a special feature that distinguishes your business from others this is the place to put it. For example if your stable specializes in retraining off the track thoroughbreds or a retirement home for cherished older horses it can be shown here.

• Creating a Facebook Page of events, businesses and special features you have to offer. Users can become fans and connect with a business just as they do with other profiles. When they become a fan, all of their friends can see that they have visited your business page and became a fan. This is a perfect place to promote horse shows; horses for sale or a special page for your horse .

• Forming groups is a great opportunity to find friends with similar interests. To make a group simply type ‘group’ in the search bar at the top of the Facebook page and it will take you to the application to make a new group. When making a group consider the name of the group. A great name can help float and promote the idea to a wider body of people.

• Sharing photos and videos so that others can see them. By “tagging” people in the photo when it is uploaded, photos are posted immediately to your friend’s accounts.

• Direct and private messaging

• Invitations to events

• Requesting help

• Offering assistance

Twitter

Twitter is an instant messaging system that restricts the amount of text you can use. Twitter restricts users to text using 140 characters. It forces people to get to the point of the matter and some times the messages take on a cryptic nature as in “c u l8r”, LOL (laugh out loud).

Why is it a Good Marketing Tool?

At first glance being on Twitter seems a bit daunting. The key is to connect with other similar minded people. Once on Twitter type ‘equestrian’ into the search bar. This will reveal several interesting ‘tweets’ with the word equestrian in it. If you find the tweets interesting and relevant to what you are doing then consider ‘following’ this person.

Now each time they post a message it will automatically be posted to you. From here you can start to follow and add on to your followers. In turn they will follow you.

Twitter offers a platform for people to ask questions and get responses. I find that it is a great place to share information and help people. Whether you include a website link or simply text, your ‘followers’ have instant access to this information and can ‘re-tweet’ to their followers. This allows your name and your horse business to be circulated through a wider audience. It essentially is the old fashion ‘word of mouth’ advertising updated to the twenty-first century.

LinkedIn

LinkedIn is the platform most used by professional people. It was developed specifically with businesses in mind. It has an array of tools so that people can find, collaborate and introduce themselves to professionals in the same business or with similar interests.

With around 75 million users there is ample opportunity to stretch your networking power.

Why is LinkedIn a Good Marketing Tool?

When you connect with people on LinkedIn, the first thing they usually do is look at your profile. Make sure that your profile is complete, accurate and up to date. Having a photograph puts a face to the name and makes people want to connect with you.

LinkedIn offers a unique tool that other users can see when you respond and participate in discussions. This is important because the more discussions and groups you participate in the more your profile link will be viewed and investigated by others. Think of it as a personalized signature from your email or a business card.

To get the maximum benefit from LinkedIn it is necessary to take part in the groups, discussions and engage others with questions and updates. To find an interesting horse related group click on ‘Groups’ in the LinkedIn menu bar. From here simply type in “horse” into the search section. By doing this, over 250 groups, with interests in horses, come up. From Draft Horse Breeders, AQHA, and Turf clubs all manner of horse related topics are covered.

Summary

The big three social networks, Facebook, Twitter and LinkedIn are not the only kids on the block. Other social media platforms such as MySpace, Foursquare, YouTube as well as many others offer similar features and can also be used to network. In any case, social networking is meant to get people engaged and open up discussions. If you provide valuable contributions, the more you’ll be appreciated in the community and this will lead to more contacts. Make sure you participate in discussions, ask and answer questions, and update your status on a regular basis.

Your goal with social media is to get exposure and build your horse business network. It is important to establish a relationship with people in the horse industry who have similar interests and want to do business with you. By providing regular interaction with potential customers, your horse business can engage directly with them and quickly respond to their needs. By continuing to engage with people in the horse business, you can develop and keep loyal customers.

The WHIA Conference (pronounced WeeAh) by many attendees was an amazing success last week. There were so many inspiring and professional horse business women and men providing attendees with tons on valuable information.

Catherine Masters - 'Master of Ceremony' at WHIA

This conference was packed full of current trends, new methods, and innovative ideas on ways to best market and stay informed on improving and increasing product sales in the horse industry.

Women make up a large percentage of the businesses in the horse industry and are key decision makers. Belonging to an organization like WHIA where we can meet and learn from each other is probably the best way to stay ahead of the game. We need to continue to develop this trust and support one another in building relationships, which in turn helps build our businesses.

There were several panels, each consisted with a specific business related topic. The list below provides the speaker’s name along with a link to the website pertaining to the horse business they are in. I really liked the idea of having panels because it gave the audience a chance to ask questions and share their own business building experiences which added even more information for everyone.

Speakers in this group included:

Marketing Your Horse Industry Business
Lynn Baber – Amazing Grays
Jo Ann Challberg – Dressage Training Online
Lua Southard – Equine Resources International
Nanette Levin – Book Conductors, LLC
Wayne Hipsley – Hipsley and Associates
Kate Richards Wilt – My Racing Heart, LLC

Making the Most of Social Networking and On-Line Marketing
Kimberly Kincheloe – BB&T Insurance
Cathy Ebsen – Web Services, Etc.
Tamara Meier – Riding Arts, Inc.
Sheryl Kursar – Equestrian Aid Foundation

Making Money in the Horse Industry
Janet DelCastillo – Backyard Race Horse
Jennifer Foster – EQ Bookkeeping
Marie Taulbee – LaRaedo Horse Farm Software

Keeping Your Horses Healthy and Safe
Deb Metcalfe-Stolen Horses/Netposse

New Techniques and Products that Keep Your Horse Healthy
Pat Cleveland – The Balanced Horse Project
John Harnage – Equine IR/Equine Thermal Imaging
Linda Rubin – Your Health 321, LLC
Molly Wells – Equinessence

PJ Cooksey

An additional treat for everyone in attendance was the lunch time speaker, PJ Cooksey, who provided the humorous ups and downs overview of her life’s work while becoming a top race horse jockey.

With all the wonderful horse related businesses in attendance, there were many who contributed door prizes so much that not a single person left without having won something horsey related to take home with them.

I thoroughly enjoyed my two-days which totally flew by so quickly and am already looking forward to attending next year’s conference.

I received a call the other day from Glenn the Geek, Executive Director of Horse Radio Network. He wanted to know if I would like to participate in their second annual Twitter Marathon along with ten other horse business guests.


Each of us was given a total of four minutes to talk about our horse business or product.

Here’s a link to the podcast which includes all ten twitter horse lovers. I also supplied a link below of the rest of my compadres so you can see the wide variety of horse enthusiasts!

Click Here to Listen In: Horse Radio Network Twitter Marathon


Hosted by:
Helena Bakun and Glenn the Geek


Twitter Guests:
Kathleen Dodds – You Might Think This is Crazy, But… and follow her travels on Facebook.
Tammy Sronce – American Competitive Trail Horse Association’s attempt to break the World Record for the most trail riders at one time.
John Lechner – Eventing Safety
Mary Linda – The Science of Motion
Isabelle Bochet  –  Training Horses in Harmony
Poppy Doyle – Trinity Farm – Horse Boarding and Lessons
Christina Laiche – Cuttin Up Radio
Bonnie St. Clair – Grapevine Canyon Ranch
Nancy Brown – Writing Horseback Your Guide to Equestrian Travel Deals and Lodging Reviews