In a recent episode of the Taranis AcreForward Podcast, host Cory Edge sat down with Mark Faust, a business growth strategist and author, at the Top Producer Summit in Kansas City. Their discussion centered around winning in turbulent times, a topic highly relevant to today’s agriculture industry. Mark shared insights from his years of experience advising businesses on strategies for resilience, growth, and innovation, offering valuable takeaways for both growers and ag retailers navigating uncertain economic conditions.
A Rich Background in Agriculture and Business Growth
Mark’s journey into agriculture started with his grandfather, who ran an ag retail business in Arkansas. Though his direct involvement came later, he has worked with over 60 ag-related companies and hundreds of businesses across various industries. His expertise lies in helping companies, particularly those in eight- and nine-figure revenue ranges, develop strategies for sustainable growth. A frequent contributor to Farm Journal, Mark has also written books such as Growth or Bust and High Growth Levers, which focus on business resilience and innovation.
Why the Top Producer Summit Matters
Having attended the Top Producer Summit over a dozen times, Mark considers it one of the most valuable conferences for agricultural professionals. He highlighted how growers and agribusiness leaders consistently leave the event with fresh ideas to enhance profitability and long-term success. A key strategy he recommends is attending with a team, dividing sessions among colleagues, and reconvening to share insights—a simple but powerful way to maximize the conference’s value.
Embracing AI and Innovation
The conversation touched on the role of artificial intelligence (AI) in modern agriculture. Mark introduced Coconut, an AI-powered tool that summarizes meeting discussions, making knowledge retention and implementation easier. This aligns with Taranis’ own AI-driven solutions, which help growers make more informed decisions by leveraging leaf-level crop intelligence. Mark emphasized the importance of testing new innovations, even in financially challenging times, citing research that suggests companies that invest in innovation during downturns often emerge stronger.
The Turnaround Mindset: Thriving in Challenging Conditions
Mark’s philosophy on business resilience stems from his early interviews with turnaround CEOs—leaders who saved struggling companies by applying strategic thinking to survive and thrive in the worst of times. He emphasized that true strategy begins with hope, belief, and a vision greater than the present. In his experience, farmers and agribusiness leaders must focus on long-term strategy rather than reacting to short-term struggles.
To illustrate the power of strategic innovation, Mark shared two compelling business turnaround stories:
- A small pizza shop in Dayton, Ohio, that fought back against a Domino’s expansion by offering free pizzas in exchange for torn-out Domino’s ads from the phone book. The campaign led to a surge in business and forced Domino’s to reassess its strategy in that market.
- A barbershop that responded to competition from a low-cost chain by renting a billboard with the message: We fix $9 haircuts. The clever positioning helped them retain and grow their customer base.
These examples reinforced that simple, creative solutions can drive significant competitive advantages, even for small businesses.
The Power of Collaboration and Strategic Thinking
Mark emphasized that networking and knowledge-sharing are crucial in tough times. He advised growers and retailers to expand their sources of information by consulting multiple experts—whether for agronomics, crop insurance, or equipment decisions. Building a diverse knowledge base prevents reliance on a single perspective and enhances adaptability.
One exercise Mark highlighted during his workshop was the tennis ball challenge, a hands-on way to demonstrate process improvement and innovation. Teams start by passing tennis balls in a defined order and then strategize ways to speed up the process through collaboration and creative thinking. What begins as a 60-second task often gets reduced to under two seconds, illustrating how strategic innovation can dramatically improve efficiency.
Looking to the Future: Vision, Divergence, and Focus
Mark wrapped up the discussion with three key elements of strategic thinking:
Vision – Companies and farms should work backward from a long-term vision rather than reacting to current conditions. Some organizations plan 30-100 years into the future—a mindset that allows for sustained innovation.
Divergence – Businesses that succeed are those that take a sharp left or right turn, differentiating themselves in their customer base, product offerings, or service models.
Focus – Leaders should intensify efforts in areas where they hold a competitive advantage, ensuring that innovation aligns with their strengths.
Final Takeaways
The discussion between Cory Edge and Mark Faust offered a powerful reminder that success in agriculture—especially in challenging times—requires a combination of innovation, strategic planning, and a willingness to adapt. Whether through leveraging AI, networking, or implementing creative business strategies, ag professionals who invest in innovation will position themselves for long-term success.
For more insights, listeners are encouraged to check out Mark’s books, available online, and stay tuned for more Taranis AcreForward Podcast episodes featuring industry leaders sharing strategies to help growers and retailers thrive.
