Another truth is that the best economic development in rural America is profitable farmers and ranchers with strong balance sheets using and improving the infrastructure that already exists. So, we pledged to our potential members that the only criteria we had for building a plant or plants was that they would go where they had the best chance of making some money. In fact, our first plant is currently under construction in Macdonough, Georgia. It will be making frozen dough and frozen partially baked specialty and crusty breads. Keep in mind all our members are in North Dakota, Minnesota, South Dakota and Montana.
Improper capitalization is also a common trap for start up businesses.
One of the myths we enjoy in America is personified in the old Horatio Alger stories. You know the ones honest young man of pure heart and a dollar in his pocket is destined to become a millionaire through hard work and perseverance. In rural America, we particularly like that myth. We all want to believe we can start these business on the cheap. You know, start small, maybe even very small, and grow the business.