Last week, I had the privilege of attending FARMCON in Kansas City, MO. Hosted by Kevin Van Trump, FARMCON brings together some of the sharpest minds in agriculture for a few days of networking, learning, and inspiration. For those unfamiliar, FARMCON isn’t your typical conference—it’s half market overview, half start-up incubator and designed to push boundaries and equip agricultural entrepreneurs with tools to thrive in an industry that’s as challenging as it is rewarding.
Kevin Van Trump, who is the man behind The Van Trump Report, is a well-known name that is synonymous with innovation and insight in the ag sector. Kevin started from the bottom of the commodities world in Chicago and built his reputation by not only understanding market trends but by helping others navigate them. Through his report, read in over 35 countries, and his consulting firm, Farm Direction, Kevin has become a trusted voice for farmers, investors, and executives alike. Kevin has an overarching passion for rural America—a passion that shines brightly at FARMCON.
While FARMCON covers a range of topics, Kevin ran a panel that offered insights on investing in startups, and his comments stood out as particularly impactful. His decades of experience investing in ag-tech startups and other ventures have taught him hard-earned lessons, many of which he shared during the conference. Here are my top five takeaways:
1. Entrepreneurship Isn’t Easy
Kevin reminded us that even the brightest minds and the best ideas sometimes fail. He shared candidly that many of the startups he’s invested in didn’t make it. But failure doesn’t mean the idea, the person, or their passion was wrong—it just means they weren’t done yet. The takeaway here is resilience. Entrepreneurs and investors alike need to embrace failure as a stepping stone to success. Every failure is a chance to learn, refine, and try again.
2. Boots on the Ground Are Essential
One of the most common reasons startups fail, according to Kevin, is when founders take a hands-off approach. It’s not enough to have a brilliant idea, raise capital, and set a vision—you need to be deeply involved in execution. The most successful companies Kevin has invested in are led by founders who are not just thinkers but doers. Proximity to the business’s geography and operations is often the difference between success and failure.
3. Identify the Biggest Challenge and Assemble the Right Team
Every business faces a critical challenge, and the key to success is having the right people and resources to tackle it. Kevin stressed the importance of identifying this challenge early and assessing whether the team has the expertise and grit to solve it. If not, it’s often a dealbreaker for him as an investor. Good people are hard to find, but they’re the cornerstone of a startup’s success. A business plan might look great on paper, but without the right team, it’s just words.
4. Respect Risk
Risk is unavoidable in any investment, and no venture is a sure thing. Kevin emphasized the importance of understanding your own risk tolerance and the risk profile of the company you’re investing in. Can you handle a capital call if the business needs more runway? Are you prepared for the possibility of failure? Wise investors go into ventures with their eyes wide open, knowing the stakes and respecting the uncertainty.
5. Invest in What You Understand
As much as Kevin loves agriculture, he won’t invest in an idea he doesn’t understand. It’s not just about passion—it’s about comprehension. As an investor, you should have a solid grasp of the foundational concepts of the business you’re supporting. This not only gives you peace of mind but also positions you to be a valuable resource for the startup. Investing without understanding is like playing a game you don’t know the rules to—it rarely ends well.
Final Thoughts
FARMCON granted me a chance to observe the way investors make decisions and the challenges they face when it comes time to write the check. Kevin Van Trump’s insights are a testament to the importance of staying engaged, thinking critically, and believing in the people behind the ideas. Whether you’re an entrepreneur trying to build something great or an investor looking to back the next big thing, the lessons from FARMCON are worth remembering.
If you are an investor or entrepreneur in the Ag space and you have the opportunity to attend FARMCON, I would recommend it. It’s more than an event—it’s a community, a network, and a spark for anyone passionate about rural America and the future of agriculture.
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