As farriers, we are self-employed in a service industry. You will realize that there are many things that the self-employed have to resolve.

Early in a farrier practice, a common mistake is to do more for less dollars in order to achieve the business goals that you have set for yourself. Starvation is an incredible incentive driving the young farrier to go along with things from horses and customers that the “ol’ salt” would never dream of allowing.

With success comes different decisions about how to run a business. In a successful practice, that means you become more judicious in the clients you keep.

Analyze The Business Relationship

In every relationship, there are layers and rules that apply to those levels. Most relationships that don’t involve money require respect and mutual appreciation if it is healthy and beneficial to all parties. But when money enters the picture, a business relationship has been established.

This relationship is defined by one party who provides a service or product another party deems valuable enough to pay for. As a farrier, your goal should be to provide a service superior enough that a horse owner will find, hire, retain and pay you more than other farriers because you have proven your service is worth more. Granted, this is sometimes a customer perception and not reality, but that is still a valid and valuable situation for the parties involved.

Over time, the relationship will evolve so everyone remains happy. Or if not necessarily happy, at…