How much money do you want to make? Enough to live on, or enough for your venture to break even? Whereabouts do you live, as location, soil, climate and markets will make a big difference to the possibilities?
If you want to keep your family on the proceeds, you would need to go intensive, for example cover the acreage with battery hen cages or Danish piggeries. I somehow think that's not the way you want to go.
All around us small family farms of 250 to 500 acres are going bust, selling up to the big boys, or covering the land with timber. So what chance do we have with just a few acres?
If you just want a little bit of profit, or for your smallholding to break even, then some of Marches Farmers ideas might work. They tend to rely on making a name for yourself, which is a long slow process, with no guarantee at the end.
Having a full time person within the family bringing home enough to live on, so any profit from the smallholding is a bonus seems to be the way most of us with very small holdings go.
This question has been asked before many times, and it would be so interesting to know what those folk are doing now, whether they have made a go of things or not.