Do you ever think about your business and ask yourself… how efficient is it?
It’s one of the most critical questions a farmer can ask themselves.
As long as the sun rises in the east and John Deere will be green, free markets will reward efficiency. That’s exactly what they do, and Australian farmers need to grasp this.
The more efficient our business is, the more we will be rewarded; I believe this is one of life’s small certainties that we need to embed into our minds. It is therefore no surprise that the most financially fit and commercially sustainable farmers who I have worked with around the world and across Australia get it.
As a result, they are the best business managers. Their ability to calculate risks and dissect their financial spreadsheets, all while analysing macro-economic and climate forces which push and pull prices, is crystal clear.
Consequently, I have seen healthier farms, high yielding stock, hefty harvests, happy families, and not to mention, higher profits. It is glaringly apparent that the low hanging fruit in increasing efficiency starts with financial tools like accounting, tax and superannuation, to name a few.
This is vital to remember as competition and the pursuit for efficiency will require more and more scale in Australian farming. Family farmers in particular need the right advice from a network of expertise to ensure they’re building a legacy worth handing over to the next generation.
So, it’s also time to ask yourself… how efficient can my business become if I am equipped with the right advice and the right tools?
By Sam Trethewey, General Manager of SproutX