Risk management: You don't know how important it is, until you need it

Risk management: You don’t know how important it is, until you need it

Risk management is important and it needs to be part of your farming business planning. If you were unable to work in your business, due to an illness or as a result of a farming accident, the question is: Would you be able to manage your everyday living expenses or maintain your business operations? We…

Lightening the load: Building personal and business resilience

Lightening the load – building personal and business resilience

Running an intergenerational farming business goes hand in hand with unpredictable production outputs, fluctuations in income and other financial and seasonal stresses. Being at the mercy of so many external factors can also lead to more personal stresses, such as feeling overwhelmed or a fear of failure.

‘Healthy, wealthy and wise’ isn’t just a saying – it’s now well known that your personal and financial wellbeing are closely intertwined.

The good news is, there are some everyday actions you can take to help build both personal resilience and a more resilient business.

Hindsight is 20 20 Vision

Farm production planning comes with significant stress in terms of maintaining farm business sustainability and achieving profitability, and the fact is, a poor decision can have significant impact on your bottom line for years to come.

What if you could make more informed decisions about production efficiencies and understand the financial impact of different production or planting/stock options before you made decisions – would it help you to achieve better outcomes this year?