- Review your professional fees
- Clear the clutter from farm and sell
- Arrange a meeting with partners
- Review the past
- Plan for the future.
- The amount of expense that is wasted month on month never ceases to amaze me when dealing with clients. Professional fees that are simply there because “we have always used them” is not an excuse to continue to use them. The savings you could make overnight can be used to clear old niggling debt of to reinvest. In an ever technological world there are so many alternative solutions than to keep using an expensive professional.
An example of this is the free agent service I use to keep my accounting books accurate. It’s automatically updates my transactions into free agent that can be very quickly reviewed and updated ready for the accountant. To out this into perspective I completed my entire year’s books of all my transactions in just 2 hours! A standard book keeper would have charger me £12/hour and I had previously been quoted 3 days to input all my transactions into an accountancy software ready for the accountant.
- I am ever baffled by the amount of valuable clutter that lays around each and every farm that I deal with. Everything from trailers to fencing and everything in between. My advice is if you have not used it in the past 12 months then sell it. The extra cash can be used to increase your profit margins and making your financial standing stronger literally overnight!
The excuses are I hear can be very imaginative including “I have plans for that” but let me assure you if it hasn’t been used in the last 12 months you are very unlikely to need it.
Get rid of it and get some cash!
- Communication is the key to success within your business. This is the common thread that is imbedded with any successful organisation. So get on the phone, text, email or whatever method works to arrange the meeting with any financial party of interest to discuss the future. You will be amazed by what can come from it. New opportunities that would have otherwise not have come to the surface or solutions to longer existing problems.
It may not be easy to arrange this meeting but stay the course and see it through. I assure you that the simple act of arranging that critical meeting will begin the journey to future prosperity on your farm.
- We all know that the past is the key that unlocks the future. Review you successes and failures of the past. Yes your failures can help you with the future because of the valuable lessons learned that can improve your future plans.
Your past successes may also indicate what you need to focus on. At the end of the day if something works the. Keep on doing it! Sometimes we can find ourselves thinking the grass is greener on the other side when in fact what we are doing just needs fine tuning.
- Plan for the future! The future for farming is truly bright and prosperous. It is simply a numbers game or better said an estimated 10 billion people by 2050 means a lot more food needs producing. It is this opportunity that you can prepare to exploit to create a vibrant and successful business. You may say well that’s easier said than done! As most of my clients say. But rest assured if you do the same thing today then you can expect the same outcome tomorrow. For this reason you should concentrate your efforts on innovations and exploring the many niche markets that surround your vision.