An insider secret rich farm owners know that the rest of us don’t?
Focussing on cutting costs in your farm business is probably keeping you broke.
Okay, maybe its not keeping you broke-broke…but i...
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Stop making ‘average’ business decisions at tax time
Apr 24, 2023
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Don’t hold your business back in the name of tax minimisation
A few months ago we sat down with Jeff McDonald, Executive Director of RLS Agribusiness, to dive into the common mistakes farming families make around tax time, how to change your perspective on what you want to achieve at the end o...
How many of these challenges in agriculture apply to you?
Feb 17, 2023
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Here is a summary of some of the biggest challenges and constraints for farm owners. How many relate to you?
- You don’t have clarity (goals or direction) on where you are taking the business (leads to procrastination and an unhappy team).
- You don’t really have your ‘pulse’ on the finan...
The Skills You Need to be a Top 5% Farmer
Dec 30, 2022
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As the year comes to a close, it is fitting that we look back and reflect on an aspect of our business here at Farm Owners Academy that we are incredibly proud of and love doing – and that we know so many of you are avid listeners of!
Our podcast The Profitable Farmer has made a significant diffe...
If you do these 8 things… you will be a top 20% farmer
Oct 07, 2022
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Many farm owners believe that in order to become a top 20% farmer, you need to work harder (or do more).
This is not true.
The top 20% of farmers just do things slightly differently.
In fact, I would argue that many top 20% of farmers are working less than an average farmer.
And a top 20% farme...
Most people were NOT taught the skills to run a successful business…
Aug 05, 2022
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- An accountant spends three years studying their craft
- A lawyer spends five years studying their craft
- A doctor spends seven years studying their craft
AND they are all required to complete further education each year to maintain their qualifications.
Having coached several accountants, ...
[Free Download] Our Money Mastery Checklist Used to Create a Freedom Farm
Apr 15, 2022
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The first time my Dad taught me how to shear a sheep is a day I don’t want to remember.
… dragging it out of the pen
… trying to hold it still
… getting my head around how to grip the handpiece
The whole thing ended in a mess, and let’s just say that was the most unlucky sheep in the shed – to have ...
Is Your Balance Sheet Lazy or Hardworking? Here’s How to Tell (+ build more wealth!)
Aug 26, 2021
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Is your balance sheet lazy?
For many farm owners we meet, the answer is “yes”.
And that’s a huge problem…
Because a lazy balance sheet is a clear sign that you’re leaving money on the table.
Money that could be used to:
- Expand your farming operation
- Take a holiday with your...
Our Top 4 Tips for Higher Gross Margins (and Hence...Higher Profits!)
Aug 19, 2021
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Last week, we talked about where most farm owners go wrong in trying to grow their profit.
Most people focus on reducing costs (through things like minimising tax) when what they really should be focusing on…
Is increasing revenue.
As this study from the Wimmera region of Australia shows…
The Big Secret Rich Farm Owners Know (and Average Farm Owners Don’t)
Aug 12, 2021
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Why Most Farm Owners are Wealthy on Paper But Not Rich in Their Bank Accounts…
Aug 05, 2021
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When I ask you to picture the wealthiest 1% in the world, who comes to mind?
Jeff Bezos?
Gina Rinehart?
Bill Gates?
What if I told you that YOU are part of that elite group?
Even if it sounds completely insane, it may very likely be true!
Many of the farm owners we know fit the financial cri...
Every Farmer Avoids This...and It Costs Them Everything.
Jul 22, 2021
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^^ This is a countdown to the day you hang up your Akubra for the last time and head to the great farm in the sky.
Okay, maybe not the exact day.
But the reality is, all of us have a countdown timer like this…we just don’t spend much time looking at it.
Forgive us for being so blunt here…
But...
The 4 Biggest Tax Mistakes That Cost Farmers Thousands
Jul 07, 2021
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Ahh, that blissful feeling of finishing your year-end financials.
You’ve totaled the bank balances.
Listed your income and expenses.
Painstakingly answered the 101 questions from your accountant.
And even though you’re breathing a sigh of relief because you’re finished for the year…
…You
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