FREEDOM FARMER BLOG
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As you have probably heard, knowing your numbers is key to making great decisions, seizing opportunities, and feeling in control of your business. In my role as a coach, I often see a lot of fear and overwhelm in this area, triggering negative emotions just at the thought of dealing with finances. T...
At school we were taught we always need to have the right answer.
We are rewarded for being right.
In business, it helps if we are right more than we are wrong…
However, if we hold onto always being right, we can get stuck which can constrain our growth.
As business owners, we are better off emb...
In today’s blog, we won’t be exploring something new…
Instead, I want you to forget something that you may have heard time and time again as a farm owner.
It’s possible that this may have even informed many of the decisions that you have made around the enterprises you run on your farm.
If you fe...
Below is a handy checklist to help you achieve Money Mastery.
Before then, as the deadline approaches, we wanted to remind you that today marks the final opportunity to enrol in our Farm Financial Framework Program.
By using the code BUDGET, you can avail yourself of a $500 discount, makin...
We are doing something different this week, by sharing a great case study with you. If you have yet to listen to this podcast, we have shared it below. Well done to Hayley and Martin for this amazing success in farming.
Case Study: Hayley & Martin Grosser, Mixed Sheep & Dryland Cropping Farmers, VI...
Rather than creating and maintaining a budget, think of it more as ‘forecasting your business model’. It isn't just about your bank account; it's a powerful tool for managing cash flow and gaining financial clarity. Additionally, it serves as a decision-making aid and a means to ensure the viability...
What a difference a year can make.
From record prices, and one of the largest appreciations in farmland we have ever seen, to high input costs, with many areas now facing drought and lower commodity prices.
That is farming!!!
There are three things to remember if you are feeling stressed f...
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...
Imagine working 70 hours every week, only to get to the end of the year and realise you are losing money after paying the interest on your loan (while interest rates were 2%)!
Many business owners do this (not just farmers).
They are so busy working that they don’t even know how much money they ...
Most farmers struggle with profits.
Even if your revenues are high, you can still lose money after all your costs, interest payments, and other expenses are paid out.
Like our student Travis..
In the 2014/2015 year, he and his brother had a great revenue on the farm – $2.12Million.
B...
I’ll get right to it…
…because these numbers speak for themselves.
The chart below shows you the Return on Assets Managed (ROAM) for the 2016/2017 year. It’s a comparison of ABARES, Holmes Sackett, and our Farm Owners Academy (FOA) students:
Using those figures, an average Australian farmer...
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