So much of our focus AND the advice we receive is centred around optimising our Farm Businesses.
When we think about off-farm investing, we look to shares and real estate as our primary options.
Remember the small business. Often, the small business we run as a ‘side-hustle’ beside our farms get little attention and are often left to play ‘second fiddle’.
In this podcast, I propose that perhaps our greatest opportunity is in the small business that sits beside our farm business – perhaps there is MORE value to create there? Perhaps your small business may hold the key to helping you achieve expansion, bolster cash flow and move you to the next level!
Do not underestimate the importance and power of a cash-rich business that complements the farm business you have. AND, as farmers, don’t underestimate your business acumen and your entrepreneurial ability.
The business principles and entrepreneurial skills we teach at Farm Owners Academy – when applied to your farm AND non-farm businesses – can together be the perfect combination to set you free! I suggest it just takes a shift in thinking, focus, and a stronger strategic plan to make this happen and THRIVE.
I see so many great examples of this in David & Bianca from ‘Our Cow’, Tom & Phoebe from LambPro, Neil & Coral from the Junee Licorice Factory, Juliet & Huw from the Long Track Pantry, and Sam & Prue from Holbrook Paddock Eggs (just to name but a few)! They have found a way to SCALE with a focus on BUSINESS just as much as FARMING.
If they can do it, why not you?
Remember, TIME is our greatest asset. So if you are squandering time and focusing on low-value activities, I encourage you to STOP, RESET and FIND A WAY to allocate one day per week to working ON YOUR BUSINESS, not in your business… this could be the thing that makes all the difference for you.
I hope this challenges your thinking and offers you some different and BETTER questions over the Christmas and festive season to turn your mind to.
Here’s to the importance of good business practice – applied both ON and OFF farm!
Hutch & the FOA Team
P.S. To speak with us about how we can help you scale your non-farm business… book a ‘let’s have a yarn’ call with Westy by clicking HERE.