Between Greg and I, we’ve been working with farmers for 50 years.
And during that time, we’ve noticed a really troubling trend:
Most farmers stay stuck, forever.
Longer than forever, actually…
Because they spend a lifetime stuck and then pass that legacy down to their kids and then they stay stuck and the cycle continues for generations.
We’ve also seen the other side…
Our Farm Owners Academy students make, on average, 4.6% higher Returns on Assets Managed than the average Australian farmer – meaning that they make $108,000 more every year (assuming a $3million property).
In analysing the TOP producers compared to the average “stuck” farmers, we noticed 7 key mistakes that the average farmers were making.
These mistakes keep the average farmers stuck, grinding away but never achieving the financial success they know they’re capable of.
The good news is that all 7 of these mistakes are fixable. Once you learn what they are, you can improve on them and get out of the “stuck” cycle for good.
In this blog post, we’ll break down each mistake and then give you the first action step to fix it:
Mistake 1: Thinking They Don’t Have Enough Time
I’m the son of a wool farmer so I know how busy you are.
You’re working 10, 12, 14 hours every day…and there’s still work to be done when you pack up at night.
So it makes sense that you reckon lack of time is your problem.
But in reality, it’s not about time management…it’s about priority management.
The most profitable farmers manage to find time to grow their businesses. So you can, too.
It’s really about focusing your limited time on the MOST important tasks. It’s about getting clarity on the $500/hour tasks that will really propel your business forward… and hiring help to do the $25/hour jobs that eat up your time.
Your first step to cure this mistake: Open yourself up to the possibility that you DO have enough time.
There’s so much power in the beliefs we have. (We’ll talk more about this in our next blog post.) So if you keep telling yourself, “I don’t have enough time,” you’ll never have enough time!
The key is to start paying attention to how you use your time. Throughout your day, ask yourself: “Is this really the best use of my time? Is it moving me towards my big goals? Or would I be better off hiring someone else at $25/hour to do this job?”
(Priority management is a key module inside our Take Control Program. Many people have told us that this is the best time management course they have ever done and that they have tripled their productivity since completing this module! Click here to learn more.)
Mistake 2: Lack of Big Vision
For most farmers, there’s so much to do on the farm that they’re not really thinking big picture.
They’re just trying to get through the day! They never think about how it will affect their year, 3-year picture, 10-year picture, or the life of the farm.
As a result, they keep repeating the same day, month, and year over and over again…never really improving or growing.
To get un-stuck, you need to create a big vision of where you want the farm to be 10 years from now.
Really let yourself dream and imagine how great life could be if the farm was more profitable and could run without you. What would that look like?
And here’s the kicker…
Don’t be skeptical about this. Don’t fall into the trap of thinking anything that looks good is too good to be true. Don’t reject the idea that you have the ability to transform your life.
You CAN have more money, time, and freedom on the farm. But you have to be open-minded or you’ll miss the opportunities in front of you.
This picture says it all:
Your first step to cure this mistake: Start believing in what’s possible. (A coach is a massive help here!)
A coach will see more in you than you will. I should know…a coach pulled me out of my darkest time and helped me build two million-dollar businesses…simply by helping me believe in that bigger vision!
You can speak to one of our coaches for a free session where you’ll start to see the possibilities in front of you. (What do you have to lose…it’s free!)
Mistake 3: No Ongoing Education
If you think education is expensive, try ignorance!
All jokes aside, ongoing education is something all top farm owners invest in. The stuck farmers reckon they know it all…but the profitable farmers know there are always ways they can improve.
TOP producers are constantly learning. They’re listening to podcasts, reading books and articles, taking courses. They’re always looking UP – to people who are doing it better than them and can help them continue to get better.
RELATED PODCAST: The More You Learn, the More You Earn
I don’t know about you…but I want to stay young. Top farmers never reach a point where they stop learning. That’s when you plateau, which is a fancy word for “stuck.”
The good news is that you’re here reading this blog, which shows me you’re taking steps to learn and grow. You’re already ahead of the game!
Your first step to cure this mistake: Learn with us (for free).
Hop on our FREE webinar The 3-Step System for a Highly Profitable Farm to learn how to free up 20 hours in your week (yes, really!)
You’ll walk away with proven strategies to better leverage your hours, so you can make time for the high-level work to grow your business. This is an easy step to continue your education and become the best farmer you can be.
Mistake 4: Letting Fear and Doubt Stop Them from Having a Go
Here’s something I’ve learned over my 20 years as a business coach…
Doubt kills more dreams than failure ever will.
A comfort zone is a beautiful place…but nothing ever grows there. The only time you’re actually growing is when you’re uncomfortable and stretching yourself to be better.
Average farmers let fear and doubt dictate their actions:
● What if I try my hardest and it doesn’t work out?
● Am I really good/smart/strong enough to do this?
● What will people think if I fail?
The fear and uncertainty stop most farmers from taking action, forever staying stuck in place.
But successful farm owners know that fear is part of the process of growth. So they feel the fear…and then do it anyway.
As I always say, you can’t steer a parked car. You need to be moving! Even if you’re driving in the wrong direction, that’s okay — you can use your momentum to turn around and try again.
TOP Producers know that failure is just feedback to start again more intelligently. And they’re not afraid of messing up…they’ll just get back up and start again.
Your first step to cure this mistake: Because the fear of failure is something we all struggle with, we recorded a podcast episode to talk more about ways to outsmart it. Click below to listen:
RELATED PODCAST: How to Deal with the Fear of Failure
Mistake 5: C.A.T.F.W.
Enough said. 😉
Seriously, though. There are plenty of things you can’t control in farming – the weather is one of them.
A TOP Producer will make money, no matter what the weather is. An average, stuck farmer won’t make much money, even if the weather’s perfect.
RELATED PODCAST: It’s How You React to the Drought that Matters Most
You can complain about the weather all day and blame it for your misfortune. OR…you can get serious about creating a business that won’t be broken by one or two bad seasons.
The choice is yours.
Your first step to cure this mistake: Stop CATFW. It’s that simple!
Mistake 6: All Learning, No DOING
Most people believe that knowledge is power. But knowledge is only potential power.
Implementation is the true power.
Success is rather simple:
- Plan the things you need to do to grow your business
- Do them
Some people succeed because they are destined to. But most people succeed because they are DETERMINED to.
Actually doing all the things you plan to do is the difference between staying stuck and being successful.
This is why coaching is so powerful.
A coach doesn’t just help you strategise how to grow your farm, they’ll also push you to follow through. They won’t accept excuses or let you coast by. They’ll help you make the time and create the systems so that you’re taking action every day, week, month, and year, to help you achieve your big 10-year vision.
Your first step to cure this mistake: If you’re really ready to commit to taking action and making big changes to increase your farm’s profits, check out our Take Control Program.
This is a 12-week coaching and mentoring program to help you become the best farmer you can be. Click here to learn more about Take Control.
Mistake 7: Not Following a Model
Many farmers go to courses and learn about the technical aspects of farming, but they don’t know how to put it all together.
They don’t understand how to balance the mindset stuff with the action steps with the day-to-day running of the farm. As a result, nothing really changes.
That’s where a model comes in.
A model gives you a framework to follow. It’s a set of processes that, when put together, help you achieve your goals and objectives.
It’s kind of like paint-by-numbers. You simply follow the steps inside the model and before you know it, you’re making huge progress towards your big vision.
When you take a passionate farmer and add the right business model it leads to PROFOUND RESULTS.
At Farm Owners Academy, we created a business model that is proven to help you maximise your returns. When you give yourself a few years to implement this model, you’ll completely transform your business and your life.
Your first step to cure this mistake: Read next week’s blog post. We’re going to start walking through the TOP Producers Model. ← This is the model you need to transform your farm!
“Some people get results, other people find excuses.” – Arnold Schwarzenegger
What about you?
Are you ready to step up and become the best farmer you can be? Or will you continue making excuses for why you’re staying stuck?
I really hope you choose Option #1. Because over the next few blog posts, you’re going to learn the model to help you transform your farm.