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 with a $3million asset value would make a yearly return of:
ABARES (2.3%): $69,000
Farm Owners Academy (6.9%): $177,000
The return for the average Farm Owners Academy farmer is 4.6% higher than the average farmer, or $108,000 more per year for a $3m farm.
Multiply that by 10 and you’ve got a difference of $1.08Million over the next decade.
The return for top farmers is even greater…
The top 20% of Farm Owners Academy students see an average return of $337,500…$268,500 more than the average ABARES farmer.
…And that’s just ONE YEAR.
Over a 10-year period, that’s a difference of $2.68Million (enough to buy another property!)
Pretty far out, right?
Many farmers might reckon it’s luck that plays a role. And while this could be part of it, I can guarantee that FOA students run their farms very differently to the average farmer.
So what do the top farmers know that others don’t?
The importance of following a model for their businesses.
Dale Carnegie, one of the most successful businessmen in history, said: “85% of your financial success is due to your personality and ability to analyse, communicate, negotiate, and lead. Only 15% is due to your technical knowledge.”
Let that sink in for a minute…
Only 15% of your financial success is due to your technical knowledge: your skills as they relate to shearing sheep, driving the tractor, working with crops.
So no matter how good you are at those things (and most of the guys here at Farm Owners Academy are really excellent farmers) it’s not enough to achieve financial success.
But when you take a passionate farmer and add the right business model, that gives him the other 85% of the puzzle that leads to PROFOUND RESULTS.
That’s why our Farm Owners Academy students are ultimately so successful: they follow our business model, the TOP Producers Model.
And now, we’re lifting the curtain and sharing it with YOU.
Here’s a sneak peek of the TOP Producers Model:
In a nutshell, this model will teach you how to move from being a technical farmer to a strategic business owner. This is what will get you the improved returns.
Does it take effort and work?
But if you’re committed to running a better business with improved returns for you and your family, then keep an eye on the Farm Owners Academy blog…
Because over the coming weeks, we’re going deeper into each step of the TOP Producers Model.
There’s no cost to you — it’s all free!
Just imagine if you could get a 2% increase in your return on assets managed…
Assuming a $3Million business, that’s $60k a year OR $600k over 10 years.
Does that feel like a crazy dream?
Our Farm Owner Academy students are getting an average of 4.6% higher ROAM than the average farmer. So 2% is actually a pretty conservative goal to shoot for!
It’s completely doable, if you’re serious about this.
This model will transform your farm and your life, if you apply it. And I don’t want to keep it behind the velvet rope any longer.
Stick with us as we walk through the TOP Producers Model over the next few weeks here on the blog…