Do you want to know how you can attain goals like increased time with family, operational efficiency, profitability and reduced costs – all while maintaining your independence and legacy as a family operation?
Evaluate your time in each key category of your family farm
Don’t be too busy to make money or spend time with family! Ensure you are placing the correct amount of focus on each area, or that you aren’t trying to do everything yourself!
- Who does what in your operation?
- Where are you focusing your time?
- Does your farm have an org. chart showing everyone’s roles and responsibilities?
- Does someone on your team spend a pre-determined amount of time on finding and retaining quality employees?
- How about ensuring that grain marketing opportunities aren’t being overlooked?
The point in these questions is to figure out where you are doing too much, and why you are missing tee ball games.
Many producers talk and think about this level of organization, but don’t have the time to address it properly, especially once the growing season is in full swing.
With that same thought in mind (mental note taking)…
- How can you know where to improve, without a constant understanding of your farm’s financial health?
- Is your working capital in-line?
- Have you bench-marked your salary and benefit packages against your peers?
- Can you afford to add acres?
- Do you need to hire a CFO?
- Or a part time book keeper?
So just how many of these raised an eyebrow – or possibly both? Truth is, these questions take time to address, and likely cannot be understood properly if you are spending all of your time fixing flat tires, or in the tractor.
Operations and Technology
It’s only obvious, operations requires a certain amount of time – and it’s not an option to cut corners when it comes to growing a good crop. However, let us ask you – is your time best spent in the field, in the office, or at home with your family? The challenge for most farm owners is establishing a proper balance of all three.
The key is to find out if hiring additional employees will cost you money in increased salaries, or if it made you money because you were able to spend time on something more important.
Your landowners are your customers, and their satisfaction is a crucial aspect of the sustainability of your farm.
“A business absolutely devoted to service will have only one worry about profits.
They will be embarrassingly large” – Henry Ford.” Tweet this
Keeping track of local, investor, and absentee landowners can be a serious challenge. Most companies have full time people focused on customer satisfaction. Most row crop farms have one of the owners send a Christmas card, or pick up lunch when they see a landowner at a restaurant.
So the question you need to ask yourself is where will you find the time you need to focus on this category of the business if you are already swamped now?
Here’s the deal; the change in the grain markets, without much change in costs for producers, has forced every operation to always be mindful of opportunities for cost reduction.
So the questions under this critical category are…
- How much time do you spend finding ways to lower your costs?
- Where can you add efficiency in your business management, or field work processes?
- Should you be spending more time researching better deals on equipment, inputs, etc.?
Are you spending the right amount of time in the right areas?
Businesses in other industries have entire teamsof people supporting these categories. However, as farms have grown and progressed, the owners often wear all of these hats and more. Which is why constantly evaluating your work load is so important.
If you find yourself struggling to properly prioritize your business, how will you find the time you want to spend with your family?
The bottom line question becomes, can you still play the role of “Dad” and “Husband” while constantly improving your mid-to-large size farm?
Where do I go from here?
Great question! Here’s some options we’d like to suggest…
- Request a free needs assessment – we’re really good listeners and would love to have a conversation.
- Learn more about our comprehensive business management and implementation system needed to drive success
- Download a great ebook titled How Row Crop Consolidation Could Impact Your Farm – if this subject interests you. Share This