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Catalogue: Ground Cover
Farm business grows on novel mix of options.. The plan was to cold-press canola to produce oil for use in animal feeds and biodiesel, with canola meal also sold for animal feed... Rob says there is nothing new in the technology to cold-press oilseeds, but it is the only operation of its kind in Tasmania...
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Catalogue: GRDC Factsheets
KEY POINTS A business plan should outline where you are now, where you want to go and how you are going to get there... Business planning provides a process for putting your vision for the business into writing and action... A SWOT analysis is a great tool for analysing your business and determining goals and actions...
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Catalogue: GRDC Updates
Succession planning must be seen as an ongoing process of high-quality human resource management.. The approach applies equally to consulting businesses as it does to farming businesses... The three basic principles we applied are: everyone in the business knows their role and responsibility clearly and is rewarded the capital contributed or used by the business (in the case of RMCG the buildings) are rented from the owners of the capital the profit is distributed after everyone is rewarded and the capital is rented based on this share of ownership of the business...
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Catalogue: GRDC Updates
The items that have greatest impact on profit are the commodity prices that are achieved, the amount of commodities produced and what it costs to run the business in that year... The results shown in Figure 1 indicate the relative importance that a 5% shift has on business profits... There is a need to get smarter at obtaining this information to drive farm business profits...
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Catalogue: GRDC Updates
Front End - people joining the business.. Back End - people leaving the business.. If family businesses make the majority of their decisions considering the impacts on family only , the business is often left bearing the negative consequences of these decisions...
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Catalogue: GRDC Factsheets
Leadership reflects the 'essence' or footprint of the business and personalises its values... Leadership in business Effective leadership provides a foundation to work towards a clear vision or goal... be open; be fair; have integrity; speak your feelings; tell the truth; show consistency; fulfil your promises; maintain confidences; practise humility - give credit where credit is due; practise empathy - focus on active listening; employ the right attitude; be a 'coaching' leader - suits the younger generation, i.e. Gen Y; and be a role model for the business and team...
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Catalogue: GRDC Factsheets
Machinery in cropping enterprises can be up to 30 per cent of a business's total asset value, land being the other main asset... A business with an average annual farm income of $1 million may plan to spend an average of $80,000 to $140,000 per year on machinery capital replacement... The items can be financed to spread the annual capital cost...
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Catalogue: GRDC Updates
Keywords: farm business management, increasing scale, escalating costs, volatility, people.. As a farm becomes bigger and involves another generation, there is a need to turn our attention to the people inside the organisation and the formalities (job descriptions, staff reviews, training, individual equity in the business) needed to foster their individual long term growth and development... As grain farming has become a more sophisticated business, there is a heightened need to source reliable, skilled and informed assistance to enhance the quality of decision making...
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Catalogue: GRDC Updates
If we want to create long term relationships within our businesses, and with those we deal with, we need to create an environment where all parties have something to gain, no matter the circumstances... In many ways we might say 'there is no model' and 'there are no rules' as we believe there are always opportunities to create efficiencies and economies of scale, but these may vary significantly from business to business... The issues which are faced by family farms may be complex on a range of levels, but we believe the potential to create structural and production efficiencies through collaboration can create enormous benefits...
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Catalogue: GRDC Updates
When considering how to attract the next generation to your business it is important to firstly understand the attributes of each generation, their motivators and be able to accommodate their needs and interests in a way which will be very different to when you returned home to the family farm business... If you can offer a work environment which takes these factors into consideration we guarantee you will not have a problem attracting the next generation back to your business... 5. Learning is very important to this next generation and they appreciate and believe in the need to keep learning to progress the business...
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