The same thinking applies to business.
What are you in business for? Is it farm ownership, financial freedom, lifestyle, family or a combination?
Working through a business plan will let you establish a strategy to answer the WWW strategic thinking framework; Where do you want to be? Where are you now? What do you have to do to get there?
Have you got a business plan or strategy?
Taking time out of a daily business routine and allowing yourself and business partners the space to think strategically about the reason you’re in business, what your business needs to deliver for you and where you want to take your business, is critical to achieving goals.
A business plan is a way of putting together, on paper, thoughts about how you’re going to get where you want to be.
This plan is designed to be a living document which contains information about the business’ purpose, business statements and farming values, what you want your business brand to reflect and current performance, both physical and financial.
It can also include a SWOT analysis, where strengths, weakness, opportunities and threats are identified, actions, and goals. Essentially it becomes a business blueprint.
Spending time on this plan forms the strategy to help you move to where you want to be and puts you in control. It helps everyone involved in a business understand what needs to be achieved and how.
It can be used with an advisory team or rural professional group and should filter through to the team onfarm as well, creating a culture where all employees can see how their daily tasks and responsibilities fit into the larger plan.
Nathan Nelson is a DairyNZ consulting officer for eastern/southern Southland.
