Our approach to Farm Business Planning includes a number of steps.
- Assessment of the current status of the business Benchmarking
- SWOT Analysis
- Goal setting and planning
The three P’s of farming:
The first stage is to assess the current status of the business, based on past performance in all areas, including technical, management and financial.
Benchmarks provide an indication of the efficiency rate at which the business is operating. Benchmarks can be internal or external. Common benchmarks which can be used include:
- Income per Labour Unit Water Use Efficiency
- Cost to Income Ratio Debt to Income Ratio Profit Levels
The SWOT (Strengths, Weaknesses, Opportunities, Threats) Analysis, can be used both as diagnostic analysis of performance, as well as a benchmark for goal setting. The strengths of a business can be the foundation for further development, while at the same time taking particular care to address any weaknesses to ensure they do not limit business performance.
Goal Setting and Planning
We facilitate the setting of technical, financial and management goals for the business. The goals need to be specific, measurable and achievable. Future plans are developed to achieve these goals.