The demands for a rural business differ from other business processes and structures. CoachNick has worked with many businesses in the Agricultural sector and will work alongside you and define your goals and formulate visions that tie well with your company’s projection and ideology. Agribusinesses are typically generational businesses although a new and young breed of hospitality and tourism centred businesses also are growing rapidly.
Accurately measure the performance of your agribusiness every month relying on foresight, not once a year and only with hindsight. Confidently plan for the future by simply and easily forecasting financial outcomes to take opportunities and avoid threats. Identify and manage any emerging risks involved within the Agricultural sector. Dramatically reduce your level of stress and anxiety all with CoachNick’s guidance and expertise in Rural business coaching!
Typically, Rural / Agricultural, otherwise known as Agribusinesses are typically generational businesses although a new and young breed of hospitality and tourism centred businesses also are grwing rapidly. Most common issues faced are:
- Finding great farm labour
- Finding apprentices wanting to pursue a career in their industry
- Attracting skilled people to their region from other areas including the major cities
- Trade terms making cashflow tight to pay the rent/mortgage and the employees who are paid usually weekly, if not fortnightly.
- Large customers dictating unreasonable terms with the industrial supplier
- The owners are often the most technically qualified in the business, hence, an over reliance on the owner to be around or available, even if on holidays
- Size of property either too large or too small for the current trade levels
- Re-investments in equipment is large
- Distance for labour and transport is costly. Accommodation needing to be catered for
- Typically old fashioned business skills which can be great, but, sometimes too old fashioned to attract the next generation
- Succession planning often considered through the kids coming through
- Competition with overseas suppliers
- Time management
- Lack of vision
- Understanding when to get out
- Marketing knowledge tends to be very low
- Financial management skills are typically low