Let me be straight for a moment.
 
Many of us are making tax ‘minimisation’ decisions at tax time that constrict our growth.
 
Many of us are expecting more of our Accountants than they are equipped to offer.
 
Finally, many of us do not have the people around us that can truly support our professional and business advancement.
 
These three things, especially at tax time, can be costing us a fortune.
 
In this episode, I welcome farm finance specialist Jeff McDonald, Executive Director at RLS Agribusiness, back to the show. I also speak with two FOA Platinum Mastermind graduates and leading farm financial controllers, Emma Strong and Mel Crockett. They share how investing in their financial development has forever changed their farm business performance.
 
In this important conversation, we explore:
 
how Super, FMD’s and spending money at tax time can, in fact, impede your progress;
how to turning a profit and paying tax is a good thing (that should be celebrated);
how as farm owners, WE need to TAKE RESPONSIBILITY for how we present to the banks and do the ‘heavy lifting’ for our bankers; and
how building your financial acumen is CRITICAL to your success and advancement.
 
Speaking plainly once again, perhaps this is you holding your business back?
 
Perhaps a stronger advisory team AND an investment in yourself can be the key changes you can make to move your business forward.
 
Perhaps there are some better, higher-level questions we can each be asking…
 
Perhaps the Farm Financial Framework is for you: www.farmownersacademy.com/fff
 
Thank you all. Thank you, Jeff, Emma & Mel, and enjoy.
 
Hutch
 
P.S. You will hear me speak about the Farm Financial Framework course during this episode. A program I believe deeply in that has helped so many and can create long-lasting change for farm business families. To learn more about the program or join our upcoming our next intake, please CLICK HERE.

Episode 98 - Average business decisions at tax time

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I have said before that there is so much we can learn from business leaders and entrepreneurs outside of our industry.
 
In this episode, I interview Jim Gall, now CEO of RB Sellars.
 
There is no doubt that RB Sellars has been established as an iconic brand across our landscape. Jim reminds us that success in business doesn’t happen overnight and that the strong position they have developed in the market has come from a leadership team with a clear focus. Focusing on a sustainable commitment to a consistent and high-quality product range with outstanding service has led the brand to where they are today.
 
Jim also reminds us of the importance of creating a culture of trust, creativity and innovation to inspire our teams to be actively in pursuit of continuous improvement.
 
He emphasises the importance of encouraging a culture of radical candour, where teams feel safe and empowered to speak their truth and contribute fully and openly at every opportunity.
 
Have you created a culture and focus like this in your business?
Besides Jim’s current contribution at RB Sellars, his entrepreneurial back story is just as impressive.
 
Raised on a family farm near Euroa in Victoria, Jim’s enthusiasm to share his family’s farming story led him to establish Redhanded Creative, a national marketing, communication & advertising agency for Australia’s regional and agri-businesses. 12 years on, Redhanded Creative was acquired by global marketing agency, Clemenger. In the ensuing years, Jim established himself as a natural leader in the company, taking over the CEO role at Clemenger Australia & New Zealand.
 
On his journey through Australia’s Corporate landscape, serving and growing many of the major agribusiness brands we now interact with, Jim has always retained his humility, authenticity and connection to his farming routes.
 
It was wonderful to connect with Jim again after so many years and to have the opportunity to share his insights into our industry, our people and all things leadership.
 
I feel the iconic RB Sellars business and brand are in good hands.
 
Thank you, Jim.
 
Hutch & the Farm Owners Academy Team

Episode 140 –  Leadership lessons with Jim Gall - CEO RB Sellars

In my last episode introduction I asked - who here has felt real financial duress and overwhelming stress or hardship in this game called farming? 
 
In this episode, I explore this theme further with an in-depth interview with Sarah Crossthwaite. Sarah lives and works with her husband and family on a dairy farm in Northeast Victoria. She has an impressive career as an accredited mental health social worker, actively supporting men and women of our industry through times of hardship.
 
Recently Sarah made the decision to complete a Nuffield Scholarship, and embark on a global research project exploring the impact that financial duress, market volatility and government interventions can have on the mental health and well-being of farming families.
 
To say this is an important research piece is an understatement, and I commend Sarah for her dedication and commitment as an advocate for the mental strength and well-being of our industry and rural communities.
 
In this podcast, we explore what it is Sarah sees, what it is she is hoping to achieve through this research, and the impact she hopes her research might have.
 
The Nuffield Foundation is an incredible organisation and global network, committed to supporting research projects like this one that can have an impact of significance on the farming sector – both locally and globally.
 
In this podcast we also explore the process that Sarah has moved through to be accepted as a Nuffield Scholar, and what it is like to be part of that great organisation and global network.
 
You can learn about Sarah’s research project here.
 
You can learn more about and apply for a Nuffield Scholarship here.
 
Also, for support more personally around mental health and well-being – for you or someone you know – we provide some links that might help you:
 
TIACS : https://www.tiacs.org/
Rural Health Connect : https://ruralhealthconnect.com.au/
Rural Aid : https://www.ruralaid.org.au/counsellors/
 
 
Congratulations Sarah, thank you for your time, and I look forward to a follow-up conversation once your research and global tour on this topic is complete.
 
 
Sincerely,
 
Jeremy Hutchings & The Farm Owners Academy Team
 
 
Here are the show notes for the podcast episode:
Sarah Crosthwaite, a mental health social worker and dairy farmer, shares her journey and passion for supporting the wellbeing of farming communities. As a Nuffield scholar, she is researching how financial stress, climate variability, and government policies impact the mental health of farmers and their families.
 
Sarah reflects on her transition from dairy farming to social work, driven by her interest in understanding human development, trauma, and the power of listening without judgment. She discusses the rewarding yet challenging experience of supporting farmers during the 2019-2020 Australian bushfires, emphasizing the need to focus on people's strengths rather than just promoting resilience.
 
Through her Nuffield project, Sarah aims to explore how other countries address mental health challenges in agriculture and uncover best practices to improve support for Australian farmers and rural communities. She shares insights into the rigorous application process, the supportive Nuffield network, and her research focusing on key themes like financial stress, unpredictable weather, and regulatory changes.
 
Sarah also discusses the importance of financial literacy for farmers, as those with better understanding are better equipped to navigate stressful events. She is working to synthesize her findings and present a report to share insights on enhancing mental health support and financial education for the agricultural sector.
 
The 3 key learnings that are likely surprising to the reader are:
Sarah Crosthwaite, a mental health social worker, is also a dairy farmer, highlighting the unique challenges and perspectives she brings to her research.
 
She is advocating for sustainable practices and holistic approache

Episode 139 - How Does The Stress Of Farming Impact Our Mental Well-Being

Who here has felt real financial duress and overwhelming stress and hardship in this game called farming? I feel this is relevant and real for so many - it isn’t always an easy game to play.
 
In this podcast it gives me great pleasure to interview FOA Alumni Members Cassandra & Andrew (Rusty) Kath.
 
From start-up to established, from 50 cows to 500 cows, and from financially and personally broken to a professional and lasting success, the Kathleigh Farms story is now just as much one to watch as it is one to appreciate for their achievement so far.
 
Years ago, Andrew & Cassandra found themselves in a destructive share-farming relationship, placing immense pressure them financially and personally. At rock-bottom, Andrew & Cass dug-deep, focused on themselves and on making meaningful change. They made a massive commitment to join the FOA Community, and with grit, learning and determination have transformed their business and lives.
 
Over the last 5 years, we have seen Kathleigh Farms grow from humble beginnings to being a truly high-performing and professional farm business. We now see this emerging business with the systems, business model, foundations and team to support continued profitability and sustained growth.
 
In this interview we explore:
the importance of focusing on our MINDSET as farmers;
how scarcity and fear-based thinking can limit us;
why doing business with people with similar values is so important;
how surrounding yourself with good people can be a catalyst for change; and
how making our own growth can change everything for the better.
 
We are proud of the resilience, optimism and confidence Andrew & Cassandra both now enjoy, the way in which they have overcome adversity on their journey, and the results they now enjoy.
 
In this interview there is mention of Mark Kluwer’s ‘Breath & Breakthrough’ Men’s Retreat and Tracy Secombe’s Soul Pleaser Program – two programs we recommend to those interested.
 
Thank you Cass & Rusty for your openness and willingness to share. We feel fortunate to have you such active and generous members of the FOA Community, and such valued members of the FOA Team.
 
There are some incredible insights in this – for the first generation farmer and for those feeling real stress and pressure in terms of your reality right now.
 
Use this as inspiration that with focus, better thinking and deep determination good things can come.
 
Sincerely,
Jeremy Hutchings & The Farm Owners Academy Team

Episode 138 - From Rock-Bottom to Sustained Success

So many farming families we meet have businesses that are completely dependent on them. In addition, so many farm owners across Australia’s have business models that are not risk-aware, sufficiently profitable, sustainable, or optimal over time.
 
Is your business model delivering you the outcomes you want from your farm?
 
So often we see farmers ‘rinsing and repeating’ business models that have worked in the past, only to find they are not optimal or even relevant in our current economic climate.
 
To quote Einstein: “Doing the same thing over and again and expecting a different result, is the definition of insanity.”
 
With inflation, increased interest rates and softening commodity prices, it has never been more important to actively stress-test the potential and resilience of the business model you have, then seek to refine, re-engineer and adapt it to ensure it is profitable long-term AND relevant in the current economic climate.
 
The question is, HOW?
 
In this podcast, I speak to this, then advocate for a 90-minute webinar that Farm Owners Academy developed, revealing, “Simple Budgeting for a Profitable Farm”.
 
For anyone wanting to learn how to review, critique and refine their business model… AND master the key skills needed to set down a meaningful budget or cashflow forecast for their business, then click here and watch (a recording of) this webinar:
 
www.farmownersacademy.com/businessmodelling
 
There were over 1,100 farmers registered for this event, and so I feel it is relevant for so many of you right now!
 
Thank you to Greg Johnsson, Sam Johnsson and the FOA Team for the significant effort you have put into making this webinar possible.
 
Enjoy, and I look forward to hearing the change you make on the other side of this significant session.
 
Here’s to the crafting of new, current, and winning farm business models across this community!
 
Sincerely,
 
Jeremy Hutchings & The Farm Owners Academy Team
 
P.S. Did you know that our core program – the Platinum Mastermind was created to help you maximise the profitability of your farm? We now benchmark over $2bn in farm assets annually and we work with over 150 farm owners to help them improve their financials. Please email support@farmownersacademy.com or head to our website https://www.farmownersacademy.com/ for more information

Episode 137 - It Is Our BUSINESS MODEL That Can Set Us Free

I love the concept that perhaps our subconscious programming is the thing that is holding us back.
 
I also like the concept that money is just a tool to give us what we want in life.
 
However, I believe that many of us have a SCARCITY or ABUNDANCE mindset toward money.
 
I like the idea of visualising money as ‘fun tickets’ to be used and enjoyed for me and others, now and in the future.
 
Throughout my journey, I have gotten comfortable with the fact that money:
 
Is not hard to come by
Is not beyond my control
Is not the ‘root of all evil’ and
that it CAN ‘grow on trees!’
 
How is your mindset toward money serving you?
 
In this episode, I call on Investment Specialist and Freedom Trader Terry Tran, to explore:
 
How his attitude toward money has changed.
Where the previous money mindset he inherited might have taken him.
How to think like an INVESTOR rather than a worker.
His beliefs around and approach to making money and investing now.
What it means to create a truly abundant, fulfilled and wealthy life.
 
As a first-generation Aussie who came here as a refugee on a boat as a child, I feel Terry is a true example of how we CAN change our lives by changing our psychology. He has a great insight into what is holding the ‘average Aussie farmer’ back from creating off-farm wealth.
 
Terry has a FREE LIVE online training exclusive for our Farm Owners community called ‘How to Create Off-Farm Wealth Consistently and Safely’ on Tuesday the 5th of March. I recommend you make this a priority – register here: https://www.thefreedomtrader.com/farmownersacademy/
 
It is always great to connect with Terry, have him on our podcast, and see him support farming families across our community.
I hope there is something in this episode of substance for those of you who enjoy it with us.
 
Thank you.
 
Jeremy Hutchings & The Farm Owners Academy Team
 
P.S. - a reminder about Terry’s upcoming webinar ‘How to Create Off-Farm Wealth Consistently and Safely’ - register here: https://www.thefreedomtrader.com/farmownersacademy/
 
P.P.S - We warmly invite you to join us for our FREE webinar “Simple Budgeting for a Profitable Farm” on the 13th of March to equip yourself with the tools and knowledge for creating an accurate budget - that you can actually stick to! Reserve Your Seat Now. https://www.farmownersacademy.com/simple-budgeting-for-a-profitable-farm

Episode 98 - Average business decisions at tax time

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