I was chatting to a farmer the other day, who in conversation made 3 bold and cocky statements… saying them as if he had some badge of honour:
“I don’t have time for office work”,
“I have no interest in the numbers… I leave that to the missus”, and
“It’s all another language to me… I leave it to the pen-pushers”.
At the same time, he was commenting about how chaotic their life was… and how he… “makes decisions based on instinct & gut-feel rather than on analysis & ‘number-crunching…’”.
I didn’t say it… perhaps I should have… but all I was thinking was “what a bloody peanut”.If you are serious about business and dedicated to being the absolute best farm owner you can be, then being financially illiterate is a sure way to NEVER get there.
 
NOW MORE THAN EVER FARMING IS A BUSINESS.
 
CEO’s of ALL successful companies study financial management constantly. Intense analysis, feasibility studies, financial performance monitoring, decision-modelling, forecasting and benchmarking is one of the largest and most important activities they do.
Successful farm owners are across their numbers AND dedicate time in the office to analysing their performance AND making numbers-based performance decisions.
Like it or not, and as Greg points out, "the language of business is finance".
In this important podcast, I interview Farm Owners Academy co-founder, long-time financial analyst and farm financial specialist, Greg Johnsson. We explore the critical reports you have to establish then proactively monitor, AND we explore the core ratios you must measure and benchmark in order to be in control and making meaningful, measured and robust decisions on your farm.
In this webinar, I do not apologise for making an unashamed plug for our new financial literacy training program being launched right now by Farm Owners Academy. It is called the Farm Financial Framework and it commences on 3rd July as a live online in-depth training initiative. 
To learn more, CLICK HERE.
If you are serious about profit and creating wealth and, then this is an essential training program I urge you to prioritise.It’s time to get serious!Sincerely, Jeremy

Episode 48: Financially Literate or Flying Blind...Which One Are You?

This show is all about increasing the profitability of your farm so you work smarter and not harder. Your host, Jeremy Hutchings (CEO of Farm Owners Academy), reveals the best farming business tips for more leverage in your farm business.

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For so many of us, so often our self-confidence and sense of self go up and down with the seasons. We feel good about ourselves when times are good, and we are intently hard on ourselves, and even think we are failing, when the season, the conditions or the markets go against us.
 
Before Christmas we saw a shock hit the sheep-meat market, impacting meat producers at that time significantly. In many areas of our country, we see farming families navigating extended flood events, and in others extended dries.
 
In this podcast I invite Tracy Secombe- Director Well-being & Coaching at FOA- to join me and explore this issue, and how- as a farm business owner- we can overcome it and rise above it.
 
Ladies & gentlemen, we are not our bank account balance. We are so much more than ‘just farmers’ and ‘just farmers wives’. We are leaders of families and great businesses. We are citizens in communities and valued friends to so many. We are good, hard-working, dependable, capable humans doing very good work and making very real differences in so many ways.
 
As we explore in this important discussion, we have the opportunity to take ownership of OUR IDENTITY. We have the opportunity to change our personal story and realise that farming is what we do, it is NOT who we are.
 
In the episode, Tracy shares some tips on how to expand our identity, to include all the important roles we play; how to find a greater sense of balance between them; and how to also shift our sense of self to ‘who we are’ rather than ‘what we do’.
 
Tracy also helps us understand how can best navigate those moments in life when our Identity needs to shift from an active farmer into retirement; from technical farmer to farm business owner; from ‘farmers wife’ to ‘partner in a successful family business’ and from career person to being a Mum & Dad for the first time…
 
Changing our story and embracing practices that support a strpgner sense- of self and a well-rounded IDENTITY is fundamental in the pursuit of growth and expansion in any area of life.
 
Elite athletes, musicians, artists and professionals all get coaching on this – Australian Rugby Captain Michael Hooper’s interview with Ben Crowe on his podcast ‘Car Chats with Crowey’ being a great example. Good enough for them, equally important for us.
 
Thank you Tracy for your time and for your insights on such an important topic at this time.
 
Thank you.
 
Hutch & Team

Episode 141 - You Are Not Your Bank Balance

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 48: Financially Literate or Flying Blind...Which One Are You?

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