Profitable Farmer

For many, the last few years have been unique and positive – resulting from low inflation, low-interest rates, above-average commodity prices and above-average production.   Now, our current reality is very different.   We will likely see an extended period of increased inflation, increasing interest rates and softening commodity prices. In addition, from a production standpoint, there is talk of El Nino weather patterns ahead…   The question we should ALL be asking is: Can my farm business model handle this new reality?   In this episode, I call on the “Brains Trust”, inviting Farm Owners Academy Co-Founder Greg Johnsson and Executive Director at RLS Agribusiness Jeff McDonald to join me to explore this question in detail.   We discuss the importance of:   knowing your numbers; presenting proactively to your bank; developing a compelling economic model for your farm; stress-testing your farming system based on long-term average yield & prices; knowing your ‘new’ cost of production; and being financially

At Farm Owners Academy, we help farming families create FREEDOM FARMS – that is a highly profitable business with the systems, structures, team AND performance to be able to work without dependence on you! As a team, we feel proud of the results that hundreds of farming families are achieving in their pursuit of this reality. Over the coming months, I will share some of these outstanding stories with you.   In this episode, I speak with Marina Gregor, who, along with her husband Brett, run a high-performing wool sheep enterprise ‘Willandra’ on Kangaroo Island, about their journey to create a FREEDOM FARM. We explore the wins, challenges and numerous changes they have made along the way as well as how the FOA Community & Team have helped them. We also explore how benchmarking, budgeting, a shift in mindset and business coaching have helped them drive the performance of their farm and build out their business and on-farm team.   Eight years ago, Marina and Brett set down a Big, Hairy, Audacious Goal (BHA

In life, we have the opportunity to meet some remarkable people. Those individuals are often quietly determined to serve others and make a meaningful impact.   I met Mike Stephens, Founder & Chairman of Meridian Agriculture, as an overly enthusiastic and bullish 25-year-old. I have regarded him as a role model and mentor ever since.   One of Australian agriculture’s truly great personalities, Mike has dedicated his career to farmers, to families getting on and to effective farm succession. Two and a half years ago, he completed the largest piece of research into farm succession globally. The insights from this are significant, and Mike shares some of them with us in this interview.   Combined with this is Mike’s incredible ability to communicate and facilitate. As others committed to helping with succession, the depth and accuracy of the questions he asks of individuals and families and the process he takes you through to optimise a succession outcome for you is deeply impressive.   Mike and his team at M

So many farming families I meet feel completely REACTIVE in managing their farms. On so many levels, we often are left feeling like the business is running you, not you it. With all that is going on in a typical week, the long list of improvements to make, the complexities of programs and rotations, the changes of the season… for me, it is easy to see why so many arrive here.   One of my favourite quotes is from global personal performance expert Brian Tracy:   “We feel good about ourselves to the exact degree we feel in control of our lives.”   Three questions for you:  Are you feeling reactive or proactive in your leadership? Out of 10, how much control do you feel you have over the improvement of your plan? Out of 10, how aligned are your family & team to a common goal and clear plan? In this episode, I speak with Farm Owners Academy CEO Sam Johnsson. Sam commenced with us two years ago, following a highly successful corporate leadership career in a large design & engineering consultancy.   In thi

  Technology can be pretty incredible. With its exponential advancement, there is no doubt we are on the cusp of unprecedented change on-farm and across our industry.   Our game is rapidly changing, allowing us to achieve much more with much less.   For me, our future is very exciting. In this episode, I invite you to join me and an audience of 350 progressive, growth-oriented and passionate farmers at one of our Deep Dive conferences (usually exclusively for our Platinum Mastermind members).   In this, Matthew Prior (Managing Partner – Tenacious Ventures) and I interview the impressive CEO and Founder of SwarmFarm Robotics – Andrew Bate. Based on-farm near Emerald in Queensland, Andrew and his family run a highly efficient, large-scale broad-acre cropping operation. In 2012, as a ‘side-hustle’ to their farm, SwarmFarm Robotics was created. Now, some 13 years later, this incredible Ag Tech business employs over 25 staff and is firmly placed as one of the pioneers and world leaders in Autonomous Vehicle

Throughout each year, I value the opportunity to invite our Investment Specialist Terry Tran to join us on Profitable Farmer.   With rising inflation, increasing interest rates, ongoing supply issues and softening commodity prices we are potentially entering a new agri-economic landscape, different from all we have experienced in recent years.   In this podcast we explore how Terry sees the investment landscape at this time. We discuss the important of being proactive and creating diversification with a strong, well-structured, risk-aware off-farm investment portfolio, especially on the back of strong on-farm results.   We discuss in detail Terry’s investment philosophy, his track-record, and how he helps hundreds of farmers and investors across Australia to learn important, value-based investment skills, then take control of their investment portfolios.   Importantly, we explore Robert Kiyasaki’s Cashflow Quadrant (from the book ‘Rich Dad, Poor Dad’) and how each of us can create more wealth with a move over

It is so easy in this game to constantly put in massive hours, ensure everyone around you has what they need, and focus intently on getting the job done. An extended finish, a challenging season and ALREADY the urgent requirement to get set to ‘go again’… I hear of many farming families feeling they must sacrifice their holiday plans to stay on top of production imperatives. Right now, it is critical we stop, take stock, and be reminded of the importance of putting ourselves first. Following a cracking session with Andrew Roberts last episode, I am delighted to invite Farm Owners Academy’s Director of Well-being and Mindset Specialist, Tracy Secombe, to once again join me on the Profitable Farmer Podcast. In this episode, we explore: what is well-being, and what are the key elements; the importance of well-being for each of us; how we can make this a priority, even in intently busy times; and the significant impact this can have on your overall ability to function, lead and succeed. We also discuss three val

So often in this game, we attend only the training put on by the R&D extension agencies or free events by our advisers. So often, we wait for a grant to become available before we commit to a course, or we focus on improving our skills ONLY when there is a subsidy or sponsorship toward the funding of it.  My point is: So many farmers don’t invest enough in themselves! In this episode, Andrew ‘Robbo’ Roberts (Farm Owners Academy Co-Founder) & I re-connect and focus on the impact of making a significant investment in your own development. We reflect on how a commitment of $25,000 toward a business coaching certificate changed everything for each of us. In farming, we will buy flashy cars, new Utes and all the plant & equipment we might need, yet neglect one of the single best investments we can make! In this episode, Robbo & I explore the following: the importance of investing in ourselves; why people don’t do this and what this can mean; why people can be closed to learning new concepts &a

There are some genuinely impressive Australian stories of entrepreneurial success in our industry — true, unsung, modern examples of courage, initiative, determination and pioneering.   For me, Dwain Duxson and the Farm Tender story is one of those.   Founded in March 2012, Farm Tender is Australia’s pre-eminent online buying and selling marketplace for farmers and associated agricultural companies, facilitating sales of grain, hay, farm machinery and agricultural equipment.   With over 62,000 farming members, Farm Tender transacted sales of over 100 million in the 2022 calendar year, providing a valuable, efficient, dependable service to our industry.   Success like this doesn’t come easy. Achievement of this sort follows countless mistakes, multiple failures, immense effort and sheer determination.   From humble farm beginnings to real momentum in the online, two-sided marketplace space, Dwain and his team offer us inspiration as to what is possible when as business leaders, we see a small opportunity, comm

We are excited to be kicking off our first podcast of 2023, we hope everyone had a wonderful Christmas and New Year break. May 2023 be your best year yet!   One of the great things about this time of year is friends dropping in on their holiday travels.   There truly is nothing like old friendships. Whilst visiting us, I am delighted to once again welcome great mate James Kelly to our podcast. As Managing Director to Alchimie Management Consulting, James and his team dedicate much of their focus to helping high-performing teams overcome communication challenges and aligning executive teams leading major construction and corporate projects.   The other great thing about this time of year, is the opportunity to reflect on the season just gone, and then dedicate real time to setting down the plan for the new year.   In this podcast, and over a coffee, he and I explore the importance of planning, and the keys to aligning a team to a common plan.   At FOA, we recommend getting off-site for ideally two full days, w

Business can be a very lonely place. Farming can be isolating.    Sometimes… no, often… we can feel like we are ‘going it alone’.    Our challenges, failings, and issues can feel unique to us.    In my experience, when you commit to joining a Mastermind Group, everything can change. There is much wisdom to call on from those around us, and we quickly realise we are not alone and our issues are not our own.    In a Mastermind, we get to surround ourselves with like-minded, growth-oriented peers. We get to stand on the sturdy shoulders of giants.    As we arrive at the end of 2022, it gives me great pleasure to reflect on the year that was with four incredible families and Platinum Mastermind Members.    In this episode, I invite Michael & Simone Hughes, James & Kylie Armstrong, Luke & Betty-Lou Haydon and Luke & Danielle Wiese to join me for a chat and to reflect on their journey with Farm Owners Academy so far.    Four great Australian families and four simple questions:  Where were you, and w

It has once again been a unique farming season - perhaps one like no other!   In this episode, and once again, I call on Brett Stevenson, Managing Director & Founder of Market Check – the most influential, independent grain marketing and education service for Australian farmers.   Together we explore: an assessment of the current season; advice on the importance of proactive grain marketing at this time; an estimation of short-term grain price movements; a perspective on medium and longer-term price expectations; a view on the key influencers right now for local and global grain markets; and a reminder of the importance of thoughtful price discovery, offering a commodity at a value and then asking the buyer to arrive to it.   Brett provides some incredible insights, which confirms for me why Market Check continues to be the most respected and credible grain marketing firm in Australia.   In the closing, we touch on Brett’s personal story of adversity. Through this, Brett offers us some important commen

Right now, there are many farming families facing real challenges. Extended rains, widespread flooding, the prospect of failed crops, wet paddocks and the complexities all this brings for hay carting, harvest and the end of our season.   A season that promised so much.   A cost-base inflated by the aftermath of a global pandemic.   Seven years ago, Platinum Mastermind members Troy and Nette Fisher, Ashmore Rams (Woolshed, SA) were decimated by the Pinery Fires.   Three years ago, Farm Owners Academy Coach David ‘Westy’ Westbrook dedicated months on Kangaroo Island, supporting fire-affected members of our community with their recovery efforts.   I asked them to join me for this episode to offer some hope and inspiration to those experiencing challenges and their own version of adversity – large or small.   In this episode, I reflect with Troy and Nette on where they have arrived to on the other side of their adversity. I also ask Westy to reflect on what our Farm Owners Academy community on Kangaroo Island di

Dave ‘Westy’ Westbrook here – and I have hijacked this episode of the Profitable Farmer Podcast!   For me, true wealth is about the inner success or the ‘inner hero’ that we all have inside us, and, at the end of the day, our farming businesses are tools to help us create the life we desire.   I am so incredibly excited to welcome three special guests to the podcast - Ironman world champion Trevor Hendy, AFL legend Kane Johnson and breath and Ice bath guru Mark Kluwer.   Recently, 16 men from our Platinum Mastermind community and I attended the “Breath and Break Through Retreat” hosted by Mark, Trevor and Kane at Elevated Springs in Hepburn, Victoria. It was an incredible few days together, focusing on self-awareness, connection, personal growth and a deeper understanding of yourself.   “We want to call ourselves successful, but to be successful requires strength and courage, and the biggest strength and courage we can have, is to be our true self.”   In this episode, we explore some important themes in more

As Part III on the important topic of RESILIENCE, I speak with the incredible Maria Ruberto – specialist in the neuroscience and deep psychology of human resilience.   Her official definition: Advancing despite adversity.   Love this.   I find how our mind works so fascinating. Recent advances in neuroscience continue to help us more deeply understand this area and seem to favour the more innate and humanistic practices advocated for mental well-being, personal development, self-awareness and emotional intelligence.   In fact, there is now a transformational model – the PR6 FACTOR – that outlines the six core domains underpinning human resilience… who knew!!     In this episode, Maria and I explore:   what is it to be resilient; how the mind works from a scientific standpoint; how our mind, when left unchecked, can work against us; how we automatically respond when faced with adversity; how we can self-regulate in order to enhance our response & realities; how big of an issue mental ‘ill-health’ (as the

To speak plainly, family relationships need to be resilient in family business.   To be honest - so often, behind closed doors, simply, they are not.   As Part II on the topic of RESILIENCE, I speak with Farm Owners Academy Director and Soul Pleaser Program Founder, Tracy Secombe – our resident authority on this topic.   In this episode, Tracy & I more deeply explore: how families can compromise an individual’s resilience; how we can improve family relationships and strengthen their resilience; and for family relationships to change, first, I must change how I turn up to those relationships.   So often, we find ourselves in an unhealthy dynamic, whereby the strength of family relationships are left unchecked.   Tracy is a true genius in supporting individuals to reflect on, review and transform important family relationships. Her program “People Pleaser to Soul Pleaser”, and now her recently released best-selling book, is dedicated to helping people do the deeper work on this - creating opportunities for

With R U OK Day taking place last week, I wanted to take a few moments to share a business coaching principle that changed my life.   In my younger years, I constantly struggled with poor self-esteem, low confidence, anxiety and, at times, depression. In addition, I was plagued by an active mindset of sabotaging my own sense of self.   Left unchecked, I hate to think where life might have taken me and where I might be right now.   One of the greatest gifts in my life has been to learn how to do ‘the deeper work’. Focusing on changing my psychology, strengthening my resolve and building my resilience has been an active process that has helped me immensely for over 20 years. In this episode, I share the concept of the IDENTITY ICEBERG and (hopefully) provide you with a model and process that you can work through to help build your resilience and be at your best.   I talk about the self-development work we need to do around the skills, values, priorities, beliefs and identity that define who we are and who we s

Hi [First Name], In leadership, sometimes it pays to take the highest perspective possible. Today, as we find ourselves navigating global political unrest, war, pandemic recovery, disease threat, rising interest rates, inflation and significant seasonal volatility, this has never been more important. For an incredibly insightful global perspective and a highly considered and passionate interpretation tailored just for us – as Australian Farmers – it gives me great pleasure to introduce one of the most brilliant individuals I have ever met! Simon Kuestenmacher is the Co-founder and Director of The Demographics Group based in Melbourne, Australia. Simon holds degrees in geography from leading universities in Berlin and Melbourne and has worked as a business consultant with KPMG Australia for several years. In 2017 Simon, with Bernard Salt, co-founded The Demographics Group. The group provides specialist advice on demographic, consumer and social trends for business. Simon has presented to numerous corporate

As our world continues to change, our commodity and investment markets continue to be impacted by an ongoing series of externalities. To help us understand the current market conditions and to offer direction on navigating a significant recent market correction, I invite our resident investment specialist, Terry Tran, back to the Profitable Farmer Podcast. As always, it is great to connect with Terry and, importantly, understand: what’s happening in the equities markets at present; how best to navigate a current market correction; what’s driving this, political pressures from major global players; and how to make the most of the opportunities presented. As leaders, business owners, investors and exporters, it is important to take a global perspective and understand the new dynamics at play. From Ukraine & Russia to Taiwan, China & the USA, increasing interest rates, inflation, currency and COVID, as always, Terry, it is so valuable to get your insight across all things impacting the investm

Succession is often described as a complex, challenging, confronting, highly emotional and intense process.   At its worst, succession can tear families apart, damage relationships and be the demise of significant farming dynasties. We have all seen this.   In this podcast, I interview succession specialist and ProAgtive Co-Founder Isobel Knight, for another look at this important topic.   “Done well, and applying sound business management fundamentals, succession can be a very positive and creative problem-solving process… one that creates very real and significant opportunities for all involved.”   This is how succession should be.   Over the past 18 years, I have always admired Isobel and the quiet determination she has extended in making a difference for Australian farming families around succession.   I love Isobel’s perspective on succession and how she reminds us to focus on the future and create new opportunities for all involved - finding a way to be respectful, empathetic and grateful in how we arri