Module 1: Plan for Success

Overview

The planning process on most grazing properties is usually informal, but creating a plan that can be shared increases the chances of business success. Successful businesses navigate through their challenges because they plan for success. Both intuition and logic play important roles within the strategic planning processes — the key is knowing where to apply each to create an effective way forward.

Learning outcomes

On completing this module, you should be able to:

establish clear business objectives and plans, which consider personal, social, environmental and financial objectives
develop and document personal and business values and goals to underpin successful business planning and benchmarking
calculate the cost of production of a business in terms of kilograms of meat or wool
compare business performance against industry benchmarks
identify and quantify key production and business risks and develop a risk management plan to mitigate risk
quantify the benefits of enterprise changes and new technology to understand the potential return or benefit before their implementation
plan for success to ensure business sustainability and family cohesiveness.