At SproutAg, we’re lucky to work with over 2,000 clients and regularly connect with agribusiness leaders across the country. This gives us unique insight into what really drives growth in family farming businesses.
First and foremost – get aligned.
The most important starting point? Ensuring the directors, partners, or current owners are aligned in their thinking around growth. When alignment isn’t there, the business often works hard but spins in circles. You might have a few extra dollars in the bank in ten years, but your asset base, business performance, or personal goals may not have moved much at all.
How do you know you’re aligned? Ask the simple questions:
- Where do you want to live in ten years?
- How do you want to spend your time?
- What are your key personal and business drivers?
- What role would you like to play in the business going forward?
It’s okay if you’re not 100% sure on all the answers, what matters is understanding each other’s priorities and identifying the common ground. If you’re not on the same page, you won’t move forward in the same direction.
Make the time to have these conversations.
We know how busy farm life is. Between the business, the family, and everything in between, time is short. But if you’re serious about growth, step one is setting aside time away from the day-to-day to work on the business, without distractions.
Then, put numbers around the plan.
Every goal needs a financial engine behind it. Growth often means investment, and opportunity, especially if you’re thinking about the next generation.
Start asking:
- Where do we need to be in 3 years to reach our long-term goals?
- What would our first steps be?
- What shape does our cash flow need to be in to make this work?
- What role do I need to play in that?
- Can we actually fund our ideas, or do we need to adjust?
A cashflow forecast is essential. Growth needs cash, and good planning helps ensure you don’t run out when you need it most.
Ongoing improvement is key.
Growth isn’t just about bigger numbers – it often means refining how you run the business, reviewing key processes, and continually improving performance. Regular deep dives into each area of the business are critical to staying on track.
What does a simple growth plan look like?
- Carve out time to work on the business – regularly.
- Align on your long-term personal and business goals.
- Set 3-year targets to bridge the gap.
- Check the cashflow – can you fund the plan?
- Work on the business – not just in it.
- Review and adjust regularly.
And just like that, you’ve built the foundations of a 10-year growth plan.
Need support to make it happen?
At SproutAg, we offer a one-on-one growth program called AgPro, tailored to your unique goals. We walk alongside you to create and implement a personalised strategy that supports real, sustainable growth in both your business and your life.
We’re proud to work with some of the best in the industry and look forward to helping you shape the next decade of your business journey.
Ready to grow? Get in touch with the team at SproutAg.
