Page 24 - Walking the Wire

z Farming the business, Sowing for your future (GRDC, November 2020): www.grdc.com.au/resources-and-publications/all-publications/publications/2015/01/farming-the-business-manual
z Reclaim my financial independence and learn money skills
z How to write a business plan and review farm performance (NSW Department of Primary Industries, Tocal College, 2010): www.tocal.nsw.edu.au/publications/farm-management/agguide-how-write-business-plan
z UQ Skills Business Plan Template: www.qff.org.au/projects/ z Free Rural Resources : https://www.ruralresources.com.au/
TOOLS
z SWOT Analysis Tool: www.business.gov.au/planning/business-plans/swot-analysis z Key Financial Ratios Fact Sheet (GRDC November 2013):
www.grdc.com.au/__data/assets/pdf_file/0016/117322/8116-key-financial-ratios-fs-pdf.pdf.pdf
z Farm Financial Tool: Cash Flow budget Fact Sheet (GRDC November 2013): www.grdc.com.au/__data/assets/pdf_file/0024/165921/8135-farm-financial-tool-cash-flow-budget-fs-pdf.pdf.pdf
z Finance – learn how to keep business records, manage your cash flow and prepare for tax time with the tools and resources: www.business.gov.au/finance
z The 5C’s of credit - What the banks are looking for www.investopedia.com/terms/f/five-c-credit.asp
z Workforce Planning Toolkit (Jobs Queensland): www.jobsqueensland.qld.gov.au/workforce-planning-connect/
HELP
z Rural Financial Counselling Service;
z Agribusiness relationship managers – vulnerable, customer advocates, hardship units;
z Financial Information Service (FIA);
z Lifeline and community services including
Drought Angels;
z Independent financial advisors; z Fairwork Australia; and
z Queensland Rural Industry Development Authority (QRIDA).
CHECKLIST
z Be proactive and inclusive with business planning;
z Clarify the balance of work, family and life;
z Be clear on roles and responsibilities on the farm;
z Establish structure within the business, using process and documentation;
z Use analysis methods: SWOT, STEEP and SMART;
z Start planning succession and retirement now;
z Test budgetary impact using relevant financial documents before implementation;
z Review your business plan findings to give clues to your risks;
z Use measures to help monitor how your business is tracking against
your plan’s goals, objectives and vision;
z Adjust your plans sooner than later;
z Know your risks early;
z Brush up your communication and interpersonal skills, be self-aware;
z Understand conflict management tactics and stress management strategies;
z Put stress management on your meeting agenda and talk about it regularly with your family and team; and
z If you are having trouble, do some training or call in the experts such as a mediator.
24 | Walking the Wire, Strengthening the financial security of rural business women
RESOURCES