Our Farm, Our Plan helps dairy farmers set goals

Effective planning builds a farm's capability and equips farmers to make better decisions that increase profit and wealth over time.

This is absolutely essential for them to achieve long-term business and personal goals.

Planning also prepares a farmer and their farm to face and overcome market challenges and risks to better manage for volatility.

In a world with rising costs and stretched supply chains, it is now more important than ever to have a good business plan.

That's why, as part of Dairy Australia's commitment to enhancing farm business management, dairy farmers are provided with access to free business planning and risk management tools and insights to support on-farm decision making and improve profitability.

One of the first steps towards reaching business goals and improving farm profitability is to identify what those goals.

It's easy for a farmer to carry them around in their head but putting them down on paper and sharing them with their farm team ensures everyone understands what the vision for the farm is and can work towards it.

Our Farm, Our Plan is a free program offered by Dairy Australia to help farmers develop a customised plan for a farm.

Developed with support from the Gardiner Dairy Foundation, Our Farm, Our Plan gives farmers free access to experienced dairy experts to help set out short-term and long-term goals.

It also offers on-going one-on-one support for 24 months to help farmers plan more effectively for the future.

Sara-Jane Rae, a dairy farmer from southwest Victoria, recommends Our Farm, OurPlan.

"It is all about focusing on where we are, and the stepping stones for where we want to get to," Ms Rae said.

"It helps us to get our ideas out of our heads and onto a piece of paper so we can visually see them."

She encouraged other farmers to try Our Farm, Our Plan.

"Jump at it - you'll meet people along the way, and you've got great support from Dairy Australia.

"I wouldn't think twice about it now. Definitely do it.

I thought in the first half hour, I'll know whether I want to do it or not, but... definitely do it."

Fellow southwest Victorian farmer Tracy Gaut agreed.

"I did the course... and I loved it," she said.

"It helps me and my husband and the kids get to where we want to be."

To assist with planning, farmers also need to have a realistic understanding of the financial position their business.

Dairy Australia has a number of free online business analysis tools that can help farmers get a better understanding of their financial position.

The Farm Business Snapshot is a free online tool and a great place to start for a basic understanding of overall profitability.

Aligned with the Standard Chart of Accounts, the Farm Business Snapshot provides annual farm analysis with only minimal data input needed.

It allows farmers to easily benchmark their business performance against farms in their region.

For a more comprehensive look at a farm's financial position, DairyBase is a free, easy-to-use online business analysis tool that helps farmers strategically measure, track and compare their business performance and to others in the region.

DairyBase enables farmers to identify opportunities that can drive profit and manage risk supporting better informed decisions.

With more than 10,000 industry datasets DairyBase has 1800 farmers registered using the analysis tool supporting enhanced profitability.

Farmers can access all of these programs and tools free on the Dairy Australia website. To find out how to improve profitability through enhanced farm business management visit dairyaustralia.com.au/farmbusiness.

This story was originally published in The Australian Dairyfarmer magazine, May-June 2023 issue.

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