Earlier this year, I attended a farm conference in Victoria, which was put on by a business called Farm Tender. The format and presentation style were one I hadn’t seen before.

Firstly, it was held in a shearing shed, and secondly it was an interview type of format. Participants paid to attend, there were no sponsors, so all speakers were content related, not sales focused.

I quite enjoyed the day and will be attending next year’s event in SA. There are so many options for farmers to avail themselves of information these days, and being discerning about what you attend is a good idea.

Knowing the reason you want to go is a good starting point. The potential of information overload is real, and people need to be aware of this issue.

This event had multiple speakers, and they all were talking on different topics. Interestingly, the attendees were able to see the list of questions prior to the event. All the speakers spoke well and had substantial knowledge on their particular topic.

Finance was an area covered. I know the speaker quite well and he’s a straight shooter on this subject. The take home message for me was farming businesses need to understand the actual cost of running their business.

Farming operations generally have family input of labour and, if this was expensed correctly, the level of profitability may not be as high as they think. In some instances, the farming family may be better off leasing to the neighbours.

Collaborative farming was another subject. The entire talk was quite enlightening. The main message that resonated with me was that you need to be compatible with the people you’re collaborating with.

Some deals may stack up on paper, but the wheels can fall off pretty quickly if you aren’t culturally aligned with the other party. Set the rules upfront, including the exit strategy.

Advocacy of the agricultural sector was also covered by one of the speakers. The value and complexity of farming businesses has increased markedly over the years.

The agricultural sector runs the risk of not advocating effectively on various issues. I admire those that run their own businesses, as well as sitting on industry bodies.

Obtaining specialised advice was the topic for another speaker. This was mainly legal and accounting, particularly in a succession planning context.

We all know this topic is really important and the sooner the conversation starts the better. The take home message for me was having the difficult conversations upfront will make things much easier for the business in the long run.

A young farmer gave a fantastic talk about how his livestock business has evolved across a relatively short period of time.

He spoke about the importance of obtaining valuable information and, just as importantly, implementation.

Being on top of the drivers in your business and being adaptable to prevailing market conditions is paramount.

Another speaker covered the mindset of people on money. Getting to know your numbers is imperative. Having up to date and financials that makes sense is important.

Having an abundance mindset is as important in farming as it is anywhere else. Business coaching can be fundamental for a farming business.

Subconscious emotional blocks in relation to money are a big issue for many people.

I know farmers that allocate time and money each year for professional development and education.

If this is planned correctly, the learnings for the individual and their business can be immense and will soon impact the bottom line in a positive way.