Beef business mentoring program paying dividends for participants
The Beef CEO Mentoring Program is helping beef business owners think differently about the ‘business’ side of their beef enterprises and is already proving its worth to participant enterprises.
Positive processor relationships, Asian investors, succession success and more
“Already the progress of some participants is astounding and it’s only been a few months since we kicked off the latest round of the Beef CEO Mentoring Program” said ABDI Program Mentor Gordon Stone.
“We’ve been working through issues around succession and family dynamics, tidying up finances, staff management, having a more disciplined business mindset and engaging with the customer”, said Gordon.
“One participant told me during their mentoring session that their top action (or “work-on”) was to… ‘Talk to the customer to find out how best we can meet their needs’. Now, several conversations later with their processor customer, ideas are emerging around how to supply a more profitable high value product that benefits both the beef producer and the processor. This includes developing a longer term game plan where everybody wins.”
“Another has participated in a property tour and had early discussions with an Asian customer looking to invest in Australian beef businesses.”
“Another enterprise is actively planning their business expansion based around bringing one and potentially two of their children into the business. They have finalised the necessary documentation and are close to securing external investors to raise the necessary capital.”
“It’s exciting to see how people expand their thinking when they spend the time necessary to get more clarity, focus and direction about where they want to take their businesses in future,” Gordon said.
Business focus leads to expanded mindset and opportunities
The 12 month business mentoring program is focused on helping beef businesses get clear on where they are heading and to make sure they are investing time and energy in the most profitable activities for their businesses.
The Program is about ‘business’ more so than ‘production’, recognising that these days, an increasing source of frustration for beef business owners is the ‘business side of things’. For example managing business growth, succession planning, financial management, staff management, engaging with customers and developing systems.
Participants work through the ABDI 12 Pillars on Business Best Practice which provides a solid foundation on which to grow their businesses. Personal mentoring sessions provide the opportunity for participants to get support when working through the main issues for their own enterprises.
Next intake: 11–12 May Brisbane
The next intake commences on the 11-12 May in Brisbane.
The Beef Business Mentoring Program is supported by the Agri-Business Development Institute (ABDI), MLA Donor Company, AgForce, the Queensland Department of Agriculture and Fisheries (DAF) and Crowe Horwath.