Vision plays a key role in agri-business

FUTURE-PROOFING: Anthony Coates, John Whitfeld, Chantal Reid, Heather Smith, Tony Reid and Gordon Stone at Pastoral Profit's seminar.
FUTURE-PROOFING: Anthony Coates, John Whitfeld, Chantal Reid, Heather Smith, Tony Reid and Gordon Stone at Pastoral Profit's seminar. Martin Volz

PRIORITISING agri-business stability and security through transformation were key themes at a Pastoral Profit seminar held at Charleville Racecourse.

Graziers listened to keynote speakers familiar with agri-business transformation.

The speakers aimed to open the communication channels within grazier establishments to find out which direction they are headed.

Pastoral Profit co-ordinator Heather Smith said the discussions also focused on sustainable business growth and longevity.

"Preserving business identity is important,” Ms Smith said.

"Being clear on the future you want for yourself is sometimes not the same thing for the business.”

One of the major issues tackled during the meeting was what steps graziers should take to leverage their assets.

"Leasing and share farming are options,” Ms Smith said.

"Maybe the land is kept for future use because family members may not be ready [to take it on] now.”

Discussions about agri-business strategy are not about money but rather deal with emotions, belief and trust within the family circle.

Siblings Tony and Chantal Reid attended the meeting to see how they could develop business strategy skills when it comes to managing their family-owned meat sheep property at Curragh, Cunnamulla.

Mr Reid said part of their attendance was to get his sister "up to speed” with their family business while she studies at University of Queensland.

"This has opened the conversation up for us about how to talk about what we want to do,” Miss Reid said.

She said she was optimistic their sheep meat business would have a clearer 25-year vision following the discussion.

"People don't talk about business strategy until it is a problem,” she said.

"More of these meetings need to happen.”

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