What Is a Producer Business Group?
It is a group of like-minded producers in a given region who come together to:
- Expand their evidence-based knowledge on all aspects of farm business performance.
- Improve the performance of their farm business in order to meet all family needs into the future.
- Exchange knowledge, ideas and experience for the benefit of other group members in an open environment.
Who Runs These Groups?
Groups are facilitated by professionals from Bush AgriBusiness, with outside expertise brought in as required. All of the professionals involved have extensive knowledge and experience of beef businesses.
The groups are based on a model developed over the last 30 years, in which time 20 business groups involving 250 farm businesses have been facilitated in all states of Australia, and many of them are still going.
The Role of Benchmarking
There is a common misconception that the central focus of these groups is the benchmarking process. That is, the collection and collation of financial and production data from each business in order to produce a performance report. This is performed using the Business Analyser®, a proprietary process developed by Bush AgriBusiness which was used to perform the analysis which underpinned the Australian Beef Report and the Northern Beef Report. The report provides considerable detail on the performance of the individual business, identifying its strengths and weaknesses.
How Does It Work?
Most groups meet 2-4 times per year, depending on group needs. One of these meetings is when the most recent years benchmarking data are discussed in detail and the other meetings are on property sessions where the host business becomes the case study for the day.
The common objective for all groups, irrespective of location, is improved business performance. Although the technical issues to be addressed are location dependent, the common features are:
- Training to think both critically and rationally
- Developing a high level of financial literacy
- Demanding high quality evidence for all business decision making
- Harnessing the collective wisdom of group members to provide valuable high-level business insights based on hard won knowledge and experience
- Developing a superior understanding of, and the ability to influence the critical profit drivers in any enterprise.