DIGGING DEEPER - Benchmarking Success: Insights with John Francis

Send us a textIn this episode of 'Digging Deeper,' hosts Alistair and Jen Smith welcome special guest John Francis, a former jackaroo, agronomist, and the director of Agrista, a consultancy firm in Wagga Wagga, New South Wales. The discussion focuses on the importance of integrating scientific knowledge with financial management in farm businesses. John shares his expertise on farm benchmarking, a method that compares farm business performance metrics with other similar farms or past performance, to identify areas for improvement. The episode dives deep into the relationship between production and profitability, and how benchmarking can help farmers optimize their resource and skill base. Real-life examples and the importance of planning for different feed and pasture growth scenarios to tackle challenging times are emphasized. Additionally, it touches upon the psychological aspects of decision-making in farming and introduces the Livestock Farm Monitor project by Agriculture Victoria as an additional resource for farmers.00:00 Introduction and Guest Welcome01:17 John Francis' Background and Work02:44 Farm Benchmarking and Profitability06:52 Understanding Benchmarking11:54 Insights from Gippsland Growth Group15:34 Challenges and Opportunities in Farm Management16:53 Starting the Benchmarking Journey25:44 Planning for Dry Times29:19 Market Changes and Challenges33:50 Final Thoughts and Surprising Learnings

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