We are a diversified farming business, with a large dairy herd a number of acres of arable crops and three to four diversified enterprises - Self Storage, Glamping, Fly Fishing and Corporate Events and over the past twelve to eighteen months our business has been on a bit of a journey.
From gently bumbling along, with reasonable prices and enough profit to feed the family we were hit with a significant milk price drop and combined with a couple of other unfortunate financial incidents we found ourselves with ever increasing borrowings. And, as any of you who run businesses know - banks don't like that.
This, combined with a number of unforeseen incidents with staff made us significantly think how we run this business and started us on a journey of learning, being coached, adapting, changing and re-structuring.
It has been a humbling experience of learning just how much we don't know and how much good business practice that we haven't been applying.
Having been through an extensive learning phase, we are now beginning to apply some much better strategies and approaches which, although early days, I believe are just beginning to pay off.
Over the next few weeks, I will outline some of the specifics of what we have done and keep a note in this blog of the impact that it is making and the unforeseen pitfalls that we are bound to fall into.