Nick Ikonomou, CoachNick Business Coaching

Typically, Rural / Agricultural, otherwise known as Agribusinesses are typically generational businesses although a new and young breed of hospitality and tourism centred businesses also are growing rapidly. Most common issues faced are:

  • Finding great farm labour
  • Finding apprentices wanting to pursue a career in your industry
  • Attracting skilled people to their region from other areas including the major cities
  • Trade terms making cashflow tight to pay the rent/mortgage and the employees who are paid usually weekly, if not fortnightly.
  • Large customers dictating unreasonable terms with the industrial supplier
  • The owners are often the most technically qualified in the business, hence, an over reliance on the owner to be around or available, even if on holidays
  • Communication
  • Size of property either too large or too small for the current trade levels
  • Re-investments in equipment is large
  • Distance for labour and transport is costly. Accommodation needing to be catered for
  • Typically old fashioned business skills which can be great, but, sometimes too old fashioned to attract the next generation
  • Succession planning often considered through the kids coming through
  • Competition with overseas suppliers
  • Time management
  • Lack of vision
  • Fatigue
  • Understanding when to get out
  • Marketing knowledge tends to be very low
  • Financial management skills are typically low

Well, I work with my clients on all of the above and if you are in that sector, it would be well worth your time to explore how I could help you.