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What’s the toughest thing about leading the farm?
Farm leaders say it’s all about the big decisions.
3 Min Read
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In talking with farm leaders about what they deal with, one thing that comes up regularly is a sense of pressure or responsibility. It might even be just a vague feeling – one that’s tough to even describe or put into words.
The farm leader might not know exactly where that sense of pressure or responsibility is coming from or what it relates to. But in talking with leaders further, it usually has to do with the reality that they have to make a lot of big decisions.
Making it
The types of decisions that the leader must ultimately make are typically the decisions that can bring about this feeling of pressure, anxiety or uncertainty. It’s the major decisions – whether major in terms of monetary impact, the future direction of the operation, or what to invest in next within the operation.
It can be tough for some farm leaders who can often feel like they’re flying solo when it comes to these decisions. Even if they have others in the operation to talk with, or a spouse or friend, they know they still have the responsibility to make the final call.
Take the pressure off
Here are three things leaders can do to help take some of the pressure off when it comes to making major decisions for their operation.
Create and use a process. Making your own step by step process to use in making big decisions can be helpful for many farm leaders. A process helps take some of the emotion out of the decision, because even the act of going through the steps helps leaders slow down their thought process and bring additional logic to the decision. The process doesn’t have to include a lot of steps – it just needs to bring key questions to ask and important information to consider.
Run the numbers. Another action that can be very useful (and may be good to include as part of your step by step process) is to run whatever numbers are applicable and take a close look at how your operation will be impacted financially by the decision. Always look at multiple scenarios – including a scenario that shows what the financial picture will be like if you choose to take no action. The numbers bring more data and information to the decision, which, again, helps to reduce the emotions that are involved in many major decisions on the farm.
Get a partner. That feeling of “flying solo” around making big decisions by yourself that have major impacts on the farm can cause many leaders to freeze or find themselves in “analysis paralysis,” unable to make any kind of decisions. What helps? Working with someone else from outside of your operation to analyze the information and make the best possible decision. A third party’s perspective can go far in helping farm leaders get clear on the available alternatives, and what the financial scenario looks like when it comes to making a big decision.
Market pressure?
Some of the biggest anxiety-inducing decisions on the farm are around marketing plans and decisions. Our market advisors partner with farm leaders to help with creating plans and executing decisions.
Get a free two-week trial of our marketing information service (MarketView Basic). Your trial includes regular audio and video updates, technical analysis, recommendations and more. Or learn more about our market advisor programs and offerings at www.waterstreetconsulting,com.
The opinions of the author are not necessarily those of Farm Futures or Farm Progress.
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