In last week’s post, I talked about how time and money are two very valuable, yet limited resources within all farm operations. I discussed how the farm’s success can be impacted by the decisions we make as the farm’s leader on how we spend our time and money.

We may not know exactly how our decision to spend money on a particular purchase or to focus our time within a certain area of the farm business will play out, but there will be an impact in some way. This is why stewarding our time and money is so important.

I asked these questions in relation to how you’re investing time and money in your operation: What do you need to say ‘yes’ to in 2017? What do you need to say ‘no’ to? I focused on the ‘money’ side of those questions last week, and I’d like to share some more thoughts on this, focusing on the ‘time’ side.

Spending time

Have you ever heard the saying, ‘time is money’? It’s just as important to consider where you’re investing and spending your time as looking closely at where you’re investing money.

What do you need to say yes or no to in terms of your time? Are there some ways you might want to refocus or retool your priorities for where you’re spending your time in your operation?

This can be major for your growth as a leader, as well as the success of your operation. You can free yourself to focus in areas where you’ll make the biggest impact on the operation.

Where you’re essential

Set aside a few hours to consider the activities that you – and the other people on your farm – are engaged in throughout the year. What do you or others need to keep doing? What’s critical? Is there anything that’s not necessary because it’s not impacting the farm’s success in some way?

Then, consider which activities you, as the farm’s CEO, definitely need to do personally, and what you might hand off to someone else. Maybe you call upon a member of the farm’s next generation, or a trusted employee. This could be an important leadership step and learning opportunity for them.

One area that many farm leaders find they can hand off to someone else, as their farm grows, is bookkeeping and financial recordkeeping – whether that’s to someone inside or outside of the operation. There might be other areas, such as help with human resources processes, where you might consider bringing others in to help, as well.

For activities and pieces where your touch or insight is essential, work this winter to step up your game in those areas. What can you learn that will help the farm in that area? How will you practice and improve your skills? Who else can you talk to for additional perspectives on the subject? It may be helpful to put together a team of advisors around you to gain perspectives and insights tailored for your operation.

Read the new winter issue of the Smart Series publication, bringing business ideas for today’s farm leader. This issue features tips on harnessing the power of your farm’s numbers, how to set up an employee strategy, and ideas on shielding your farm from unexpected events. Get your free online issue here.

The opinions of the author are not necessarily those of Farm Futures or Penton Agriculture.