Farmer Focus: Never mind the tractors, do the spreadsheets
Do you make new year resolutions? I do. Usually a whole list of them. I get quite obsessive about them too, reviewing how I am doing at the end of every month.
I never worry if I’m not on track with all of them because there is sometimes an unforeseen reason why things can’t be done.
See also: Pesticide rules: NI arable farmers losing out under Brexit
Things change and that’s fine, but writing down resolutions is a physical personal confession of an intention to do things differently for the better, and by regularly reviewing them keeps you on the hook.
I don’t advise making resolutions on New Year’s Day as you’ll write something stupid like “I need to stop drinking”, which, as we all know, is unachievable and no fun.
I tried it for a month last January. I even bored myself. No, the two best times are between Christmas and New Year or after going to the Oxford conferences in early January when you return to the farm with renewed vigour, flushed with ambition.
Resolutions should be private, but in the spirit of seasonal good will I am happy to share one of my personal pledges.
Whether or not you viewed the chancellor of the exchequer’s recent Budget as an opportunity or a death knell, my feeling is that in 2025 I need to spend more time “on” my business rather than “in” it.
Sitting on a shiny new tractor is fun, and pouring over a spreadsheet in the evening realising that you can’t afford it less so, but it’s a job we need to do.
I was inspired at a pre-Christmas meeting to carry out a 10-year cash projection.
Multiplying anything by 10 can be alarming, but it could illuminate the route to finance a new grain store or demonstrate that you are going to have to put up with the one you’ve got. Do the figures. I’ll show you mine if you show me yours!
Wishing you all an extremely prosperous new year.