RESILIENT BUSINESSES NORTHERN CATTLE Here are some practical strategies to help with decision making. 1. Maintain an up-to-date budget and Other formal plans are just as important What can you operating plan for risk management, including: do right now? These documents should reflect personal • Workplace health and safety: Don’t and business strengths and weaknesses underestimate the cost of poor as well as available resources (land, Take a critical look at pastures workplace safety and not having the and set appropriate stocking livestock, people and money). right paperwork and procedures, rates through autumn and Know your cost structures, where fat such as staff, contractor and visitor winter. Strategies to help set can be trimmed from the business inductions. A major accident or death stocking rates according to and how any cost cuts would affect on property is not only stressful the feed that is actually (not production. For example, cutting a for everyone involved but the historically) on hand at this time supplement budget will reduce growth compensation and legal implications of year include the following: and reproduction. could send a business under. • Reassess land condition: “A budget is not a static document, it’s • Biosecurity plans: Establishing futurebeef.com.au/knowledge- a flight plan,” Rebecca said. quarantine paddocks for livestock or centre/land-condition weed washdown bays for vehicles “If you have to detour, it provides a way minimise the risk of disease, weed and • Estimate current standing dry back, but if you don’t regularly look at it, pest incursions and could save a lot of matter using pasture growth you could end up lost or going in circles.” time and money down the track. tools: longpaddock.qld.gov.au • Develop a feed budget Northern producers can attend MLA’s 4. Build support networks to calculate how many Business EDGE workshop to enhance “When you have a team of people livestock you can run: their knowledge and skills in basic involved, it forces you to stop and mla.com.au/feedbudget financial and business management to consider areas of opportunity, growth improve efficiency and profitability. and threats on a regular basis – before Be vigilant about the spread small problems become big ones. of invasive weeds when it 2. Maintain accessible and does rain. Monitor fodder drop up-to-date information “It’s the job of your trusted advisors to sites for introduced weeds This includes livestock numbers, be on top of developments in their area and look for weeds spread by property maps (including pipelines and of specialty and know your business floodwaters, such as prickly underground electricity) and financial well enough to identify where new acacia: dcq.org.au/projects/ documents such as wills and insurance advances can be useful,” Rebecca said. prickly-acacia-control. policies. Store copies offsite or online sob “It’s just as vital to have a personal the cany e accessed if the homestead Check your life insurance and or office is destroyed or inaccessible. support network, especially during and wills. Do you have them? Are after extreme circumstances.” ■ they up‑to‑date? Are they safe The FarmMap4D Spatial Hub provides and accessible? land managers with data and mapping David Phelps tools to develop accurate digital E: David.Phelps@daf.qld.gov.au Update your budgets (including property plans and infrastructure maps Rebecca Mohr‑Bell feed and production budgets) (farmmap4d.com.au). E: rebecca@argyllconsulting.com.au to actual expenditure and commit to doing this at least 3. Protect your business with wills, EDGEnetwork: mla.com.au/edge once per quarter. succession plans and on-farm policies “People often think preparing a will or Profitable Grazing Systems: Ask yourself some ‘what if?’ succession plan means they’re handing mla.com.au/pgs questions: what would we do over control – or others think they’re at if a key decision maker died? death’s door and no longer useful – but What would we do if we had a it’s really about protecting your family flood, fire or disease outbreak? and business,” Rebecca said. 19