Having a good understanding of your current situation can help you think about where you want to be, and create a plan which gets you there.
What do you currently do? Think about:
- Number of employees
- Hours worked, by employees, family and you
- Land – owned, rented, location, buildings
- Environmental land management
- Livestock – type, numbers, production systems, problems
- Crops – type, production methods, problems
- Other enterprises including diversification
- The margins your business makes
Undertaking a SWOT analysis lets you explore the advantages your business has which will help you achieve your goals, and the issues you will also need to counteract.
- Strengths: What is working well on the farm?
- Weaknesses: Where can you make improvements?
- Opportunities: Where do you see opportunities for your business?
- Threats: What are the biggest threats to your current farming system?
What are the four key areas you need to focus on? These can help you decide on the objectives for your business.