Making More from Sheep Australian Wool Innovation Limited Meat & Livestock Australia
MODULE 1: Plan for Success
What does this module do for you?

Careful planning always increases your chances of being successful. However, setting objectives and making decisions are very individual tasks. Some people like to write detailed plans, while others prefer to keep it all in their heads. On most grazing properties, the planning process is fairly informal, perhaps sometimes a little too informal for such complex systems.

Successful businesses navigate through their challenges because they plan for success. Effective planning delivers the following benefits:

  • Concentrates effort and investment on the important things – the importance of something is determined by its relevance to your objectives and its ability to deliver on those objectives.
  • Saves wasted effort and investment on the distractions – distractions are a cost to the business and only a disciplined approach to identifying them will prevent this waste.
  • Job satisfaction – through clear progress towards your goals and objectives, and confidence in your ability to adjust to new challenges.
  • Avoids losses from the real risks to your business – adverse circumstances cannot be avoided but, if you are prepared, they can be managed to minimise their impact.
  • Avoids lost opportunities as a result of perceived risks – aversion to risk, or overestimation of individual risks, can lead to inertia, which, in turn, leads to missed opportunities.
Module 1 Contents
1.1 Establish business objectives and plans – include personal, social, financial and environmental considerations. View Procedure
1.2 Calculate your cost of production per kg of meat or wool – this is the best indicator of enterprise health. View Procedure
1.3 Compare your business performance against industry benchmarks – assess your performance between years and compare with other farmers. View Procedure
1.4 Quantify risks and develop a risk management plan – assess the likelihood of risks and the potential impact on your business. View Procedure
1.5 Assess enterprise changes and new technologies – making changes introduces uncertainties, but good planning can overcome these. View Procedure
1.1 SWOT analysis - for assessing the pros and cons of an enterprise or action
View Tool
1.2 A simple process for setting goals and objectives View Tool
1.3 How to prepare a business plan View Tool
1.4 Discussion starters for imagining the future View Tool
1.5 Photo Voice View Tool
1.6 MLA cost of production calculator for lamb enterprises View Tool
1.7 AWI cost of production calculator for wool enterprises View Tool
1.8 MLA cost of production calculator for beef enterprises View Tool
1.9 Indicative industry benchmarks View Tool
1.10 A farm business risk assessment template and drought example View Tool
1.11 A partial budget template View Tool
1.12 The SGS one-page planning process View Tool
1.13 Making More From Sheep cost of production calculator for wool & sheepmeat enterprises View Tool