Small gains, big difference
Here at RBC Royal Bank, we are fortunate to serve many of the country’s best
producers as valued long-term clients. These clients span sectors as diverse as
grains and oilseeds, hogs, dairy, greenhouse, beef, poultry and others. While
these sectors are very distinct from each other, many of our clients share similar
management attributes.
No matter how well their business might be performing, these producers never
stop looking for better ways to do things. As accomplished farmers and ranchers,
these people don’t expect to find one blockbuster idea that will instantly improve
the business by 100 per cent. Rather, they’re looking to find 100 ideas that can each
improve the business by one per cent over a period of years. These 100 small ideas
can be found in many possible areas. Here are just a few.
Technology. Canada’s top farmers and ranchers aren’t necessarily the very first
adopters of new technology. These producers, however, are noted for their intelligent
application of this technology. In crop operations, these are the people whose yield
monitor is always on, and who make agronomic decisions based on the data.
They are familiar with the new generation of farm decision software that allows
producers to explore what-if scenarios from many angles.
Asset management. In the traditional model, producers own the land they farm
and own the equipment they farm it with. Increasingly, top producers value the
financial flexibility they can achieve by leasing or sharing assets rather than owning
them. Some producers will even swap land in order to achieve their individual
crop rotational goals.
Creative thinking. Those of us who were raised on a farm, and who have worked
in the industry for years, tend to embody the styles of thinking that we grew up
with. Some of our most successful clients these days did not grow up on a farm
at all, and were not necessarily trained in agriculture. These people attack problems
from a different perspective, and tend to be impatient with the way things have
always been done. They see production as being one part of their business, not
the whole business. They are creative in the way they market their products and
make new relationships.
There is much about traditional approaches to agriculture that has stood the test
of time. Still, in today’s fast-moving global market, finding 100 of those one per cent
ideas will require Canadian farmers and ranchers to think outside traditional
boundaries more than ever.
If you’re looking for new ideas and fresh approaches this spring, your
RBC Royal Bank account manager is ready to help. On behalf of RBC Royal Bank,
all the best for farm and family this season.
|
