18 Nov 2024
Empowering farmers through agribusiness
An appreciation of farm business and environmental sustainability were instilled into RMCG Consultant Lauren Jones at an early age. These qualities have put her in good stead to co-lead RMCG’s Agribusiness team which helps farmers improve their business’s security and future farm sustainability.
For Lauren, her role as an agribusiness consultant begins around a farmer’s kitchen table where she helps to start the “farm business conversation” between all members of the family.
RMCG Consultant Lauren Jones in the field.
“On so many occasions it is hard for a farming family to begin the dialogue that involves planning both their individual and business’s future goals,” she said.
“The fulfilling challenge for me is to have this discussion, develop realistic financial goals and then start planning their future growth.”
Lauren said taking farmers on a step-by step journey through the process of developing a business plan helped them realise how the farm could become more resilient.
The journey into the world of farm business
Her own journey into the world of farm business took a roundabout route, starting with a degree in Conservation Ecology. Lauren wasn’t raised on a farm, but spent time with an uncle and saw firsthand how his farm’s productivity and profitability could be improved through caring for the land and creating a sustainable environment.
“I like the practicality of farmers and the way they make such a positive contribution to our world through looking after the environment, but at the same time gaining positive returns for their business,” Lauren said.
Lauren began her career with department store Myer as an analysis and planning manager working on strategic plans, budgets and analytical reports and met with, purchased and negotiated with the company’s suppliers.
After moving to Bendigo, Lauren returned to university to undertake a Bachelor of Business (Accounting), however she quickly changed her major when Agribusiness was introduced as a subject choice.
“While I was finishing my studies, I started working at RMCG’s Bendigo office as a Financial Officer but was keen to move into consulting once I’d completed my degree,” Lauren said.
“My eventual move into RMCG’s agribusiness team now allows me to work with some amazing farmers doing work that I really love and that makes a difference to their world.”
The kitchen table meetings
Much of Lauren’s work takes place at a farmer’s kitchen table where she does a lot of benchmarking through learning about their business, creating realistic goals and then works towards making their farm more resilient, both economically and environmentally.
“I enjoy the multi-disciplinary aspects of working in the agriculture industry – one day I am working for a dairy farmer, the next I move into the avocado sector,” she said.
“I also like the challenge of bringing all the different disciplines of farming together – from environmental sustainability and economics to the people.
“Helping farmers gain the experience to develop a framework that pulls out the ideas and looks at the business as a whole, including recognising opportunities and threats, means they have a clearer idea of the direction they want to head.”
RMCG Consultant Lauren Jones.
Lauren said financial planning and strategy were essential tools for achieving long-term goals in agribusiness.
“These two areas are crucial for managing a farm’s cash inflows and outflows and to be able to build wealth. Thinking of possible ways to mitigate risks is also crucial,” she said.
Her primary aim is to understand each farmer’s goals and values, before working with them to create a strategy aligned to those goals and values that builds profitability and productivity into the business.
“It’s important that the strategy belongs to the farmer so it becomes a part of the business and not just words on paper,” she said.
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This article was published on National Agriculture Day 2024.