One of the fatal mistakes agribusinesses make is focusing their strategy around their margins.
Yes, it’s true that your business depends on the value it creates in the economy.
But some of the best strategic decisions you can make may stunt your short-term earnings. That’s okay, because they lay the foundation for much higher returns right after that.
By giving the people in your business more leeway to fail. It sounds scary, but this is how you unlock unprecedented growth in your agribusiness.
And the quickest way to achieve that is
by letting your salespeople tweak an offer based on the customer they have in front of them.
Giving up control can lead to several “bad deals”, but creating free space for new ideas is what drives the ability to iterate and achieve better results.
In today’s episode, Steve Becraft, President and CEO of Southern States, shares how to deal with setbacks, why defeatism destroys your margins more than a hurricane, and how refusing to solve interpersonal problems improves teamwork.
Show highlights include:
- The simple, yet difficult way to cultivate accountability in your business (without people pointing their finger at each other) (2:08)
- Why stunting your short-term margins may accelerate the growth of your business (8:17)
- How to prevent conflicts among your personnel by doing “nothing” (12:54)
- The “Hierarchy-Independent” accountability framework to prevent rivalries between teammates from forming (18:50)
- The 70/30 split for a healthy balance between shooting for high goals and staying realistic within your budget (27:30)
- Why you shouldn’t plan with money you don’t have (even if high returns are almost a guarantee) (29:46)
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