Lesson 4: Putting the plan into practice, measuring success and performance indicators
As part of our commitment to providing opportunities for free education about collaborative farming, we present the fourth and final video lesson in our suite of online learning resources and tools.
In lesson 4, you will learn about the putting the strategic plan into practice. This video is to support co-operative boards to think about and put into action a strategic plan that will enable successful operation for the first few years and beyond. The business and operational plan developed for registration is used as a basis for these actions (see Video Lesson 3). The board need to get the governance and administrative structure up and running so that the co-operative can operate effectively. The role of the board is outlined including individual roles and responsibilities. The success measures need to be measured early through considering what they will look like e.g., profit, purpose and or strategic goals. This lesson explores the options for success measures and finding the right ones for your co-op – to strategically measure for success! Through this lesson, you can construct your business purpose drawing on the template and examples provided.
Lesson 4 looks at performance indicators and the importance of establishing these early. A co-operative needs to identify key performance indicators (financial or non-financial) that show members how the co-op delivers member value and achieves its purpose.
What registrations might you need to arrange? Here are the websites to assist you as seen in the video:
- Australian Tax Office: Work out which registrations you need
- Australian Business Register: ABN entitlement
- ATO: Online lodgement system
To find out more about putting the plan into practice, measuring success and performance indicators, watch video lesson 4! We hope you enjoy this Farming Together tool as part of your learning.
The Farming Together video lessons were produced with funding from the Australian Government Department of Agriculture, Water and the Environment. The videos provide insight and education about collaborative farming, including co-operatives. Farming Together have worked with co-operatives, farming and educational experts to ensure that we have the most relevant and up-to-date information to keep you informed.