In The Know: Mitch Highett from Bullseye Ag - Episode ✌️ of ✌️

Oli Le Lievre 0:00 The Better Business series is supported by the farm business Resilience Program through the Australian Government's future drought Fund, and the New South Wales Department of Primary Industries. Across these next few weeks and episodes, we're going behind the scenes and chatting to some people who are making some serious impact in inroads across Australia. And they're not just limited to agriculture. Our aim is to uncover what's worked for them, discuss their learnings, and through their stories provide ways for you to get some of those aha moments or things that might be able to benefit you, your business and your community. For Good day, and welcome back to episode two. We're joined again by Mitch Hyatt, the managing director and founder of Bullseye AG. If you haven't listened to our first episode, dial back your podcast and listen to episode one, as this episode is actually a continuation on that first conversation. In Episode Two, we find out from Mitch, what has separated bull's eye ag from other fund management businesses, how he has approached being a facilitator of conversations within his business, and his approach to outsourcing various parts of his business. Now, this allows them to be at their best, and focus on what is important to them, he shares a heck of a lot of lessons he's learned along the way early on in his career, how the different involvement in different businesses and working for different people has actually transferred into his business today. So let's get into it. In that first episode, which we kind of talked, I guess, setting up and framing what bull's eye is. We've talked about some of the processes and systems and ways that you've gone about it from a technology systems, but also then through your people. So what would you say it is about bullseye, which separates you guys from other fund management businesses that are out there? Speaker 2 1:44 Yeah. So for us is we really play on the people part, and it will probably hear me during this say, people, people, people, because that's what a business is, it's the people inside it, they are the one that offering that service. So what separates us is that we really have this strong touch with the businesses that we work with, it's not you go to your account, and then they provide the tax operations for your business. That's where that buck stops, where you're trying to really make ourselves build into that trusted advisor, where we develop a relationship with our clients that we go, you brought us in for maybe to start off with to just be a labor unit. But as we grow, we're developing, you know, helping you develop the management structure, helping you apply for different grants and loans, you know, offering us further information about how we can improve the business with you. So what separates us is that yeah, we just really try to ingrain ourselves in that business and use the different elements that exist in Bullseye to help achieve that. So they're farm managers might not be fully across the budgeting, and the financial access of the business. But we've got a team in the business that does that for them. So they're able to go, here's what's happening on the farm, I don't know how to put that into a dinky dollar budget for the bank. But I know you do. And so they kind of talk to each other, and they do it together. So that's what's different about what we do is that we've got a lot of different services within the business and a lot of people that are very, very good at that unique part, but are able to talk to each other to give the client that aspect that they want. So we always go, any farmer or any farm owner can go out and hire a manager or an overseer for their property. And that works. And that's great. But they're only getting one head that's kind of coming up with the ideas with us, maybe one dedicated manager, but he's working with six or seven different people within the business. And they're all learning from each other about the best ways to attack different outcomes. And that's what's our big difference is that you know, you hire one, but you're getting six brains, you're getting more than that, really, but six constant communicated brains. Oli Le Lievre 3:55 And so for you, would you say that your role has really changed from the early days of where you were sleeves up getting dirty to now actually being the facilitator of those conversations to then actually go, Listen, listen, listen. And then let's do Speaker 2 4:09 Yeah, as much as I had it, like, there's days where I just wish I was still, as you said, splayed rolled up hanging off the end of some stranger's, and everything else. But yeah, the businesses grown where, if you're not aware of what's going on within the business, daily, things will start to lose track. Like I'd love a day where I could kind of get rid of the phone and go and do that. But I'm more effective and a better asset to the business if I'm actually trying to just assist everyone in doing their little bit. And yeah, that's kind of what you've got to do. I think that helicopter view is a good one. You're constantly looking about where the business is projecting and where it's going. You're looking at the opportunities in the fringes as well. And you're linking up the people that need to be doing the different bits that make that happen. So you can see that I've got a file manager that's saying something about a client about you know, they're struggling You're going into drought conditions faster than we thought, I can quickly pull that right person or that right lever to alleviate that, which takes the pressure off them. And so that's kind of the role is your one day traffic controller, one day a fireman one day, you might get time to yourself to have a cup of tea, but the rest of the time you're wearing a bunch of different hats. Oli Le Lievre 5:21 And on that I'm really interested from your perspective as the business owner and overall manager. Are there parts that you'll kind of be really protective over like in terms of aspects of your day week business that you absolutely would never skimp on or cut short and make sure that every week you have done X y&z Speaker 2 5:41 Yeah, probably there's a couple of things like you know, probably more that divide of private life versus company life, I haven't got right yet. And then certainly working on you do have to have that removal from the business every now and then. So that you can actually see what's going on in the business. If you're just adding it, you'll miss things. And like I said, I'm not great at it, and but I am working on it. So making those things that are just hard deadlines like, on this day, every day at five o'clock, I'm going to go and do a Zumba class that I've always wanted to do. Or this is the day that I pick the kids up from childcare, no meetings is going to be booked there, I'm just going to make sure anything I had to have done before that time that day is done. Otherwise, it's tomorrow's problem. I think lists becoming a big part of my life, too, is just removing them from your head, I was finding that even when I was clocking off, I was still in it, I was still thinking about what was going on. Whereas that physical list enables you to jot it down, know that it's there for you to recount the next day. And it's not going anywhere. But in terms of like things that you would never give up. Don't think that if I can see an effective way to do it, or a resourceful way to pass something on, I think I would do it. I wouldn't do it so that I would be doing less I'd be doing it so I can concentrate on something more. Oli Le Lievre 7:01 And is that something you've had to, I guess, balance for in the business going like a while I'm asking someone to do something. And it potentially could be perceived as I'm just delegating, but actually going, I know that that time will be put to somewhere, which is going to be better use for you or and it might even be for other employees in your team as well. As you start to hand things off down that chat. Yeah, look, that effective Speaker 2 7:22 delegation is a really big part of it. Again, haven't been greater. I know, I've had people tell me, I'm not great at it. But that's good feedback that it basically the fact that they're comfortable to say that is great feedback. And so what I have tried to end there sometimes where it's literally like, I've got the week from hell, I just need you to do this. I'm sorry. But here's three dot points and get into it. And there's other ones where we go back to that, you know, when you hire someone and you think you've hired them for a reason, you can really see them flesh out something and see the keenness around that part of the business and you go, okay, at the moment, I'm taking care of that this person has shown a real interest in it, what's something that I can pivot where I'll take something that they don't really enjoy doing? And give them this part that they like, can't always happen? Obviously, like, you know, you can't give the world's best tractor driver a job in accounting, or you know, it's just one of those things. But I've tried to do that where I can, and sometimes it completely surprises you what's of interest to them? Like, they came on saying, I really just want to get in and do this job. And then you say, oh, you're a passing comment. You mentioned something earlier. I've been doing that as a hobby for the last five years. I love doing that stuff. And you go well, I hate it. So you can do that. And I'll take something from you. So it's just that sharing, and it comes back to that transparency piece. I think that I try to be as open and upfront with the team as much as I can. You've got to have some personal stuff, but there's not many holes that a bad really. Oli Le Lievre 8:55 Yeah, I like that. Look. So you've got the core team. And there's services or skills that you guys outsource and just removed from your business and let a professional handle Yeah, Speaker 2 9:06 definitely certain things like that are real professional base. So accounting legals, valuations, things that, you know, there's a dime a dozen of people that do it, they do it really well. And they would do it much more cost effectively than we would as well. So if a client says, hey, you know, what do you think the property is worth, I'm thinking of selling it, we'll be the ones that go out and manage the valuation getting a sales agent out and that kind of stuff for them, but we're not going to be the ones that do that. So there's those professional services that we outsource, or so if there's things that we can do, but they're better off being done by an outsider, we'll offer that as a solution. Because we don't pretend that we can do everything, you know, we've got our our niche, we've got our groove, and for us to do something outside of that where it's either going to be it's not going to be cost effective for the client or it's going to be a poor job or it would need to take off but by someone registered, there's just no point us doing that. So as I say to the team is our role as the managers is to manage those relationships and find the best providers of that skill set so that our clients don't have to go through that, you know, there's a classic example of fencing, you know, that many fences that exist in certain areas that you want to be the one that when they say, Hey, I need a fencer, you've got the best one. And because you use them a lot, you get priority, or you get better rates, that's what you want to negotiate. That's the benefit that we add to our clients. Oli Le Lievre 10:34 I'm interested so like maybe some advice for Agribusiness owners or farm owners, managers, etc. who are maybe not hesitant, but yet potentially at a bit of a crossroads in terms of questioning about adopting new practices or outsourcing things like what would you say you've learned by going through that process of actually handing things off and going, removing certain professional tasks from your business? Speaker 2 10:56 Yeah, but biggest one would be do your due diligence, like, ask around? Like, have you used this account? And or have you used the dispenser? What was their work, like, go see the work that they've done, use your trusted people that are around you, is this guaranteed to be someone that's got advice for you on that. So doing that DVD really important, it's a scary step. But if you want to grow, I think you need to do it, you need to look at that resourcing and outsourcing. And just make sure that when you do it, what I found out what I've been guilty of, is probably not being clear enough with where their job kind of starts and ends and where mine is, and what my review process is. So sometimes you can get that real, that scope growth, where they're just gonna go over where you wanted, you end up paying for it, and you go, Look, you kind of went a bit over the top there. Or I said, I want to just a one page document, and I've got 10 here, those kinds of things, you just got to be really clear from the outset, here's what I want you to do, don't think that they understand what you're saying, because it's in your head, you have to be very, very clear and sound as if you're speaking to a five year old, this is what I want you to do, here's outcomes and spend the time on it, I was really guilty of the same, you're a professional in this area, you do it and send me the bill. Time and time again, I've gotten out that was dumb, like to spend the extra 10 minutes going, here's some doc points of how we like it to be so that you save your time in the back end. Oli Le Lievre 12:23 So that might tie over into my next question. But knowing what you know, now, if you roll back six or so years, and you're just starting again, what would be some of the learnings and things that you'd incorporate? Maybe earlier in that business journey for you? Speaker 2 12:36 Yeah, it's funny, isn't it, like Hindsight is 2020. And you wonder whether, if you didn't do some things just to survive, if you'd be in the same place that you would be. Now some of the advice that would happen to start would be hire people early, but I look back at it too, and go, there's no way my finances would have been able to support that. So I think when you're in the business is you know what the business needs, you know, the requirements that are going to take you to the next level. And it's just about kind of, you know, you've got that side of your brain at saying that's a risky move. That's really, really risky, as long as you can measure it. And you can say, look, it's a risk. But it's also a risk not to and balance that out a little bit. And that's why we touched on how I've had throughout my career has had times where I've stepped in and out of the business in terms of a full time capacity versus part time, is that I was willing to go take that leap. But I needed in just me, I needed a bit of a security blanket, and I just needed to have a known quantum that was going to come in so that if this fell apart, the whole business wasn't going to fall apart. And you can get that security from whether it be your life partner, a business partner, parents that are happy to support you to take it, anything that exists where you can go, if this falls apart, I've got something. So that would be my big thing is that don't be afraid of the risk. But make sure you go in there knowing that there is one and how to mitigate it as much as possible. I probably could have done more within kind of the first three years than I did. I think I was quite scared for the first three years. And we've then just gone boom, like Bushcamp grown. And I look back and go, I should have just done this ages ago. But like I said, we've been in a financial position or had the work if I didn't, I just don't know, I don't know the answer. But yeah, not being afraid of that risk. And every now and then is taking 10 I think I did you know there was a fair whack of a couple of years there where I was up at five in the morning. And I wouldn't not be home till 10 o'clock at night, six days a week for about two and a half years with no I was sharing my time in bullseye with my time doing other jobs that I was employed to do. And you could really say like, by the end of it, I was never I was never there. I was always just thinking about something else too tired to care. And that cost me like that, you know, that costs relationships that costs certain things. And so every now and then it's just taking that breath, knowing when you're really struggling and the Listen to those people that are around you going, you never hear you're never there, you know, fine anymore. Got that all the time still get that. Oli Le Lievre 15:08 What do you do outside now outside the day job, which helps fill your cup up or keeps you at least as effective as you can be in life and work, Speaker 2 15:15 believe it or not, I try to get to the gym, the gut says that I don't. But I definitely try to get there and carve out that bit of time, a room now that when the office time is done, the laptop kind of stays in that room and don't take it to the lounge, I leave it now I don't I don't even have my mobile phones in my bedroom. They're kept in another room. So I can't look at them. I can't I don't wake up and jump on an email, I just leave them in another room. Once I'm up and started. That's when we go. But and these are all like, I'm certainly not saying that these are things that I did from day one, like these are all very recent stuff that I've started to incorporate because I have got that bit of breathing room where I can go I can afford to not reply to that email until tomorrow morning. And I don't mean like financially afford, but I mean, just timewise just, you know, I've started to learn that just because someone emails you at nine o'clock at night doesn't mean that they need to reply at 910. It can wait. People don't expect you if they really expect you they will ring the phone, but emails and stuff like that. I used to think I had to reply instantly. And it's just not the case. Oli Le Lievre 16:15 Yeah. Now there's so much good advice in there, Mitch, I think yeah, there's heaps and heaps to take out. And I think I love these chats because I just feel like they're a mentoring session for me just asking questions and things that I'm trying to work Speaker 2 16:28 with babies, you when you get asked the questions, you actually really thinking about it, and might be a mentor for you. But it's therapy for me, Ali, Oli Le Lievre 16:35 I'll send you the bill. Now that's the end of the first part of what is our series for around better business for the farm business Resilience Program. Over the first two episodes, we've sat down with Mitch Hart to understand his journey and his business bull's eye ag and how they're supporting different businesses, but more importantly, kind of underneath the hood of their business in terms of how they make decisions, how they communicate, how they maintain focus, what are the things that they outsource versus areas that they really keep close to home to ensure that they can continue to drive their business forward. Now next week, we sit down for the first part of a conversation with an absolute Rockstar of rural Australia. Her business, borrow from the Bush has made such a huge impact to so many individuals, businesses and communities. And I can't wait to share this episode with you. So jump back next week for the first part of our two part chat with Grace Brennan from buy from the bush. This series is supported by the farm business Resilience Program through the Australian Government's future drought Fund, and the New South Wales Department of Primary Industries. And our aim is to sit down and chat with various people who have lived experience in business management through their stories. It's our aim to share their learnings, their approaches, and how they have supported developing themselves, their businesses and their teams. Transcribed by https://otter.ai