Value for money in agriculture often requires looking behind the price tag, and analysing what worth that purchase brings - to you personally and your farming business - in the long-term.
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Lot of things fit into this category, including attending industry events.
There are so many options available for farmers to further their professional development.
Some producers take an ad hoc approach to learning, while others have this as a specific budget line.
A forward-thinking livestock producer I know is on a committee in the throes of organising a multiday conference for lamb producers.
The agenda looks amazing, and I think those producers that do attend will obtain long-term value from the information provided, and the networking opportunities with like-minded agribusiness owners.
Often, the benefits accumulate across many years, and it's only upon reflection that the true worth of learning opportunities are understood.
Another example that comes to mind is subscriptions to publications. A lot of publications that were historically free, now sit behind a paywall.
I personally choose to subscribe to a few of these, as they add value to what I do and are of interest to me.
Value is in the eye of the beholder. Everyone has the choice to spend their money where they wish.
For the service providers, the old maxim holds true, you can't be everything to everybody and not everyone is your customer.
I have seen an example of this recently where an agricultural newsletter I subscribe to is moving to a payment model. This has been flagged for months. Personally, I can't wait to sign up, as I want this publication to continue.
Finding your tribe and building a following are important ingredients in any successful venture.
In farming, some brands have been particularly good at building a loyal base of customers.
Examples that readily come to mind are the machinery brands. Most of these have been around for more than 100 years and had time to build their reputation.
Lots of farmers are what I would call "rusted on" when it comes to brand loyalty.
This not only applies to the brand, but normally includes sticking with the same supplier.
You see this a lot in the machinery and rural merchandise world.
For many farmers, that loyalty normally extends to banks and accountants.
If both relationships are working for both parties, then happy days.
It does pay to analyse these types of connections every now and then to ascertain whether they are still value for money.
I feel often people value something more if they pay for it than something at no cost.
I suspect there is a bit of psychology at play with this.
Perhaps there is a greater investment in the outcome, so more attention is paid to obtaining value.
There are so many opportunities to attend events, and purchase items of various value.
It does pay to think about why doing something is important. If the why stacks up, go for it.
