A commitment to deepening client collaboration and genetic outcomes, ensuring a smooth generational handover, and leading by example with a commercial expansion has opened international opportunities for one Hereford seedstock operation.
Peter, Deanne and Logan Sykes, of Mawarra Genetics, Longford, Vic, will undertake an international study tour of processing facilities, sustainable food production, waste energy solutions and cattle herds in Denmark and present on the stud’s breeding objectives and the Australian industry at a Finnish beef industry seminar in November.
The study tour also includes northern Europe’s largest agricultural fair, Agromek.
The family received the tour for winning the Gippsland Food and Fibre Innovation and 2024 Gippsland Agribusiness of the Year awards, judged by an independent panel of judges and announced on May 31.
The awards recognised the demonstrated approach to adopting new and innovative technologies and a willingness to share knowledge and experience with others in the industry.
Mawarra Herefords was established in 1963 by Robert and Helen Sykes and during the past 60 years of successfully breeding stud cattle, the business has seen three generations of the same family dedicated to producing superior Hereford genetics in Gippsland.
A strategic expansion began in 2018 with the purchase of an additional property, the installation of a 9-span centre pivot, solar bore, laneways and cattle yards. This created a sustainable farming environment focused on key objectives including optimal health outcomes, productivity, and business longevity.
The expansion unlocked financial potential by leveraging existing equity to strengthen Mawarra’s position.
Mrs Sykes said increased capacity allowed for optimised cash flow and resource allocation.
Over the past five years bull and female sales have increased and lower variable costs have been achieved by reducing reliance on external inputs.
“Diversification and expansion provide resilience against market fluctuations and a changing climate, while facilitating future succession plans,” she said.
Mawarra has participated in the Victorian Government’s Farm Livestock Monitor Project since 2020 exceeding Gippsland averages for key metrics year on year.
Adapting to change has meant focusing on market diversification, leveraging a strong business position to mitigate risk and proactive succession planning.
Mrs Sykes pointed to personal development, strong leadership and client engagement as being crucial to success.
“Our dedicated team of advisors assist us with strategic planning and succession, marketing, land and water management, genetic acquisition, and exploring new avenues to build on the growth we’ve already achieved,” she said.
“We connect clients with processors and backgrounders, creating a data-driven ecosystem to continuously improve Mawarra branded cattle through the supply chain.”
Mrs Sykes said the business was committed to a seamless generational hand over with experienced team members transitioning to mentoring and client relationships, while mid-level members take on leadership roles.
“Succession planning for us has never been scary because Peter’s parents were forward thinking and broad minded in their business approach. They led us to making sure the transition between their custodianship and ours was fluid,” she said.
“We brought people in from the outside to guide us and talk through the options to ensure everyone, including other family members not involved in the business, was at the table in the conversation and respected in the space.
“We have done the same with our own children – the conversations have been going on for a long time using Shine at Business to facilitate.
“Fostering personal development opportunities for our team is a high priority. Positively contributing to each team member’s feeling of value and well-being translates to a culture in which we all enjoy working towards common goals.”
Third generational members at Mawarra, Logan and Taylah, have registered for the Rural Bank Herefords Australia Future Leaders and Breeders Forum in Brisbane on October 23-24 to develop a deeper understanding as future industry leaders.
The forum brings together participants between the ages of 20 and 45 years to gain valuable business skills to begin or advance their beef businesses and develop deeper levels of understanding as future industry leaders. The program has been tailored so it relates to the successful and sustainable running of both stud and commercial beef cattle enterprises.
“It is these sorts of initiatives we strongly encourage our children to participate in as the knowledge and foresight they can gain attending these events is invaluable,” Mrs Sykes said.
She has encouraged all members of the family to have mentors, with one of her personal mentors being an inspirational local dairy farmer.
“I cannot speak to this man for five minutes without him imparting some form of guidance or wisdom, and he is very supportive and understanding of us. You can’t put a price on that advice and the difference it makes to the way we run our business.
“We have always had a strategic business plan setting five- and 10-year goals which are regularly reassessed. And within that the business needs to be flexible so we can manage things that crop up like weather events or fluctuations in market conditions.
“It is the people around that you can rely on – the accountant, solicitor, bank manager, and financial planner – building up those people you can trust and who really understand the things that drive you are important.”
Deanne’s tips and advice on succession planning:
- Find a facilitator specialising in succession and strategic planning, and who can relate to all members of a multi-generational family, showing each person respect while using creative problem solving.
- It is important to follow through from the initial conversations to actioning a succession plan.
- Each generation needs to share the responsibility of growing the business, so they are invested in it.
- Have every person’s opinion respectfully listened to without any judgement.
- There is more to succession planning than the land and dollars involved as it is about each person’s sense of ownership within the business.
Peter, Logan and Deanne Sykes, Mawarra Genetics, Longford, with their Gippsland Food and Fibre Innovation and 2024 Gippsland Agribusiness of the Year awards.
