64. Global Ag Perspectives with Pete Debus

In this episode of “Your Ag Empire” podcast, host Jonathon Haralson sits down in Auckland, New Zealand, with Pete Debus, Director of PrincipleFocus based in New South Wales, Australia. Despite being an ocean away, Debus reveals Australian producers are facing the same volatility, succession struggles, and margin compression as their American counterparts. He shares his philosophy on moving from "rearview mirror" accounting to forward-looking navigation, the necessity of treating the farm like a high-value corporate entity, and why "having a crack" (taking risks) is essential for survival. In this episode, we cover:Most accountants just tell you what happened in the past (the rearview mirror). To thrive in modern agriculture, you need financial partners who act as navigators, helping you forecast, budget, and look through the windshield to change the numbers going forward.With land values skyrocketing in both Australia and the U.S., the "holy grail" for a professional farm business should be a 5% return on assets (EBIT). Achieving this requires moving beyond basic production and implementing rigorous business management standards.A farmer has two primary jobs: to build a viable, thriving business, and to successfully hand it over. If the patriarch hasn't stepped out of the way by age 70 to let the next generation drive, they likely never will—turning a succession plan into merely an estate plan.If high-quality talent walks past your gate, hire them immediately, even if you don't think you can afford it. Great people pay for themselves by bringing new energy and ideas that allow the owner to stop working in the business and start working on it.To facilitate fair succession without burdening the farm with debt, families need to start investing in off-farm assets early. Building wealth outside the operation provides a "wash" that allows non-farming siblings to be compensated while the farm stays intact.Make sure to hit follow/subscribe so you never miss an episode.Connect with Episode Sponsor FiguredWebsite: https://www.figured.com/Facebook: https://www.facebook.com/figuredappConnect with Guest Pete DebusWebsite: https://principlefocus.com.au/LinkedIn: https://www.linkedin.com/in/pete-debus-7bb92b15/Facebook: https://www.facebook.com/PrincipleFocus/Instagram: https://www.instagram.com/principlefocus/Connect with Your Ag Empire:Follow on Instagram @youragempireFollow on FacebookSubscribe on YouTubeFollow on LinkedInFollow on TikTokCheck out our websiteResources & Links:Learn more about the Elite Mastermind and how to become a memberProtect your livestock investment with Empire Ag’s risk management solutionsJoin The Dirt email subscription Book Jonathon as your next speakerMentioned in this episode:Farming is a business—and at Empire Financial Services, we treat it like one. Our team helps farmers and ranchers get clarity on their finances, streamline bookkeeping, and build long-term stability. Click below to learn more.Empire Financial Services