The value in building financial capabilities
Having tried share farming early in their dairying careers and learning a few things along the way, Ailsa and Les Damm currently farm with owners Alice and Ian Holloway at Gundowring in North-east Victoria’s Kiewa Valley.
Ailsa and Les feel better equipped to succeed these days after undertaking three Dairy Australia farm business management programs.
Les grew up on a nearby dairy farm and planned a career in the industry, but the couple’s first share farming ventures were curtailed by drought, deregulation and difficult conditions, leading Les to leave dairying and become a boilermaker.
However, farming remained in his blood and Les returned to the industry as herd manager for Alice and Ian. When a neighbouring farm came up for lease, Ian asked if Les and Ailsa would manage it, and they stepped up as contract managers for 10 years.
“We always had a dream to share farm or lease. As contractors we were just doing it, but we wanted to benefit from our work. The more we put in; the more we get out of it.”
In 2024, they entered the 50-50 share farming agreement, purchasing the 300-strong mixed herd. The refit of the dairy was completed in March 2025 and it’s now full steam ahead.
“Les decided he needed to learn what I do inside on the books, and I needed to learn what he does outside on the farm,” Ailsa explains.
“If something happened to one of us, the other could pay the bills and do all the book work.”
They met with Dairy Australia’s Murray Farm Engagement Lead, Jo Tanner, to look at options to improve their business capabilities.
“When we were contractors, we employed all the staff, so we were across that – but we needed to get up to speed with financials and business management,” Ailsa says.
They both completed Dairy Australia’s Farm Business Fundamentals program, which helped them get their business information and financial numbers organised.
“I’d already been doing a lot of it, but the program showed how I should be doing it, rather than how I was doing it. It gave me the confidence to do my own BAS, whereas that used to be sent to the accountant,” says Ailsa.
“That means I don’t have to stress about getting it to the accountant and it saves us money.”
The couple then wanted to dig a bit deeper so progressed to Dairy Australia’s Farm Business Analysis workshop to help them to better understand and analyse farm business performance.
“It was totally different to Fundamentals in that it was dealing with physical farm data –like how much we feed and how much things cost – rather than financial data,” Ailsa explains.
“We walked out with a wealth of knowledge that will really help us, and we will start using the DairyBase tool next financial year to make sure we keep to the budget.”
What also appealed to Ailsa and Les was that both courses were completed with weekly online Zoom meetings and homework assignments.
“If we were busy on the farm and couldn’t make it, they recorded the sessions and we were able to go back and watch them,” Ailsa says.
The course guided Ailsa on the value of data and how to use it.
“It was important for me to see the correlation between doing it out in the paddock and running it back through the books and into the program to compare year-on-year,” Ailsa says.
“Les might say those cows need three bales of hay, but this explains why they need what they need and that has a positive impact on our business.”
Inspired by their successes, Ailsa and Les are now completing Dairy Australia’s Our Farm, Our Plan program. Since 2019, Our Farm, Our Plan has supported dairy farmers set long-term goals, improve their business performance and manage risk.
“It’s helpful to get what’s in my head and what’s in Les’s head to match up, and then to put it on paper. We’ve always been on the same page, which is good – but to have it formalised and in print will be helpful,” Ailsa says.
“It means that at a moment’s notice, anyone can access our plan and know what our plans are for the farm. It will keep everyone on the same page.”
Ailsa and Les have three grown children, including a son, John, who works on the farm as a general farm hand. Once the Damms pay off the cows and machinery, they plan to lease the farm off owners Ian and Alice.
“We’ve been planning it together. This is their wind-down to retirement – and our way to get ahead,” Ailsa says.
To find out more about how Dairy Australia supports farmers to enhance their farm business management, visit Farm Business or contact your regional office.