2016 Precision Farming Dealer Summit
January 5-6, 2016 | Indianapolis, Indiana | Indianapolis Marriott Downtown
The Only DEALER ONLY conference focusing 100% on equipping your company to run a more profitable precision farming department. Two days of unlimited learning & networking with the best minds in precision farming
The 2016 Precision Farming Dealer Summit is sponsored by:
Founding Sponsor of Dealership Minds
Tuesday, January 5, 2016
|2:30 - 3:45 p.m.||
General Session: Managing a Precision Farming Business: Lessons Learned, Tracking Employee ROI & Meeting Margins
Tim Norris, CEO, Ag Info Tech
Tim Norris, CEO, Ag Info Tech, Mount Vernon, Ohio (2015 Most Valuable Dealership) — The success of every dealership’s precision farming business starts at the top. Without a clear vision and detailed goals from management, failure is almost guaranteed. But even with defined direction, turning a profit doesn’t happen overnight — trial and error is an inevitable necessity on the pathway to sustainable growth.
Learning from early mistakes — and then adapting — is the foundational philosophy of Tim Norris, CEO of Ag Info Tech, an independent precision ag dealership in Mount Vernon, Ohio. Norris has nearly 2 decades of experience using, selling and servicing precision farming technology and formed his company in 2004, on the foresight that technology and precision service would drive the future of agriculture. Annual precision sales have grown from $1.6 million in 2010 to more than $3 million, with an emphasis on diversifying revenue streams and ultimately achieving a 50/50 split between hardware and service dollars.
To thrive in today’s increasingly competitive precision market, dealers need to be “selling partnerships, not just products,” according to Norris. This requires a systematic approach to adopting an organizational flow chart for employee responsibilities, implementing a reliable CRM system and maintaining diversity with product and service offerings.
Norris will detail the managerial methods and calculated risks that have helped his precision business thrive during the last decade, along with valuable lessons that have sharpened his business focus.
About Ag Info Tech: Formed in 2004 by Tim Norris on his family farm in Gambier, Ohio, before moving to its current office location in Mount Vernon, Ohio in 2013 ... 2015 Precision Farming Dealer Most Valuable Dealership ... Doubled employees from 5 to 10 during the last 10 years ... Billed in excess of 1,500 precision service hours in 2014 from a single location ... Initiated precision sales metric called “Precision with a Purpose” to benchmark and customize precision solutions to customers ... Developed and launched AgriVault CRM platform to track and organize data management service tools for farm customers.
“It’s very influential to be able to share ideas, specifically with my peers in a setting like this…” — Brant Bingham, Bingham Equipment, Mesa, Ariz.
5 Dealer Takeaways from this Session
1. Make ROI the focus of your sales pitch to farmers to help take price out of the equation
2. Track your billable service hours; if you can track it, you can manage it
3. Understand and plan accordingly for the seasonality of precision to maintain a steady revenue stream
4. Know what precision employees cost your business and how to maximize productivity
5. Maintain your margins; precision dealers should strive for at least 25% margin on hardware sales
Share your insights, ask questions and interact with your peers! Choose 1 of 10 concurrent roundtables for face-to-face dialog on these important precision subjects:
|4:00 - 5:30 p.m.||
Visit www.PrecisionSummit.com to Register Today!
Networking Reception and Dinner KEYNOTE PRESENTATION … “Structuring Your Precision Business for Prolonged Profitability”
Tom Krill, Founder, Precision Strategy LLC
For more than 20 years, Tom Krill, Precision Strategy LLC, has worked in precision agriculture. His diverse roles include college instructor, sales manager and R&D team member for farm equipment manufacturers and an agronomic consultant. Krill recently served as a member of the Agriculture Management Team at the Kenn-Feld Group, an 8-store dealership group in Ohio and Indiana. Working also as an independent strategist with Precision Strategy LLC, and as a consultant and instructor with Jerkins Creative Consulting, Krill’s expertise deals with the practical application of precision ag’s best management practices within agronomic production.
Having seen the good, bad and ugly of precision in farm equipment dealerships, Krill maintains that success starts with defining the roles and responsibilities of your precision employees. Maximizing the potential of precision demands structure, organization and accountability — all staples of a well-run company.
During this keynote dinner presentation, Krill will analyze where and how farm equipment dealers need to be with their precision business models to maximize profitability.
Four key considerations are establishing a clear precision vision aligned with your overall company mission, playing to your strengths and understanding that quality service is more respected than quantity, structuring your business to maximize resources and realizing that success depends on planning, but profitability requires execution.
“It’s invaluable for me to have an opportunity to network, learn from each other and ask questions that create relationships that help us to become better leaders…” — Brion Torgerson, Torgerson’s, Great Falls, Mont.