Use time wisely, advises NWF MD

You could be the one thing holding your business back, NWF managing director David Warrington told the British Cattle Breeders Club conference in Telford.

“Are you the MD of your business?” he asked. “Think about it. If you are, what does it mean?”

“One of an MD’s biggest resources is time, but how much time do you spend on administration and finance?”

Mr Warrington explained that as MD for NWF he had to go through a complicated process to justify any capital spend to his board and demonstrate a return of 20% on capital for any investment.

“What process do you go through to make a capital spend in your business?”

“Also, how much time do you spend on production? One farmer answered me 95% – if I did this, NWF would go bust.”

He said as MD you should also spend time looking at sales, HR and people, procurement and personal fun.