James F. Evans Collection; Based on parts of an MSc (Agric) thesis by the senior author at the University of Pretoria, Farmers who are financially successful differ from their unsuccessful counterparts in management approach and decision making. Successful farmers use records for planning, they employ cash flow budgeting and analyse costs. They also avoid overtrading and are financially realistic. Unsuccessful farmers exhibit opposite traits. Successful farmers are also better decision-makers: They gather more information, use it better, re-evaluate decisions and are able to change these if necessary. Unsuccessful farmers evaluate decisions incompletely or not at all. There is not much difference in the implementation of decisions. Extensionists should concentrate in teaching farmers a frame of mind conducive to sound management (original).
