No. But there are certain things to keep in mind. Many farms inquire if there is an easy how-to book or checklist that will guarantee a successful family farm transition? No. Well, how about an easy way you can sit down in an afternoon and complete your transition plan? No....
Category: Succession Planning
Business Growth Strategy, Succession Planning
Perks and Pay can DeRail your Transition Plan
Too much of a good thing. Posted at farmprogress.com on 5/11/21 The farm owns the homes. The farms buys the owner's personal vehicles. The farm buys gas in the bulk tank and everyone fills up their personal vehicles. The farm owns the lake home. And the boat. At first it...
Succession Planning
How to start the farm transition conversation
Starting a transition plan isn't easy. It's not only hard to know where to begin, but how do you even begin the conversation? The stakes are high, and many farms don't make a successful farm transition for many reasons. Procrastinating the initial transition conversation is one of them. The younger...
Succession Planning
Values-The critical link in successful farm transition planning
John was ready to start his succession plan. He was 63 and wanted to get the process done quickly. He had a plan. During our first meeting, we discussed history, core values, and culture. John's response? What does this have to do with transferring the farm to my sons? Most...
Business Growth Strategy, Dairy Signal - PDPW, Succession Planning
Family Dynamics in Farm Management – Dairy Signal
Does working with family or transition planning seem too hard? You're not alone. Family dynamics can make it difficult, but harmony is possible with the right plan. Liz shares tips and answers questions on the PDPW Daily Signal. Listen and watch here. It aired March 2nd on PDPW's Dairy Signal...
Succession Planning
Is your family committed to the farm?
Lack of a shared vision may be one of the most significant threats to sustaining a family business through multiple generations. Roughly 83% of family farms do NOT make it to the third generation. Developing your own family's vision will greatly increase the odds in your favor. Your family farm...
Succession Planning
The Power of a Transition Plan
And the Failure when there is none. Bob, a dairy farmer college of mine, operated a successful 600 cow dairy. Like most of us, he thought he had a lot more time left in this world. Unfortunately, Bob was diagnosed with cancer on a Monday and died just two weeks...
Succession Planning
We wouldn’t be having this conversation if….
When times are tough, and everyone is under stress all the imperfections bubble to the surface. The imperfections were there all along but aren’t visible until our backs are against the wall. This is especially true of transition planning. My latest Farm Futures article covers some of the problem areas...
Business Growth Strategy, Succession Planning
Why conflict can be a good thing
Conflict is often viewed as negative but not having the right kind of conflict, often leads to bad conflict later. In an earlier article, we discussed the importance of having trust amount your leadership and owner team. Your farm team may be open and honest with each other, trusting, but do...
Succession Planning
6 hard truths about succession planning
The happiest and most successful family farms plan succession well in advance. They realize the original plan can change. But a plan, even a plan in progress, is better than no plan at all. Click here to read the full article Tim Schaefer is a management coach for farms and...
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