{"id":2011,"date":"2021-11-12T10:17:41","date_gmt":"2021-11-12T16:17:41","guid":{"rendered":"http:\/\/www.encore-consultants.net\/stagingNov2022\/?p=2011"},"modified":"2021-11-12T10:33:23","modified_gmt":"2021-11-12T16:33:23","slug":"conversations-families-must-have","status":"publish","type":"post","link":"https:\/\/www.encore-consultants.net\/stagingNov2022\/conversations-families-must-have\/","title":{"rendered":"The conversations families must have if they want to keep the farm together"},"content":{"rendered":"\n\n\t<h6>When it comes to Transition Planning, communication is the foundation.<\/h6>\n\n\t\n<p>This was the case with my friend Bob.\u00a0 He was so delighted when both his son and daughter decided to come back to the family farm.\u00a0 In addition, their spouses also chose to join the operation.<\/p>\n<p>For the first year, it was smooth sailing.\u00a0 Together the family made plans to expand the dairy operation.\u00a0 Then, in a blink of an eye, things went south.\u00a0 No one agreed on the methods, operational protocols, or roles.\u00a0 There were even disagreements about the culture and farm values.<\/p>\n<p>Bob was discouraged; he assumed they would all be in constant agreement since his children were raised on the farm.\u00a0 He did not believe there would be any conflict among family members, the same people who loved each other.<\/p>\n<p>He felt his family had reached a roadblock.<\/p>\n\t\n<p>As farms transition from one generation to the next or add more family members to the team, the family may become less unified over time.<\/p>\n<h6>Often there are more ASSUMPTIONS than actual communication around crucial topics.<\/h6>\n<p>In most cases, these topics are not discussed, and they are part of the culture.\u00a0 Yet values and culture can change if it is not often reaffirmed and communicated to all parties.<\/p>\n<h6>Why does a family tend to splinter apart?<\/h6>\n<p>Each generation beyond the founder has a slightly different set of values passed to them from other parents.\u00a0 In Bob&#8217;s case, the brother and sister were raised the same, but they each married someone different and raised their families differently.\u00a0 These differences are magnified over time and are a significant reason family farms often don&#8217;t last three or more generations.<\/p>\n\t<h6>A solution is to reaffirm core values, principles, and culture based on the following areas.\u00a0 By doing so, the odds significantly increase that your family farm legacy will continue.<\/h6>\n<ul>\n<li>Decision Making:\u00a0 Who can make what decisions, and how are those decisions communicated to the leadership team?<\/li>\n<li>Transition Planning<\/li>\n<li>Creating accountability to each other and the business<\/li>\n<li>Developing the next generation to lead<\/li>\n<li>Methods for managing conflict<\/li>\n<li>Establish compensation policies<\/li>\n<li>Designate methods for determining reinvestment and payouts<\/li>\n<li>Strategic planning process<\/li>\n<li>Who can join the family farm and under what conditions?<\/li>\n<li>How does someone exit the business?<\/li>\n<\/ul>\n\t<h6>Family governance is unique to each family farm.<\/h6>\n<p>Having conversations around these topics is hard.\u00a0 Sometimes an outside facilitator is needed to keep the process moving forward.\u00a0 There are no perfect answers to any of these topics and, what works for one farm family may not work for another.<\/p>\n<h6>The agreements you choose to develop regarding governance and their discussions are crucial to your farm&#8217;s legacy.<\/h6>\n<p>Bob and his family spent months working on redefining their values and creating policies concerning family governance topics.\u00a0 It wasn&#8217;t an easy road.\u00a0 However, the family is now working together effectively and without conflict.<\/p>\n<h3>Those who put the work in will reap the benefits.<\/h3>\n\t\t<h3><\/h3>\n\t\t\t<a href=\"https:\/\/xl4zqerp.pages.infusionsoft.net\" target=\"_self\" role=\"button\" rel=\"noopener\">\n\t\t\t\t\t\t\tJoin our email list\n\t\t\t\t\t<\/a>\n\n","protected":false},"excerpt":{"rendered":"<p>When it comes to Transition Planning, communication is the foundation. This was the case with my friend Bob.\u00a0 He was so delighted when both his&hellip;<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[23,22,1],"tags":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>The conversations families must have if they want to keep the farm together - Encore Consultants<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"http:\/\/www.encore-consultants.net\/stagingNov2022\/conversations-families-must-have\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The conversations families must have if they want to keep the farm together - Encore Consultants\" \/>\n<meta property=\"og:description\" content=\"When it comes to Transition Planning, communication is the foundation. 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