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If Your Succession Matters; Hire a Professional

Planning for succession is a serious business. The endeavor may require the assistance of legal, financial, and accounting professionals. Some cases may call for the oversight of a family business consultant or even a family psychologist. Your goals, the family’s circumstances, and business matters will dictate the type of professionals who should be involved in your planning process.

Grow it Forward

Though based on the growing prospects for ‘Wall Street’ investors in agriculture, the article Barbarians at the Farm Gate in The Economist (January 3rd, 2015) points out several opportunities and some obligations for today’s farming professionals. Among the latter is the unstated, but implied duty to plan for succession, if remaining a family in farming is your ultimate goal.

Challenging, yes. Life changing, absolutely!

Like many things, planning for succession depends on the relationship among the family and your advisors, on planning methods and thoroughness of the process, on the information provided and the recommendations made, on the complexity of the case and the attitude of the decision-makers, on plan implementation and lasting results.

2015 Goals for Growth

It is often said that anytime you are not growing, you are falling behind.  Usually this is in the context of business growth.  Let me succest it is even more true and important for personaland career growth/professionald development.  Read the artilce from the January issue of my Monhly enewsletter LearningEdge Monthly.

Farmer as Leader

The succession planning process can be difficult. It can be intrusive, and uncomfortable. But it also can be the single greatest achievement for a family business owner. It’s just one of the many challenges you’ll face in growing your operation forward. Though each person’s methods for coping with these challenges may be different, the leadership characteristics necessary to achieve success are eternal.