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We Owe Each Other Clear Communication

Whether you’re among the senior, middle, or younger generation, communication is your responsibility. As co-workers, family members, partners, and employees, we owe each other candid dialogue---which includes clear statements, open ears, and certain feedback.

Can I Do It Myself?

Done right, the succession planning process requires time, money, and effort. It’s not once-and-done. Succession is a series of experiences that move the operation, the family, and the owner toward an ownership transition. Along the way, you’ll gain some financial security, prepare the next generation to lead, and fortify the integrity of the operation.

Harvest

As every farmer knows, harvest doesn’t just happen. It’s the result of months of work, planning, and preparation. We all reap what we sow, and while many consumers might not fully appreciate the cultivation and care that produces a crop, a farmer certainly does.

Succession Planning Goals

Most farmers and agribusiness owners have a good idea of what they want to achieve in succession. In their minds they know the abstract who, when, and how of their transition. Unfortunately, most of those ideas are a bit fuzzy and undefined. In describing their desires, most will use general terms and ‘you know’ statements.

How Important is a "Key Person" to the Future of Your Operation?

A key person is crucial to operational success. He or she possesses skills, abilities and/or intellect that may be very difficult, if not impossible to replicate. On the farm, a key person has specific knowledge, unique talents, or distinctive expertise. He or she may allow the business to create a certain value proposition, grow the operation, or manage the team more effectively. A key person is someone you can rely on no matter what.