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Perspective Helps

For perspective, stop and consider for a moment, the beginning of the 20th century, though simplistically appealing, was also abysmally primitive – especially compared to the advancements of today. The 1900s were an era of tuberculosis, typhoid, sanitariums, child labor, horse manure, candles, 12-hour work days, tenements, slaughter houses, and outhouses.

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.

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.

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.

"There's Only Two Kinds..."

“…the quick and the dead,” is a commonly used refrain from Tom Peters. Though the comment probably originated as a reference to gunfighters of old, the sentiment rings true when referencing business leaders today---albeit with significantly less carnage.