Keeping your Farm in the Family for Future Generations
An important point to remember: farm succession planning requires family members to communicate openly and honestly with each other. This strategy builds trust and mutual respect between family members so that their farming operation has the opportunity to prosper for the next generation and to insure their family farming legacy continues with success. The ultimate goal of a successful succession plan must be directed at keeping the farm in the family as well as keeping family members on their farming operation for future generations.
Mapping Out a Succession Plan to Continue your Family Farming Legacy
A farm family must create and then formalize a clear vision for the future of their family farm, especially when passing on the farm to the next farming generation in order that their legacy of faming farming continues into the future. This vision must be adopted by all family members involved and used as the starting point to begin mapping out a specific succession plan to accomplish a successful transition of farm ownership in order to preserve a farming legacy for future generations of family farmers.
Surviving Unexpected Changes to your Farm & Family
Developing and implementing a business management contingency plan to overcome unexpected changes to the organizational structure and/or management leadership to a family farm is crucial for the continued success of a farming operation. Having a business management plan is an important step in preventing potential misunderstandings between farm family members as well as helping to avoid possible family legal disputes especially if unexpected changes happen. Can a farm business survive a potential shark attack (unexpected change) and still prosper? An effective management strategy is to put yourself in the ‘shark tank’ and start addressing some difficult questions and possible situations.
Family Fence Posts Talking to
Farm family members must be motivated to adopt effective communication strategies when farming together that builds better understanding and eliminates potential family conflicts. Simple misunderstandings as well as the stress of farming can prevent family members (even in a farm marriage) from effectively communicating and working together in a family operation. Establishing effective channels of communication can create a dynamic change in personal relationships between farm family members as well as be an extremely powerful tool in achieving stronger family bonds especially during stressful times in agriculture.
Multi-Generation Family Farming: Building Stronger Relationships
Achieving stronger and more positive working relationships between farm family members is a management strategy that promotes a more successful multi-generation family farming operation. Identifying opportunities which avoid the common mistakes that often result in a farm family business failure is the secret for long term success. The family bond of working together to achieve the same goals provides a farm family with the inner strength to conquer the stress and daily pressures of the farming operation itself. Strong family relationships are characterized by a dedicated commitment to the success of their farming operation as well as fostering support and appreciation for each other.
Be Sure to
Many times in a family farming operation or a family business, the efforts and contributions of individual family members are quite easily taken for granted and are never fully recognized. Too often the hectic pace, the burdensome workload, and the numerous stresses of the farm business itself prevent family members from expressing their actual feelings and needs for each other. This keynote is an entertaining and humorous program presentation packed with laughter along with a message on the importance of family relationships that will be long remembered by everyone.