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That depends on how you define success.
Successful farmers know the difference between the things they can do something about and those they can’t.
And they take whatever action is required if it puts them more in control of their destiny.
They fully understand the importance of planning for the farm’s transition to the next generation.
Successful farmers also know that doing nothing is really doing something, only the results are different.
If it’s passing the farm intact to the next generation, assuring the senior generation’s security, and providing a meaningful legacy for the others – you are in the right place!
Your entire future could depend on the actions you take or do not take today.
Are you ready, willing, and able to do something right now or not?
In three decades working with farmers I have seen dozens and dozens of companies who harness conflict creatively.
And in so doing get the most out of everyone as well as optimum results overall.
They don’t waste time on what’s not working just because it was the bosses idea.
They stop what they’re doing and point out the other person’s mistake then show them how to fix it. Nothing and no one or their opinion is sacred – it’s all about getting the job done.
Sadly I have seen experts try to get them to change their behavior.
So instead of helping their clients manage the destructive conflict that exists, they are offering suggestions on how to fix what isn’t broken.
Most farmers are of the opinion that one or more of their kids will succeed them owning and managing their farm. But what it it turns out that none of them are interested in running the place?
You have two options.
#1, you can keep working forever (ok you may be able to find someone to rent it) until you simply wear out and die. At that point your widow can put it up for sale.
#2, you negotiate the sale of your place in advance, getting the best price and terms possible, so that your family’s financial future position is secured and known well in advance.
For most of those who choose Option #1 getting the maximum value for your lifetime of hard work is a pipe dream. Read the rest of this entry »
In the 21st Century successful farmers will use every possible technique and strategy to succeed. For some that means harnessing the power of the Internet.
Having a professional looking interactive web site is dead simple and virtually free. Expecting folks to find it is another matter, one requiring Internet marketing strategies. When it comes to fly fishing, if you want to be successful you have to fish where the fish are.
When it comes to Internet marketing – success is all about doing the research. Who exactly do you want to reach? What precisely must they be looking for when the find your web site?
Unless you’ve been living in a cave for the last few years, you know that business coaches are everywhere.
If you think a small business coach can help you and your family, how would you choose the right one for you?
All things being equal you’d probably choose a person you like, someone you resonate with and who seems genuine in their approach.
But all things are not equal.
How is it possible that small business coaches who look like they know the same stuff, have participated in the same business coach training, and seem to offer the same services be so far apart in other ways? Read the rest of this entry »
January 1, 2010 
That depends on how you define success.
Posted in Farm Succession Planning 
No Comments » 
A bypass trust in estate planning is a document that allows married couples two tax exemptions on the estate.
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