Passing Down the Farm 2010 – “Management Issues To Consider”
No farm succession plan can succeed without competent successors management.
That’s because the successors are the ones responsible for generating the revenues the farm will need to keep its promises to the non-farm heirs and the senior generation.
Mistakes in management can really deal a death blow to the farm’s future viability and everything and every one depending upon it.
It’s really important that you take the time – have the heart to heart discussions and make the decisions to ensure that you are prepared for the future with the best successor management possible!
Below I describe three areas – with talking points that will help you and yours have productive discussions that will get you closer to agreement around what’s important management wise to your farm and your family.
One of the most important issues – not discussed directly – is the morale of the troops.
By that I mean the extent to which people enjoy getting up in the morning and getting to it – no matter what.
Do not overlook morale as one of those free to be you and me issues. It’s a lot more than that.
Especially when exploring the management effectiveness of a family owned business.
Experience has proven many times over that morale is, in fact, one of the best barometers of the farm’s management climate.
My assumption – based on what I’ve seen 1st hand – is that morale is based on how seriously you take the information and the questions presented below.
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Recommended Reading
- Family Farm Succession Planning
- Who in The World Requires a Farm Succession Planning Consultant?
- Are You Someone Who Thinks They Need a Farm Succession Planning Expert and Precisely Why or Why Not?
- Are You Someone Who Requires a Farm Succession Planning Specialist?
- Farm Succession and Strategic Planning Group
