In working with clients over the years to develop programs for new supervisors/managers – there are some skills, knowledge and competencies that rise to the top of “must have’s” for someone in a management role. These are in no particular order, but all are of equal importance to be successful in a management role. Finance [...]
Read More...Passing Your Family Business to the Next Generation – Succession Planning As Penn State professor William Rothwell ominously points out in the forward to Exit Right: A Guided Tour of Succession Planning for Families in Business Together, more than 40% of the people who run the closely held operations that comprise 80% of the North [...]
Read More...Decades of statistics illustrate that most successful businesses and farmers ultimately fail. In fact only 35% of successful family businesses (and virtually all small businesses and farms are family owned) survive through the second generation, and of those only 20% survive through the third. The reasons are typically straightforward and the excuses have been the [...]
Read More...Training is not new to small businesses or to the Fortune 1000 corporations. Employees must be trained to learn specific skill sets within their job functions as well as policies and procedures. This is especially true in today’s technology driven 24/7 business world. During the last 100 years, training has been viewed by some as [...]
Read More...Ask any farm succession and planning expert and they’ll tell you. Once you’ve asked several experts you’ll have a long list of “keys” that virtually all of then claim to be the most important one. However there really is only one most important key to succession planning and it is not what you are probably [...]
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FYI: