Of the many challenges in handing the management of a farm or ranch business to the next generation, perhaps the greatest hurdle is psychological. While the incoming generation’s knowledge and skills are important in the succession process, just as critical is the senior generation’s mindset, specifically the way its members conceive of their future identity […]
Spend time on one of the variables in the operation over which you have control.
Adjustments to business plans should be made sooner rather than later.
“Growth confronts entrepreneurs with new challenges for which they are ill-equipped.”
-Doug Tatum
Focus on efforts that work in combination to help create a comprehensive estate plan.
Family farms need to put more emphasis on guiding the hard-to-manage areas of their operations.
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