Many times we look at farm succession from a very holistic point of view, through a lens focused on the overall process and all the people involved. But this can make things very complicated. Sometimes we need to look at one generation at a time. What are their concerns/desires/needs in this process? In this Mind Your… Read More
Search Results for: succession planning
A recent survey suggested that 52% of family businesses don’t have a succession plans. Farms are family businesses — does that number sound about right to you? If so, there are thousands upon thousands of farms and farmers that are still dragging their feet on planning the long-term viability of their farm businesses. What will… Read More
I suspect there are more people who’d elect for a non-necessary root canal than would like to strike up a conversation with dad about when he’ll finally hand over the reins to the farm. And that’s too bad, really, because the sooner the conversations about long-term farm business planning begin, the better chance there is… Read More
“Farm succession is a journey, not an event.” That’s the key message farm succession expert Len Davies has for farm families in the final episode of Agricultural Management Institute’s (AMI) new five-part video series. In the earlier episodes, four farm families shared their personal insights on what made their farm succession plans work. In the final episode,… Read More
Many farmers consider the farm to be their retirement nest egg. Of course the farm will play a significant role in funding retirement, but relying solely on farm assets can create challenges when it comes to farm succession. “You can run into trouble if you put all your eggs in one basket,” says farm succession… Read More
By Dick Haney Whether You are Entering or Exiting a Business as General Manager, Timing is Everything. “You got to know when to hold’em, know when to fold’em, know when to walk away, know when to run.” Probably many of you have identified these words as part of a song written by Kenny Rogers called… Read More
When we think about the threat to family farms we might talk about industry consolidation, farm commodity depreciation, access to qualified workers, rising input costs or market volatility. All of these things are threats to the survival of Canadian family farms but maybe the biggest threat was not included in this above list. In my… Read More
Farm Management Canada is hosting free, one-day farm business practices assessment workshops across Canada beginning later this month. The workshop, Seeding Success: Assess, Act, Achieve!, is open to all Canadian producers and farm families and management teams. The workshop is funded through the Canadian Agricultural Human Resource Council, as part of the Sectoral Workforce Solutions… Read More
Farm business transition is not a new challenge or opportunity for the agriculture industry, but there’s been an increased level of coverage and discussion about it in mainstream media following a well-publicized report by RBC highlighting the challenges earlier this spring. At RealAgriculture and RealAgristudies, we are very interested in this topic and how it impacts… Read More
If you are a farmer or farm business owner, succession planning is a critical process that you cannot afford to overlook. Succession planning involves transferring ownership and management of your farm business to the next generation, and it is essential for ensuring the long-term viability of your business and your family’s financial future. In this… Read More
For any farmer, focusing on learning and development allows them to continuously improve in a vast amount of areas. As agriculture evolves, so do agronomic practices, risk management tools, and technological advancements. By constantly learning and expanding their skillset, farmers can identify new opportunities, increase profitability, and productivity. Developing new skills can also improve problem-solving… Read More
It was Albert Einstein that said, “When you stop learning, you start dying” In today’s world of fast-paced change and competitiveness, farmers and ranchers face immense challenges on a daily basis. All entrepreneurs face the stiff challenge of staying current, but not everyone views or tackles the skills gap the same. In February, RealAgristudies dove… Read More
The Successors is a RealAgriculture podcast series hosted by Kara Oosterhuis focusing on agriculture from the perspective of the up-and-coming generation. How do you make the call on what technology to keep up with? When is the “right time” to get involved with politics? And who do you involve in your succession planning conversations? Gerrit… Read More
One of my favourite parts about December is looking back at the year and reflecting on the past 12 months. Of course there are always personal aspects to it, but what I especially like doing is looking back at some of the great conversations I’ve experienced through my job here at RealAgriculture. I’ve compiled a… Read More
Succession planning isn’t just for farms — it’s important for every business. A few years ago, Josée Lemoine brought her business, Pivot Performance, into the Backswath Management fold. As planned, Backswath founder Terry Betker is now stepping down (but not away) from leading the business, as Lemoine will step up to lead the company as… Read More