You can catch the video at Farm Family Coach.
One young farmer shared with me that he wanted to know how to have a family and still have a farm; that age-old issue of work-life balance is ever present.
Another fellow shared that they are having family meetings, but the key issues, what I call the “undiscussabulls,” are still being avoided. He said, “We meet, but we are still avoiding.”
Conflict avoidance needs to stop. Consider how to approach the rest of your farm team to talk out the key issues keeping you stuck.
Consider the following list of needs from young farmers and see which ones resonate on your farm. This “raw list” of advice comes from young farmers who attended the 2015 Ag Excellence Conference in Regina, Saskatchewan.
- Have a global perspective
- This is about money, not a lifestyle
- Understand your values, and your value, and communicate it
- Financial literacy
- Manage risk, but don’t be scared of it
- Work smarter, not harder
- Think outside the box
- Figure out your expertise
- It’s not easy to change jobs just because you are tired of it
- Set goals; have a plan
- Be proud of what you do
- Start a succession plan now
- Open communications with other generations
- Be active in the industry
- Don’t try to do everything on your own…hire in weak areas
- Be ok with mistakes
- Evaluate your business regularly with family and employees
- Keep family planning separate from operational planning
- Diversify income
- Reputation is your best asset
- Satisfy your customer
- Have a network of mentors
- Be a good neighbour
- Work-life balance
- Get an off-farm perspective
- Face time is important
The top five as voted by the young farmers include:
1. Plan succession and business.
The London group that I met with said that they were too busy to plan, and they felt overwhelmed. What can you do today just for one hour to start moving your succession plan into action mode?
I have created a set of binder tabs to put your planning project into smaller steps. Take out some tabs and label them:
- Action items and meetings (use a flip chart and email minutes)
- Lawyer wills and estate (make an appointment with your lawyer for updates)
- Lifestyle $ plan (find a great financial planner to confirm your income stream for the next 25 years)
- Credit and loans (document passwords, account numbers, consolidate)
- Insurance (consider critical illness insurance, long-term health care plans)
- Accounting and tax (explore family trusts, land options)
- Business plan (discover your vision for the farm size and production)
- Coach communication (keep learning great conflict and communication skills)
2. Risk management.
Start early and don’t be afraid. “What if?” Ask this question a lot, and create best and worst case scenarios. Know your numbers and ratios.
3. Farming is a business, so treat it as one.
Use systems to make your farm more efficient and professional. Quit dragging your mother in to be the conflict resolution mediator.
Hire an outside coach or facilitator to navigate the rough waters of conflict. Those farms that are businesses that serve the family, and not families that serve the business, are happier places to be.
4. Figure out your expertise.
It is ok to make mistakes. You can’t do everything, so consider to whom you need to delegate jobs to, and whom you might like to hire.
5. Communicate more often for clarity, certainty and commitment to act.
A lot of tools can be found on my website to help you in this department. Listen deeply to the other person’s perspective.
Don’t formulate your answer in your head or jump in quickly to interrupt. Let the conversation flow back and forth. Question your assumptions. Come from curiosity and say, “I am curious what you might be thinking about…” PD
Elaine Froese, CSP, CAFA, CHICoach, is the author of three books to help empower farm families, increase profit and secure legacy. Visit Elaine Freose.
