Items Tagged with 'transition plan'
ARTICLES
Your operation doesn’t just need someone to maintain the status quo – it needs a leader who drives progress. Now is the time to step into that role and set an example for those who will follow.
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Are you intentional with your farm business in these areas?
Unity, drive, talent, grit, asset growth and future planning are key areas to focus on to sustain the family business through the next generation.
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Estate planning ‘hurdles’ with business entities and trusts
A few common tools for both business planning and estate planning are business entities and trusts. You have likely heard that both can be useful tools in planning your estate, but there are several considerations that can cause significant challenges to your estate-planning goals if they are not addressed.
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Strategies for low-stress handling of family succession conversations
We create low-stress environments for cattle to improve experience and productivity for both the animals and their handlers. But you may not have realized that many of those same principles transfer easily to your behaviour and approach when working with members of your farm family.
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You are one of a kind, or at least one of four kinds
Exit plans are not one-size-fits-all. There are four types of owners, which are characterized by prioritizing getting the most money, continuing to work, growing the business to sell later for a higher value and ready to leave now.
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Who is responsible for what on your farm?
Use the RACI chart described in this article to delegate who is responsible, accountable, consulted and informed of projects and tasks.
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Chris-Adie Holsteins: Staying cow-oriented while looking to the future
The Flaman family stays committed to cow health and comfort while embracing innovation.
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Using common ground to write agreements you can understand
Ease potential family conflicts by finding areas where everyone can agree, whether the agreement is related to bringing in the next generation, marriage, compensation or healthcare directives.
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10 tips for navigating farm transition
Between the increasing cost of farmland and aging landowners, younger producers face many challenges when trying to acquire land. However, Steven Bohr provides solutions, including partnering with current landowners, leasing agreements, financial preparation and more.
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Why dairy farmers invest
Dairy farmers invest in their operations for numerous reasons, including – but not limited to – planning for the next generation’s involvement in the farm, staying competitive, striving for continuous improvement, maximizing labor productivity and more.
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