Posts Tagged ‘Farm Business’

Avoid the Mistakes Farmers Typically Make

Friday, February 18th, 2011

I smile knowingly as I read the farmer’s checklist, he wants to “avoid the mistakes farmers typically make” in succession planning. I don’t pretend to have the exhaustive list, but in eight years of coaching I have seen many scenarios that you don’t want to repeat.

What mistakes?

Poor self care. Your body is not a machine yet you ignore the things your body is telling you. Headaches and gut pains may be a signal that you are not dealing with conflict well, you continue to avoid the crucial conversations the younger generation is begging you for.

Poor marriage care. You’ve noticed that your spouse is a bit more distant lately, yet you just shrug it off and go out to the shop. She’s been showing you some house designs and real estate deals in town, but you are not the least bit interested in talking or considering moving off the home place. You’ve been here 42 years, so why move now? The big mistake here is that you really have no respect for your spouse’s needs and changing goals. Continue reading Avoid the Mistakes Farmers Typically Make »

The Daughter In-law Barrier

Thursday, June 3rd, 2010

Sometimes a short conversation lights a huge fire of controversy, and this blog may create a few sparks, so please read carefully, all the way to the end.

A farm family with a very strong-willed daughter-in-law asks their business planner how to make progress with decision making since the “in-law” seems to have an opinion about every farm business decision made. The planner advised the farm team to consider farm business and shareholder decisions as their “territory” making it clear that the spouse, ie. Daughter in law was not part of that decision group.

What would you advise for conflict resolution?

Everyone has an opinion, so let’s dig deeper and figure out what a daughter in law needs: Continue reading The Daughter In-law Barrier »

Breaking up is hard to do… firing your advisors

Monday, April 19th, 2010

In March I spent time with 70 farmers in Alberta who were seeking new ideas on how to do some tough things right, like transferring the farm to the next generation. One of their biggest challenges is finding a financial advisor, tax specialist and legal professional who they can trust. They are wondering if they are being well-served by their current team of advisors, as some folks are not getting clear answers to their questions, and sometimes don’t know what questions to ask! Continue reading Breaking up is hard to do… firing your advisors »