Monthly Archives: September 2019

When Do You Need a Counselor?

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No one should say that it is a sign of weakness to seek help. In fact, the opposite is true. It takes incredible strength. To disregard or overcome the pride that blocks you from reaching out is a tremendous act of will. It may take all the willpower you can summon!

AG LEGACY can help…
Check the AG LEGACY Materials tab for where to begin at AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning

When Do You Transfer Management Skills to the Next Generation?

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Questions about when:
What are everyone’s goals for the future of the operation?
What skills do the founding generation currently bring?
What new skills can the incoming generation contribute?
What skill-gaps might be filled through additional training or how might new skills be obtained?
Who is the best fit to take over management?
What roles are members of the incoming generation best suited to take over?
What roles might other family members take-on?
What is the retirement plan for the founding generation?

A little at a time:
The best strategy for transferring management information to the incoming generation is likely to be working on it a little over a period of time. After all, the management skills the founding generation is operating with was not gathered-up all at once.

Next steps:
Look to transition the next generation into positions of greater responsibility as they gain the necessary skills. Remember, we are trying to convey the ability to make sound business decisions. By following a more formal process, we hope to increase the chances of success.

#AGLEGACY.org #FarmSuccession #EstatePlanning

When to Transfer Management Skills?

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* What are the goals of other family members involved?
* Have you conducted a skill inventory for everyone with an interest?
* What are the goals of the founding generation for their retirement? How will they be met?
* Are there options to allow the incoming generation to gain management experience through smaller projects? Learn from their success/failure?
* Has the incoming generation been introduced to other mentors in the industry? Your mentors or guides?

FOR ANSWERS:
to these questions and much more see our recent newsletter and online module covering: When Do You Transfer Management Skills for the Operation? at AGLEGACY.org

#AGLEGACY.org #FarmSuccession #EstatePlanning