#AGLEGACY #FarmSuccession #EstatePlanning
How are you mentoring the next generation?
Mentoring is a relationship in which a more experienced or knowledgeable person guides a less experienced or less knowledgeable person through an activity or event in their life. While the mentor can be older or younger than the mentee, they must have a specific expertise which qualifies them.
This approach is similar to coaching but in coaching the goals and the plan of action are often set by the coach. In a mentoring relationship, the mentee sets the goals and formulates the plan under the guidance of the mentor. For the most part, we don’t even consider this more formal method of instruction as necessary in a family business. Often the kids grow up helping and working in the farm or ranch business. It is assumed that they will pick-up the skills necessary to help with the daily crop or livestock operations; even learn how to operate the business.
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