Farm Family Business

Form new habits and toss out old ones to help with management transition.

Perfecting cooperation increases the likelihood relationships and business will endure.

This practical advice can help create better connections with family business partners.

A new perspective provides a noneconomic meaning to this business term.

Ambiguous loss, where there is unresolved grief, complicates the family business and needs to be acknowledged for healing to occur.

Operations must address legacy assumptions and adjust management decisions for future success.

Don't overlook this key management position.

Verbal and nonverbal communication between family members is the most critical skill in an effective family business.

Think beyond financial investments for greater returns in the future.

Circumstances may make it beneficial to end an operation rather than struggle in the future.

Think through these steps to create a rewarding and effective transition.

Use seasonal downtime to make changes to ownership structure and management strategy.

Succession requires seeking what will be necessary for future success, while simultaneously acting in ways that reduce your own daily responsibilities.

Set examples for future generations by embracing values over assets.

Attention to three areas can help keep people on the same page and prevent deeper conflicts from tearing the fabric of family relationships.

Effective transitions require more than planning.

Some management scenarios call for saying more, not less.

Spend time on one of the variables in the operation over which you have control.

Adjustments to business plans should be made sooner rather than later.

Almost every expansion of acreage, new business enterprise or new investment has challenges and requires more management skills and knowledge. Your intuition is valuable, but so is the advice and counsel of people who have been through similar trials.