"Someone is sitting in the shade today because someone planted a tree a long time ago." ~ Warren Buffet.
Planning for the long term is neglected severely by a lot of farm businesses.
Families often leave it for "the will to take care of".
Resulting in conflicts and court cases.
What are your long term plans and goals?
Do you have a succession plan in place?
Do your family and business partners know what this plan involves?
What about family not involved in the business?
Have you spoken with a succession planner?
Who will take care of things if you can't? Do they know this is expected of them?
When do you hope to retire?
What will this mean for family? For your business?
What about your children? Are they included in your plans?
What about long term land care? Animals? Environment? Water? Finances? Human resources?
For land and environment we must consider 50 and 100 and 200 years into the future.
Twenty years into the future where do you see yourself?
What legacy will you leave?
Published by Kristy Hunt