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October 2010 Archive for Leave a Legacy

RSS By: Kevin Spafford, Legacy Project

Kevin Spafford is Farm Journal’s succession planning expert for the Farm Journal Legacy Project.  He hosts the nationally-televised ‘Leave a Legacy’ TV, facilitates an ongoing series of workshops for farm families across the U.S., and is the author of Legacy by Design: Succession Planning for Agribusiness Owners.

Keys to Success

Oct 26, 2010

From Legacy Moment eNewsletter (10/22/2010)

Please join us for future issues, delivered via email each Friday


John Harris is a second-generation cattle producer in California’s Central Valley. The Harris Ranch brand is known throughout the West for quality beef. John is a giant in the industry, a supporter of the ag community and an agripreneur in his own right. His beef interests are integrated from breeding to processing to ready-to-eat meals. He’s well entrenched in agriculture with operations in feed, almonds, fruits, cotton and processing. John is successful by any measure.

iStock Filtered Sunlight over Stockyard"I think the key to success is to surround yourself with good people," John shared recently. "Find people you really trust, who are motivated and technically qualified. You want people with the drive and personality to work well with others. Then empower them to do whatever is required to get the job done. 

"I’ve been fortunate to surround myself with a lot of good people. I keep an open mind to new ideas and I’m not afraid to change the things that need to be changed. Flexibility, I think, is the big thing. 

"Long-term relationships and trust in the people you’re working with is the secret to success." 

News & Resources for You


I Want to Be a Rancher… It’s never too early to start asking questions.

Why Pioneer Hi-Bred and Farm Journal 
support the Legacy Project.

2010 Legacy Report… The much-discussed issue is now available for download. This issue has spurred countless conversations among family members over dinner and neighbors over coffee.

 

Have you checked out the new and more robust AgWeb and Legacy Project Web sites? They offer easier navigation and more reasons to check back every day.

 

 
 
 

 

 

 

Defining Innovation

Oct 19, 2010

From Legacy Moment eNewsletter (10/15/2010)

Please join us for future issues, delivered via email each Friday


Several months ago, I had the privilege of visiting with Paul Engler. As the founder of Cactus Feeders, the largest cattle feeder in the world, he is known for innovation, entrepreneurial spirit and a burning desire to succeed. 

I asked Paul to define innovation and clarify whether it is just a form of improvement. Paul said: "I believe it starts with improvement. But at the same time, innovation can start from an idea nobody ever thought about before." 

Cactus Feeders   Cactus, TXFor example, he explained when processing cattle you must move them in an orderly fashion to get them into the restraining chute. The old method was based on crowding your cattle. "There’s a gentleman who came up with an idea to move cattle that is more akin to the cow’s normal behavior," Engler said. "His first name was Bud, so now they’ve named this process a ‘Bud Box.’ It’s totally different. It’s a whole design of pens that uses the natural movement of the cattle to move them through the processing chutes. It’s incredible." 

All it took was one individual with a better idea to come up with a method that changed the way the entire industry deals with cattle, Engler said.

To hear more from Paul Engler, watch his interview on the July episode of "Leave a Legacy TV," available online now.

 

News & Resources for You

Did you see the October "Leave a Legacy TV" show? We catch up with the Esthers, meet Joe and KaDonna Nichols, discuss succession readiness with Ed Hoover, and visit Baxter Black.

Helpful FAQ’s about the succession planning process.

 

Have you checked out the new and more robust AgWeb and Legacy Project Web sites? They offer easier navigation and more reasons to check back every day.

 

 

 

 

 

Professional Value

Oct 12, 2010

From Legacy Moment eNewsletter (10/08/2010)

Please join us for future issues, delivered via email each Friday


Your family operation will require leaders with a variety of professional skills and abilities. Leaders of tomorrow will fill positions and do jobs that are not even defined today. How do you measure up? Do you have the skills and abilities to help your family operation grow? If you’re fair to yourself and perfectly honest regarding the depth and breadth of your own capabilities, you should determine your value proposition – what are the quantifiable benefits that you will deliver to your family business?

iStock Wheat SunsetConsider the following questions:

1. What is your career objective, and what do you want to achieve?

2. What job characteristics do you most enjoy? Do you excel in team building, business systems, managerial duties, strategic alliance relationships, etc.?

3. What are your personal, professional and business goals? How do your professional and business objectives contribute to personal satisfaction?

4. Do you have the skills, abilities and resources to achieve your professional and business goals? If not, what are you doing to improve?

Career success, professional achievement and personal satisfaction are self-fulfilling prophecies. Each person chooses their level of success and achievement based on what they are willing to do to develop their professional skills and abilities.

 

On Deck…

In the upcoming Legacy Moments we’re going to learn from some respected leaders in their chosen field. I’ve asked…  

  • Paul Engler of Cactus Feeders to share his view of innovation.
  • John Harris of Harris Ranch to discuss keys to business success.
  • Kimberly Clauss of Clauss Dairies to offer words of advice for aspiring agripreneurs.
  • Jim Ostrom to speak about the future of the dairy industry.  

 

Resources & Links for You

The Legacy Project Workbook is now available to download from the Legacy Project website.  Check out the available tools and share the information with your family.

Looking to the Future… Farm Journal Editor Charlene Finck shares an update on the Legacy Project.

 

Have you checked out the new and more robust AgWeb and Legacy Project Web sites? They offer easier navigation and more reasons to check back every day.

 

 

 

 

 

Who Can Help You?

Oct 05, 2010

From Legacy Moment eNewsletter (10/01/2010)

Please join us for future issues, delivered via email each Friday


After the inevitable question about where to start, most people want to know, "Who do you recommend to help us through the succession planning process?"

Selecting someone to act as a facilitator to help your family through the succession planning process is a key decision. In addition to certain professional qualifications and capabilities, a facilitator should be prepared to:    

- Guide a multidisciplinary team of professionals to help the family achieve their succession planning objectives.

- Facilitate family meetings, lead discussions and interviews with owners, management, other professionals and the family.

- Delegate responsibilities and follow up as appropriate to ensure that planning and implementation are completed in a reasonable time frame.

- Coordinate the process to avoid stalls, roadblocks, and train wrecks; and oversee all communication, planning and implementation.  

- Inform the family regarding all relevant financial and legal developments that may affect the plan as it is implemented---reviewing and revising the plan in accordance with current tax law, business environment, and family dynamics. 

Josh, Kevin IIUse the "Selecting an Adviser" tool from the Farm Journal Legacy Project Workbook (page 76) to interview and evaluate your top facilitator candidates. Hiring a professional is not unlike hiring a contractor to build your house; the contractor may specialize in a trade, yet also have the skills and abilities necessary to coordinate the team and ensure a design compatible with your objectives.

In succession planning, the professional you choose as facilitator may come from any one of the disciplines you’ll need to implement the plan---legal, accounting, financial, insurance or banking.

 

Resources and Links for You:

Selecting an Adviser – a brief interview guide to help you identify an adviser who can facilitate your family’s succession planning process.

Farm Journal Legacy Project Workbook – the Workbook which accompanies the Legacy Project Workshop series is now available online for free download.

Observe the process in real-time… Keep up with our Legacy Project Case Study families - on the Legacy Project site or on Facebook

 

Have you checked out the new and more robust AgWeb and Legacy Project Web sites? They offer easier navigation and more reasons to check back every day.

 

 

 

 

 

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