From Legacy Moment (12/23/2011).
Please join us for future issues,
delivered via email each Friday.

A recent Wall Street Journal editorial written by Jeb Bush and titled ‘Capitalism and the Right to Rise’ expounds on the core concept of economic freedom, "the right to rise." The column goes on to explain that the right to rise doesn't need a "libertarian utopia to exist. Rather, it requires fewer, simpler and more outcome-oriented rules." The author opines that "government’s role is not to shape the marketplace but to help prepare its citizens to prosper from it."

"The right to rise" is an idea that should be promulgated. Like the right to life, liberty and the pursuit of happiness, the concept is as American as apple pie and baseball. We live in a world that is given to parceling out rights as obligations of correctness--which is quickly becoming intrusive, controlling and oppressive. As a society, we’re obsessed with trying to prevent failure and ensure a safe, if uneventful, passage through life. But at what cost?

If wealth is the accumulation of value exchanged for assuming risk, what becomes of a society that limits risk? Doesn’t it stand to reason that it also limits reward? As agripreneurs, I suggest we assert our right to rise. Safety nets inhibit growth, imply a false sense of security and promote control. The life of an entrepreneur is spent on the edge, defying the odds. Business owners live for life-defining moments. They revel in the unknown and appreciate the chaos involved in creating something bigger than self.

Wishing all the best for you and your families for Christmas and a prosperous 2012!

News and Resources for You:

Every family can rally around a set of common objectives. Yes, you can get started on building your dream farm.

The 2012 Top Producer Seminar is right around the corner! Have you registered yet?

Registration is also open for the first five Legacy Project Workshops of the 2012 season. Reserve your spot now by signing up online, or call (877) 482-7203.     

 

 

 

 

 

 

 

 

Photo courtesy of USDA NRCS

 

 

From Legacy Moment (12/16/2011).
Please join us for future issues,
delivered via email each Friday.

Leadership is the core of every business. Without it, there is no growth, no development, no business. With it, anything is possible. Success favors the agile. It shines on those who are adaptable, who demonstrate the capabilities necessary to thrive, despite an uncertain future. Succession planning for the next chapter in a vibrant business is critical to lasting value and long-term success.

What have you done so far to ensure a lasting legacy? Are your family members aware of your intentions? Do your successors have a plan for professional development, and are you part of the process? Check out the Leadership Development Action Plan on the Legacy Project website. This action plan is designed to help current leaders and next-generation leaders devise a professional development plan.  

News and Resources for You:

Have you resolved to begin the succession planning conversation in 2012?

With planning in place, these brothers have formed a successful and rewarding partnership.

The 2012 Legacy Workshop schedule has been announced! Check it out, and don’t forget to mark your calendar. 

   

 

 

 

 

 

 

From Legacy Moment (12/09/2011).
Please join us for future issues,
delivered via email each Friday.

Once a family engages in succession planning, an adviser will guide them through a defined planning process. Our Comprehensive Succession Solution has several distinct steps including the family meeting, discovery, preliminary plan, final plan and annual review.

Discovery, the second step, is the process of learning everything about you, the farm and the family using both quantifiable/material values and unquantifiable/emotional values. To supplement our conversations and meetings, we use a series of fact finders, interview guides and a document checklist to ensure accurate information.

The data we collect will help us to make recommendations that are appropriate for your specific situation. Discovery meetings are convened with the family at large, and then separately with each active family member.

At last week’s Executive Women in Agriculture conference in Chicago, a participant asked, "What documents should be shared during the discovery phase?" Attached here is the document checklist we use in all client engagements.

Have questions? We’re here to help.

News and Resources For You:

"Kevin Spafford and his team at Legacy by Design have assembled a team of Legacy Certified Advisers who put more boots on the ground to help farm families with succession plans," says Charlene Finck, Editor of Farm Journal magazine.

As one of our Legacy Project case study families, the Esthers are relieved now to have the pieces all falling into place. A smiling Ryan says, "As brothers and partners, we have the best of both worlds." Is your family next?

Don’t miss any updates -- follow the Legacy Project on Facebook!   

 

 

 

 

 

"Where do I start?" and "Who can help?" are two of the most common questions we hear from Farm Journal readers as they consider their succession planning needs. The Farm Journal Legacy Project is designed to promote succession planning in the agriculture community. We’re intent on offering farmers and agribusiness owners good information, relevant tools and valuable experiences.

One of the very best ways to learn more about succession planning is by attending a Legacy Project Workshop. In the Workshop, you’ll learn from actual case studies, hands-on exercises and other client experiences. You’ll use some of the tools available through our website and you’ll walk away with a workbook full of useful recommendations. Over the course of six hours, you’ll learn the five keys to planning success and I’ll equip you with many of the secrets to achieving your succession goals.

Please join me at one of the Legacy Project Workshops next week, as we wrap up the 2011 tour. Each event offers an excellent beginning and a first step on the road to creating a lasting legacy.

December Workshop Locations:

Learn more, or register for next week’s events:

Kansas City, MO on Monday, Dec. 5

Normal, IL on Wednesday, Dec. 7

Memphis, TN on Friday, Dec. 9

Or register by phone: (877) 482-7203