Leave a Legacy
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.
A Succession Plan to Achieve Your Intentions
Dec 31, 2009
As you cast your resolutions for 2010, use the motivation of the New Year and commit to take the next step (or the first step) in the succession planning process. We all know that dreams can come true, but the inspiration must be followed by
commitment and supported by perspiration…
To thrive across the generations, a business must:
- Build upon and abide by a plan for success
- Be dynamic, motivating, and progressive in nature
- Be flexible enough to adjust to changing conditions, shifting resources, variations in consumption, regulative initiatives, and evolving capabilities
Start with a complete business plan. Your plan should include:
1. Vision and mission statements
2. Company history and guiding values
3.Analysis of strengths, weaknesses, opportunities, and competition
4. Clearly defined goals and objectives
5. Action plans to support each goal
6. Budget to project income and expenses
7. Review and evaluation process
I wish you all the best in the year ahead!
Please don’t hesitate to contact me with your questions, or concerns.
More on Goals for the New Year:
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