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.
Jul 05, 2011
From Legacy Moment eNewsletter (07/01/2011)
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Leadership matters. Three things you should consider:
1. Family farms have different goals than more conventional businesses and publicly owned companies. Family operations are oriented to serve a broad set of objectives that include the demands of the family, the needs of the operation and the expectations of the community.
2. Family operations have a greater potential for long-term conflict. People are inherently emotional beings. The atmosphere of a family business causes some to respond inappropriately to disagreement and conflict. Conversely, the connections within a family business may inspire others to respond with more commitment and understanding.
3. Leadership succession is far more important for family farms than nonfamily farms, because what is at risk may be absolute survival. Due to the personal nature of the endeavor and the breadth of family that may be actively involved, failure can be devastating—especially when you consider that most family operations comprise an overwhelming majority of the family’s net worth.
Leadership matters. With so much at stake, don’t leave it to chance.
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Leadership begets leadership, so Lead On! (Jeanne Bernick for Top Producer, October 2009)