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.
Feb 19, 2014
From Legacy Moment.
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That might sound a bit too idealistic, but I truly believe the images we see in our mind are what motivate us to work hard. Dreams motivate action, and actions achieve results.
Take a few moments and describe your perfect family operation. Let your mind wander. Think about your big aspirations with no limits.
With that picture in mind, answer the following questions. Your responses will help to focus your intentions.
- Who works on the farm? What are their roles? Do they work with pride and appreciation?
- How big is the operation? How many acres? Is land owed and/or rented? Is livestock part of the equation? What does the macherinery lineup include:
- How much money does the operation generate? Is it enough to give future generations opportunities?
- What is the value of the operation? Do the active family members realize a return in income, equity, and personal satisfaction?
Use your answers to these questions to narrow your focus just a bit. With your big dreams in mind, define your specific succession goals.
Use the resources below to help outline your dreams for your operation.
News & Resources for You:
These seven questions can help family business owners define their succession intent.
Your thoughts and desires about the farm business are important. Talk about them.
Be sure to sign up for an upcoming Legacy Project Workshop. In March 2014, we'll be making stops in Lansing, Mich.; Columbus, Ohio; and Syracuse, N.Y.
Photo courtesy of USDA NRCS.