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.
Planning Secret #3: Overcome Obstacles
Jan 13, 2011
From Legacy Moment eNewsletter (01/07/2011)
Please join us for future issues, delivered via email each Friday
The third secret to planning success is:
Overcome Common Obstacles
At some point in the succession planning process, each family will have to face and then devise solutions to five common challenges:
- Equal versus fair
- Active versus inactive
- Financial insecurity
- The unknown
A succession plan must overcome these hurdles and provide solutions to the complex puzzles that plague family business owners. The succession planning process is designed first to distill concerns, draw them out into the light of day and then design solutions that everyone in the family can commit to.
News & Resources for You
Black Gold Farms is a testament to hard work and enthusiasm. Meet driving force Gregg Halverson on this episode of 'Leave a Legacy TV.'
Not sure how to begin? The Legacy Project Workbook is a good starting point.
Stll have questions? You can always Ask Kevin. (Don't worry... if your question is answered in print, your real name won't be used, and your situation will be modified a bit to ensure confidentiality.)