Aug 20, 2014
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Leave a Legacy

RSS By: Kevin Spafford, Legacy Project

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.

The List of Common Objectives

Feb 19, 2010

Creating, defining and then sharing a list of common objectives is one of the keys to succession planning success. The Legacy Moment eNewsletter of January 22nd discussed the broad objectives of succession planning; it suggested that you complete the Goals Clarification Worksheet and begin to define your objectives. (Sign up for weekly eNews here.)

Using the worksheet (excerpt below), write sentences (I call them word pictures) to refine, focus and then share your objectives.

For example:


MAINTAIN THE OPERATIONAL INTEGRITY
  • We will incrementally transition responsibilities to the next generation (successive manager[s])
    over the next _10_ years.
  • To increase management capabilities, we will utilize:
    ____ Formal education
    _X__ Various experiences
    _X__ Seminars/workshops/extension programs
    ____ Mentors
    _X__ Strategic alliance partners
  • Management control will be passed to: ___Therese________


From the example, we may write three very specific objectives:
  1. We’ll transition managerial control to Therese over the next 10 years.
  2. We will employ specific experiences, seminars, workshops and training programs to help her prepare for the role.
  3. We’ll enlist a number of our strategic alliance partners to assist in the development process – including our accountant and the banker.

If this seems rather simplistic, it is – that’s by design. Using simple, definitive statements which everyone can read and understand is important crea
tes a team approach, encourages buy-in and makes respective parties accountable. 
 
More on Goal Setting:
 
Don't miss 'Leave a Legacy' TV on Thursday, February 25th.
Click below for full schedule and local listings.
 
 
         

             

 

 

 

 

 

 

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