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Time to Transition to the Next Generation?
Thank you, Kindra Gordon* of Western Cowman, for pointing out one of the many hazards of an incomplete succession plan. An unwillingness to transition management / control to the next generation is a recipe for sure disaster. Whenever this situation unfolds, I am reminded of a friend who spent decades looking forward to 'going home to farm.' The operation wasn't big enough to support two families, so he waited until retirement. When he left the corporate world, he moved to Iowa to farm with his 94-year-old father. After six long weeks and a lot of consternation, the 'son' packed up and left. When asked why, all he could reply is, "You know how it is. To your dad, you're always nine years old."
__________ (Continued from Leave a Legacy on AgWeb) __________
Dads, as we head into Father's Day weekend, have you...
- Defined the roles and responsibilities for managing the family operation?
- Identified successor management candidates, and assessed their business management and leadership skills?
- Worked with each candidate and created an action plan to develop necessary skills and abilities?
- Considered a mentor to work with each successor candidate as they improve their leadership skills and business acumen?
- Assigned areas of accountability to each successor candidate for personal development?
Leadership development, accountability, responsibility and business management are critical considerations in the succession planning puzzle.
* Note: Kindra Gordon is a South Dakota-based freelance agriculture writer. Her feature on succession planning will appear in an upcoming issue of Western Cowman magazine.