Why is convincing your partner so difficult?

There are any number of reasons your partner might be resisting succession planning. The main thing is figure out what’s stopping them and then their reservations will be easier to address.

Here are some of the common reasons for avoiding succession planning and some ideas on how to get your partner to agree to move forward with transition planning.

They don’t understand what succession planning is.

How to help: Share some of the resources on this site like the success videos and articles in the Resources and Success Stories page. Or, since you know them best, figure out the best way to explain it for them. It’s about making sure the farm carries on after you are no longer here. It’s all about securing the legacy you’ve built. And it’s simply a plan for the whole team to follow that gives the best chance of you and the farm flourishing.

They don’t think it’s important since retirement/succession is a long way off.

How to help: Explain how the succession plan is the way you make sure the next generation of farmers can succeed in it. If you’ve got to make some adjustments to give the farm a better chance of survival, you’ll need time to make those changes. A transition plan can be the most effective tool for uniting the team around a common vision to keep the business on track with agreed upon goals and healthy for generations to come.

They already know how they want succession to work and don’t see the point of formalizing it.

How to help: Talk about how formalizing the succession plan puts everyone on the same page. Family misunderstandings about terms and arrangements can be detrimental to relationships – think about those families who bicker over assets after a family member has died. If you want your family to be strong and connected, you talk about the future as openly as possible and you write it all down so there are no surprises to anyone.

They’re happier avoiding the subject of their retirement and life after the farm.

How to help: Time stops for no one so avoiding the subject isn’t the answer. If they can’t imagine a life without working on the farm, a succession plan can help find a way for them to stay involved. If they’re worried about how they will finance their retirement, talk to them about what avoidance costs them – the longer they avoid the topic, the harder it will be to find a solution in the timeframe left to do so.

 

Because I’m asking you to.

If you still can’t budge your partner, you can strip the whole conversation down to its bare bones. “I want you to commit to succession planning because I need you to.” It’s simple. The two of you are partners and that’s one of the things with partnerships – you don’t always agree, but it’s give-and-take. There has to be a pretty compelling reason for your partner to refuse. You can also bring in a professional transition coach or advisor to help.

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Assignment

Use the questions in the Workbook to help discuss succession planning with your business partner(s) and record notes from your conversation in your Workbook.

 

I have discussed succession planning with my business partner(s) and they are committed to going through the process.