There are no guarantees of a perfect decision.

What we know for sure is that a high quality farm successor is someone with the personality to build on past success but courage enough to try new ideas, even if it means the former owner(s) might be a bit uncomfortable with the changes. They need to be an experienced problem-solver and energetic. And with the growing complexity around farming and agriculture, a high quality successor needs strong agricultural and farming expertise plus a strong head for business and relationships.

More specifically, the successor will need these kinds of skills and competencies:

  • Production skills

  • Operational management – supervision and direction of staff, understanding production reports, using them to make decisions, operating the farm day-to-day

  • Planning – project planning, operations planning and negotiation

  • Financial management

Assignment.png

Action Point

Take the information here into account, as well as all the decisions you’ve made about how you’ll choose a successor and get the process started. Identify the specific skills and competencies your successor will need, choose your successor and then come back here to continue your succession planning.

NextStep.png

Next Step

If you have chosen the successor(s) for the farm and are ready to move on mark this and the next section complete and continue on to Lifestyle Needs for Successors and Others. If there is no apparent successor for the farm and you don't know what to do, then mark this section complete and head to the next section below; it should help.