It can be tough to have a conversation about the future of a family farm – all those business complexities plus emotions rolled into one seemingly-big process. The hardest part is starting the conversation. After that, things get easier.
The advice most experts give is ‘Start with the punch line.’ It’s a bit like ripping a bandage off quickly. Cringe and get it over with. Your punch line might be, “Jim, we need a plan for the farm to make sure this thing survives for the next generation.” Or perhaps it’s something like, “We need to map out how this farm is going to move to our kids in the next 15 or 20 years.”
I’m ready to talk with business partner or spouse about succession planning.