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Before he started succession planning, Kevin Olson first got pretty good at avoiding it. “The hardest part is getting started,” says the 50-year-old farmer from Plenty, Sask. “It’s easy to talk about it in generalities, but then you all kinda go back and start working...
To grow the farming business you have today, you’ve invested years of your life and the bulk of your financial assets. But sooner or later, it’s inevitable that someone other than you will own and run your farm. Perhaps you’ll transfer your operation...
Pat Dunphy didn’t take a ‘kid takes over from dad’ route into agriculture. But the PEI farmer’s unconventional career path may soon be more common. Dunphy earns a salary running a farm owned by outside investors while slowly building up his own operation on the side....
Two major desires preoccupy most business-owning entrepreneurs. The first is to be able to take a happy, comfortable, well-deserved retirement. The second is to see the business that they’ve built continue to prosper after they retire. The agricultural sector is...
1. Assuming all genetic relationships equal good working relationships. We assume that all genetic relationships equal a good working relationship. This is not true. Just because you are related to someone, doesn’t mean you should be working together. Acceptance in a...
Succession planning is a thorny issue – not because the plans can be complex, but because it raises so many questions that need to have answers. And these answers come from people whose feelings might easily be hurt. In our work here at the University of Wyoming,...
