How To Avoid Succession Planning Disaster

Father with son on his shoulders standing in a grass field

I’m often asked how farming families can avoid Succession Planning disaster. 

I’ve seen a few disasters in my time, and it’s unfortunate.

Often, it’s those situations where family members are no longer talking. 

This is sad to see, because there’s usually a flow on effect to other members of the family.

For example, if you’ve got a couple of brothers no longer talking, or a brother and sister no longer talking, that flows through to other siblings, parents and kids, who are no longer able to spend Christmas together.

I’m here to tell you that it doesn’t have to be this way.

So how do you avoid Succession Planning disasters?

You need to take action early.

I get it.

You get busy on the farm.

You’re busy with the day to day, checking the cattle when their calving, planting, or harvesting.

And you know what, these conversations can feel down-right hard and uncomfortable to begin with, and that’s okay.

While these are all valid reasons and are certainly important, you also need to grab the bull by the horns so to speak.

Take a step back from that busyness, and as a family, start the conversation. 

If you need some help, read this blog post on how to have better meetings.

Start thinking about the future. Where are you now, where do you wish to be in the future?

Work together to plan on how you want to approach the situation.

Much like our email at the start of the week, it’s important to acknowledge that things might change, and that’s fine, because it’s worthwhile communicating as a family.

Get an expert involved to help navigate emotions and different personalities, take a holiday away as a family so that you can relax.

The most important thing is to be on the front foot when it comes to communicating and be open to hearing other people’s views.

To read more tips on the topic, check out our instagram and facebook pages. 

Cheers,
Matt.

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