Your Farm Transition
Roadmap
Dani Ranger
Get traction on your Transition
Danielle Wildfong
Question
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WHy is this important
- Money
- Time
- Relationships
- Freedom
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Danielle Wildfong
you can never start too soon
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Biggest regret:
didn’t start earlier
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biggest risk on farms:
One person in charge with all the knowledge in their head
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4th gen & 1st transition
Danielle Wildfong
Danielle Wildfong
Transition
Process
Finding Alignment
Developing Agreement
Taking Action
5 elements - Plan
1. Succession
A path to transfer knowledge, roles and responsibilities
2. Business plan
Ensure profitability current state and future position
3. risk mgmt
Identify and prepare for risks and uncertainty
4. financial plan
Create financial independence from the farm to move in mentor
5. Estate plan
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Documents, wills, up to date to order in death
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Steven
Covey
7 habits
the most valuable work
Get control of Your process
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4 steps of Pre- transition
Get control
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4 steps pre-
transition
- Commit
Get control
Advisor
- Courage
- Knowledge
- Unbias
- Options
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Common RoadBlocks
- Avoiding Communication/Conflict
- Knowing What We Want
- Being Ready
- Procrastination - not urgent!
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60% of the reasons Family buisiness fail due to lack of communications
60%
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Knowing what you want
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“If you can’t watch them make mistakes you’re not ready.”
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Letting Go is the Hardest
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“Giving control is the only way to keep control.”
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It’s easy to put on the back burner
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Common Issues
- Communication
- Valuing Sweat Equity
- Profitability + Extra Families
- Fairness to Non-Farm Siblings (NFS)
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Danielle Wildfong
are you in the Driver’s seat?
Desired state
Current State
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Reason your stuck
“But I don’t know how to start the conversation”
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Step 1 - Commit & communicate
Commit to the process.
Start with communication.
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Desired state
Family Meeting Benefit:
Come to the table
Learn New
View Opportunity
Current State
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Reason your stuck
“I’m terrified to quit.”
“I don’t think they want to farm."
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Step 2 - Discovery
Build capabilities in self reflection with curious questions.
Think of it as discovery.
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Desired state
Benefit:
1. Capabilities
2. Clarity
3. Wants and needs
Current State
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Reason your stuck
“If I bring it up I’m worried they’ll have expectations I can’t meet.”
“I don’t want conflict.”
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Step 3 - Prioritize
We will face it head on with courageous and honest conversation. Voice and priorities.
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Desired state
Benefit Courageous Convo
Gives people a voice (to be heard) and collaboration on priorities.
Current State
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Reason your stuck
“I always try to get started but lose steam or desire when we disagree.”
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Step 4 - accountability
We agree to deadlines and hold each other accountable to stay on track until this is a habit you do weekly; with that confidence you can drive it to the finish line. Accountability Partner.
Danielle Wildfong
Desired state
Confidence will carry you across the line and you will all have growth
Current State
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Danielle Wildfong
Success or failure
Remember
1
Decide
Discuss
Prioritize
Commit
Take one step
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“If you’re not in control of your farm’s future who is?”
Danielle Wildfong
Questions
Phone: 306 203-9426
Website: daniellewildfong.ca
Email: danielle@daniellewildfong.com
Danielle Wildfong
Thank You
www.daniellewildfong.ca