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Ten common challenges and solutions to passing on the family farm

2/10/2020

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Originally posted by Conservis (farm management software system).
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Families are complicated. Farming is complicated. Family businesses are complicated. So family farm businesses? One might say they’re the most complicated.

Tom Hubler is a well-known expert in family businesses: he's appeared on television and has been quoted in places like the Wall Street Journal and the New York Times. He lives in St. Paul, MN, and we were fortunate to have him present at our 2020 Customer Summit.


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WeMentor Mondays with Nancy Podcast Feature

10/8/2019

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Thank you to Nancy Meyer with WeMentor for inviting me to discuss family business ownership,  building a family legacy, the Top 10 Obstacles in Succession Planning, and of course, The Soul of Family Business on her "WeMentor Mondays with Nancy" podcast.

I am honored to have been featured in two episodes of WeMentor Mondays and hope our discussions help the family business owners or members  who listen.


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Forgiving Betrayal in the Family Business

9/25/2019

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​“Forgiveness can seed a new beginning in our relationship with a betrayer. Forgiveness allows us to understand that “to be wrong is nothing, unless you remember it,” as was so wisely stated by Confucius. Forgiveness helps clean the slate for you and others. Because family members love one another, forgiveness is essential so that relationships can be renewed after a betrayal.” –Tom Hubler, The Soul of the Family Business

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Last week we broached the sticky subject of betrayal within family businesses. We covered how the overlapping circles, interconnected responsibilities, and sometimes unclear expectations that come with working alongside family can make family businesses a landmine of potential betrayal, both intention and accidental. But while the best medicine for betrayal is avoiding it in the first place, today we’ll discuss how to overcome betrayal once it’s already happened, which means jumping into the process of forgiveness and Family Forgiveness Rituals™.


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An Introduction to Inside-Out Succession Planning™, Part 2

7/2/2019

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Last month, we started our discussions of Inside-Out Succession Planning™, a framework for creating plans to move the business from a current (and often original) owner. Transferring a business from a founding generation to new ownership is a hurdle at which many otherwise successful businesses fall. This is not necessarily due to incompetence on the part of either the new ownership or the founder, but rather a failure to take into account all the complexities involved in smooth, financially and emotionally healthy transfer of power and leadership.

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An Introduction to Inside-Out Succession Planning™, Part 1

5/30/2019

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One of the single hardest aspects of maintaining a successful family business is transferring it from one generation to the next. Only a third of family-run businesses will survive the transition from the first generation to the second, and while this is often attributed to the founding member’s singular vision, singular leadership style, or singular business mindset, the truth is that many of these failures are not due to a new generation unable to live up to the founder’s ideals but rather the founding generation failing to adequately create a smart succession plan.

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Setting the Ground Rules: How to Create a Family Participation Plan™

5/1/2019

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​Far too often, businesses become “family” businesses without much prior thought: “A small business needs new employees to expand, so why not hire the kids?” “We have a new role to fill, and our cousin seems good at that, so it just makes sense.” “My business is my life, so of course I’ll make it a part of the family; why wouldn’t I?” Decisions like this are often the default position, and it’s easy to see why. We know our families. We (generally) understand trust them, and even if they aren’t perfect, we’re used to dealing with their faults. Hiring outsiders can be a long, stressful, imperfect process and as the old adage goes, “a bird in the hand is worth two in the bush.”

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THE SOUL OF FAMILY BUSINESS

9/9/2016

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Inside-out Succession Planning - Part 1

9/8/2016

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Inside-out Succession Planning - Part 2

9/7/2016

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The Last Challenge of Entrepreneurship - Part 1

9/6/2016

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The Last Challenge of Entrepreneurship - Part 2

9/5/2016

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When Clients Step Down from the Business They Started - Part One

9/4/2016

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When Clients Step Down from the Business They Started - Part Two

9/3/2016

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10 Most Prevalent Obstacles To Family Business Succession Planning

9/2/2016

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Preparing for the Unthinkable: Loss of the Entrepreneur

9/1/2016

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Preparing for the Unthinkable: Loss of the Entrepreneur - Part Two

8/31/2016

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The "Green Box"

8/30/2016

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Managing Conflict in a Family-Owned Business -  Part One

8/29/2016

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Managing Conflict in a Family-Owned Business - Part Two

8/28/2016

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Forgiveness as an Intervention in Family-Owned Business: A New Beginning

8/27/2016

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Emotions in the Family Business - Part 1: Forgiveness

8/24/2016

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Emotions in the Family Business - Part 2: Compassion

8/23/2016

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Emotions in the Family Business - Part 3: Gratitude

8/22/2016

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The Business of Gratitude - Part One

8/21/2016

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The Power of Gratitude - Part Two

8/20/2016

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    Does your family business need help with succession planning, conflict resolution, management or other issues? If so, we'll arrange a one-on-one orientation meeting with you and Tom Hubler to help you explore the possibilities of working with us. If you choose, your family and business associates can also attend. Here, in a relaxed environment, you can talk about:
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