Overcoming challenges in farm transfer and succession planning
Dr. John Fast, President of Family Enterprise Solutions, offers insight and tips on how to overcome the challenge that comes with transfer of the farm, transfer of farm management and transfer of farm ownership.
- Combination of business and emotion makes farm transition planning complex.
- The longer conflict lingers, the less options you have for resolution.
- 80% of family business failures are due to problems that have been ignored.
- Biggest cause of conflict in family business is lack of appreciation.