Once a farm family has taken the important step of getting started with transition planning, it can feel like the hardest part is over. However, as the process moves into the middle stages, a new set of challenges often begins to surface.
At this point, conversations can become more difficult. This doesn’t mean that there will necessarily be conflict (although that can happen). However, the demanding nature of the topics can lead to common behavioural patterns that can cause progress to slow or stop altogether.
As mentioned in my article about the early stage of planning, understanding that these challenges are common and having a few tools to manage them can go a long way toward keeping your transition plan moving forward.
Read Also
Shoulder pain: A common issue for farmers
Shoulder pain is one of the most common joint complaints we hear about at the clinic. This makes sense as the shoulder has a lot going on.
Let’s dive in.
Challenge: Planning drift (procrastination)
If planning drift sounds familiar, that’s because it is. (This challenge was also listed in my previous article.) This is one of the few challenges that can show up at any point in the process and often does.
Even after getting started and making some early progress, it is easy for transition planning to slip back down the priority list. As conversations become more complex or uncomfortable, families may begin to delay meetings or avoid making decisions altogether.
When too much time passes between discussions, it becomes difficult to maintain momentum. Families can forget what was decided, circumstances may change and, in some cases, it can feel like starting over.
The same tools that help in the early stages still apply here. Setting timelines, scheduling meetings in advance, and working toward a clear end-date can help keep things moving. Continued accountability discussions within the family or with the help of an advisor can be a useful tactic to remain on top of things and keep momentum going.
Challenge: Avoidance
As transition planning progresses, the conversations tend to shift toward more sensitive topics. Discussions around decision-making control, finances, fairness and future roles can be difficult for some individuals.
When that happens, avoidance can begin to show up. This might look like someone not attending meetings, staying quiet during discussions or simply putting off decisions.
While it may feel easier in the moment to avoid these conversations, doing so can create larger problems down the road. Transition planning is an emotional process and avoiding the difficult parts can slow progress or bring it to a stop.
One of the most effective ways to address avoidance is to acknowledge that these conversations are not easy. Creating an environment where everyone feels comfortable sharing their thoughts can make a significant difference. If needed, bringing in a third party to help facilitate can also help.
Challenge: Fair versus equal
At some point in the planning process most families will wrestle with the idea of what is “fair” versus what is “equal.” These two concepts are often used interchangeably, but in transition planning they can lead to very different outcomes.
Equal means treating everyone the same. Fair means taking into account factors such as involvement in the farm, contributions over time and future roles within the business.
Working through this challenge requires open discussion and a willingness to look at the bigger picture. The goal is not necessarily to make everything equal, but rather to arrive at an arrangement that makes sense for the family and the business. Most importantly, getting to a solution that everyone can understand and accept is the goal.
Challenge: Differing goals and values
Another challenge that often becomes more apparent in the middle stages of planning is the difference in goals and values between generations.
These differences are natural. The retiring generation is often focused on preserving what has been built, minimizing risk and ensuring financial security for retirement. On the other hand, the succeeding generation is typically more focused on growth, expansion and building the future of the farm. An underlying source of the disparity is the different generations’ approach to managing risk.
If these differences are not clearly understood, they can lead to disagreement and stalled decision-making.
A helpful starting point is to take the time to clearly identify and share individual goals and values. Once everyone has a better understanding of where others are coming from, it becomes much easier to find common ground and make decisions.
Transition planning is not a straight line from start to finish. The middle stages can be just as challenging as getting started.
By recognizing challenges, such as planning drift, avoidance, fair versus equal, and differing goals and values, farm families can be better prepared to identify when they are happening and navigate them.
Staying aware and maintaining communication can help ensure that the work already done in the early stages continues to be built on, leading to more successful outcomes.
