Written by Wesley Tucker, Farm & Ranch Transition Specialist, University of Missouri Extension
I recently discussed the importance of starting farm succession planning early. If you want your family farm’s legacy to continue after you are gone, the time to start is now. But readers asked who should be included in these discussions and how to begin. Let’s dive into it.
First, recognize different groups of people require different conversations. Some discussions should only include those actively involved in the farming operation, while others may require input from the entire family. That’s why I recommend three types of family meetings.
Farm Operating Meetings
Farm operating meetings are short, regular check-ins for family members and farm employees to discuss daily or weekly goals—such as which fields should be sprayed or which cattle need worked. These meetings are informal, often held in the shop or around the breakfast table. Picture them as a plane flying just above the ground, offering a close-up view of the farm’s immediate needs.
Farm Business Meetings
On the other hand, farm business meetings take a broader perspective—lifting that plane up to 20,000 feet to get a wider view of the farm and its surroundings. Here, the focus shifts beyond day-to-day needs to now address strategic issues that help our business grow and be positioned for the future. Topics might include financial updates, marketing plans, managing roles and responsibilities, opportunities for change or identifying potential threats. These meetings should include everyone involved in the day-to-day operation of the farm, and may also include key advisors like your nutritionist, crop advisor, veterinarian or loan officer. Involving trusted professionals can help you think objectively about your farm’s future.
Unfortunately, many families only hold these meetings when they’re in crisis mode because major issues arise—a family member’s recent cancer diagnosis, the farm next door coming up for sale, or severe conflicts with family members (we all have that one sibling we’re ready to throttle). However, by making these meetings a regular habit even when there are no explosive problems to address, we can build a culture of teamwork and establish a framework for addressing issues as they come up. It’s all about making communication a priority.
In addition to having these meetings regularly, finding an appropriate meeting place is important. Avoid having farm business meetings at the kitchen table where it can be difficult to separate family roles from business needs. Instead, consider reserving a meeting room at a local cooperative, library or bank. Going off-site helps everyone stay focused and avoid farm-related distractions.
Family Council Meetings
Family council meetings serve an entirely different purpose. Here, we lift that plane all the way up to 30,000 feet for a full view of how business and family issues intersect. These meetings provide an opportunity for all family members to learn what is happening in the business and how it could affect the family. These meetings should include everyone, including off-farm heirs, spouses, in-laws, grandparents and grandkids.
Schedule a family council meeting at least once a year. These meetings are the least-used tool because many families fear potential conflicts, but they are crucial for fostering open communication within the family.
Communication isn’t always easy, especially when unresolved conflict exists. But regular family meetings and open communication are essential if you want your family business to thrive and transition from one generation to the next. Over time, what once were stressful meetings can become opportunities to celebrate what the family is accomplishing together.
For more tips on family meetings, visit https://extension.missouri.edu/publications/g515.
