Insights and Stories on FarmLife

Aug. 15, 2012 at 10:11 am CDT

What if the son screws up and the boss says he should be fired, but boss is mom or dad? Dr. John Fast talks about the importance of clarifying the roles in a farm family business.

Aug. 15, 2012 at 9:51 am CDT

Most parents attempt to treat children equally but in a family business that approach can sow the seeds of future family disharmony and farm business failure. In business equal does not necessarily mean fair.

May. 31, 2012 at 3:44 pm CDT

Running a family business is a journey that has a destination.  The point of a succession plan is to safely get you to the destination. A good succession plan makes the difference between a good landing and a bumpy one.

May. 31, 2012 at 3:15 pm CDT

When a family business is transferred, you often receive a great deal more than just assets, especially if it’s a farm business. Typically the package comes complete with traditions and family history. While these can provide a sense of direction and pride, more often it leaves the next generation feeling […]

May. 31, 2012 at 2:31 pm CDT

The reason landmines are so dangerous is they are unseen; hidden just barely beneath the surface so as not to be seen but close enough to result in maximum destruction. Dr. John Fast warns of landmines in the family business.