A few weeks ago, the Get Out of Your Comfort Zone article shared some general themes and lessons we’ve observed from many forward-thinking, successful family farm businesses. This week continues with more thought-provoking examples. The roller-coaster ride of business ownership provides many chances to learn how to bounce off the lows in your business cycles, which is just as important as profits. Maximizing profits during cycle highs is just as important as minimizing losses during low cycles. |
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A small list of things that will negatively impact your family business transition are as follows. If you see a few of these in your family business, consider developing a more systematic plan for the generational transfer of your family farm business:
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