70% of farmers DON'T have this
30% of farmers have a succession plan in place. The rest "somewhat" do or don't at all...
Here's a checklist for success from David Marrison, Ohio State University Extension educator.
* Develop a written plan for turning over control
* Provide written job descriptions to everyone
* Determine what your successors need to know and who they need to know
* Capitalize on everyone’s strengths
* Created a timeline for when certain responsibilities be turned over
* Communicate! Be open about your wishes
What else would you add?
All I need now is 5,000 acres of prime farm ground, a line of new machinery, and the cash to farm it! At least I have a potential successor, right? LOL