165: Keys to Running a Business First Family Farm with Jolene Brown
January 23, 2023
Today we explore the complex process of passing on the family farm to the next generation. In this episode, we'll focus on the importance of communication and making sound business decisions regarding succession planning. We'll hear from Jolene Brown as she shares practical advice on navigating the challenges and opportunities involved in this process. Whether you're a member of the next generation hoping to take over the farm or if you are the patriarch of the family trying to navigate your next step this episode is a must-listen for anyone involved in a family farm so sit back and listen, let’s go right in!
Episode 165 Highlights ✨
00:40 Who is Jolene Brown?
02:06 Why consultancy in the world of agriculture?
03:20 So here are the major things to consider if we want succeeding farm generations to flourish
05:01 Here are the things that we need to do when the times are good <<
05:52 Being part of a “business first family” …
06:46 Sadly, when emotion meets logic, emotion always wins
08:13 “Family first business” vs. “business first family”
09:48 What does it mean to forget the use of common courtesy in a business?
10:53 Do we really understand how to achieve the lowest cost with the highest return?
11:22 What to expect on Jolene’s full-day workshops to help Ag families <
12:49 Being part of a business is conditional. It's not a birthright!
14:03 Grit and perseverance combined with new perspectives are important for both sides
15:11 Marching up the ladder for old and new generations alike
16:35 Fitting everything into the cash flow
17:31 Maturity and emotional intelligence are expected of the newer generations
18:56 The process of communicating across generations …
19:27 The three biggest lies in the family business <<
20:37 A business overview always works!
21:40 What kills motivation in a family business??
22:40 Thinking is hard work, that's why most people refuse to do it – Truett Cathy
23:15 3 things you need to do when it comes to communication ß
24:15 Let’s do it right!
25:18 The importance of annual meetings in family corporations
26:06 Working on the business and the human side of the business is vitally important!
27:27 Funny but true and powerful story here as an example <<
28:22 Leaders have to have not only a strong spine but also a mastermind group to share with
29:06 Celebrate, pause, and applaud all the hard work …
31:58 Reach out to Jolene HEREß
Subscribe to her on her YouTube channel!
Or visit her website ß ß
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Meet A Better Way to Farm 💚
We’re a multi-generational family business based in Iowa working with farmers across the US. We take a hands-on approach using in-depth soil testing, making recommendations down to ounces per acre of micronutrients.
Doing this helps our clients to become more profitable. If this is something your family would be open to, then let’s talk. ➡ ➡ ☎️☎️☎️ … or call/ text us at 6 4 1 9 1 9 1 2 0 6.
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Happy listening! We’ll accompany you again to the next one!