It’s easy to overlook the importance of succession planning for the farm. However, Having a solid succession plan ensures a smooth transfer of ownership, protects family assets, and secures the future of the farm business. It also helps to avoid conflicts between family members and clarifies the expectations and responsibilities of each generation. By creating a comprehensive and well-thought-out succession plan, family farms can ensure their longevity and preserve their heritage for future generations. So today we are going to dig deeper into strategies for succession planning. Hear how Andy Caygeon Junkin’s unique process is helping family farms skyrocket business profitability by 300% so sit back, listen and learn. Let’s go right in!

Episode 166 Highlights ✨

00:54 Who’s Andy Caygeon Junkin?

02:51 How farming has changed in the last 50 years <<

04:55 The bad stubborn vs. the good kind of stubborn

05:41 Why bother coaching on family farm succession? Caygeon’s story here ß

07:27 The passion for helping family farms grew from there

08:38 The thing with getting first the family’s absolute truth

09:37 Caygeon has to make sure that everyone goes home happy!

10:06 Truth is, simple succession planning's a disaster!

11:51 This is what makes Caygeon’s process different across all other programs <

12:38 A good farm family to a great farm family? Why not?!

13:59 The whole succession planning concept gotta be proactive so the challenge lies there

14:44 A whole different philosophy on farm management and farm succession planning

15:21 The 90-day workbook and the 9,000-hour rule <<

17:27 Succession planning doesn’t have to be a 10-year family feud

18:42 Based on a 17th-century common law??

20:19 For Caygeon, there's not a problem that cannot be solved so fix that 1st

21:27 So, how about the transfer of management?

22:44 The primary issue of succession planning is …

23:53 Here’s the best way for the next generation to learn the important skills ß

24:56 Now, we go to estate planning <

26:09 Caygeon’s guarantee for all farm families <<

26:55 Every family has a few flaws even though we don't wanna admit it

29:10 Similar concept, different approach it is!

30:05 Caygeon’s 10 questions for each performance review ß

31:31 What happens with a consistently poor performance review then?

32:26 The dark secret of succession planning <

33:51 Smarter decisions even from a tax standpoint

35:22 How about character adjustments?

37:09 Get everybody on the same page, yeah?

37:28 The father, son, and daughter story <<

39:16 Again ask, what are we in the business of doing?

40:37 On buying ground …

41:48 Sons and daughters remember, know thyself 1st

43:23 So, how do we create heaven on earth within two years with what we got?

43:52 Caygeon’s game-changing moment ß

45:56 Matthew 7:5 “Do not take the speck of dust outta your brother's eye until you've taken the plank outta your own”.

47:23 Caygeon’s payment method is quite unique too!

49:02 An invitation to Caygeon’s workshop HERE!

50:27 See Caygeon’s workshop reviews ß

51:11 Get Caygeon’s Free Book à “Bulletproof Your Farm”

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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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Missed the previous episode? We got you covered
KEYS TO RUNNING A BUSINESS FIRST FAMILY FARM WITH JOLENE BROWN, EP165