Episode 127 - Succession or just good business?
Often, it is my observation that succession is made to be a bigger and more complex issue than it needs to be.
Often, in my opinion, good business practice applied to family business can be the key to aligning a family to a common goal and plan; creating meaningful, regular and proactive communications; providing financial clarity and control for all parties; delivering structures and systems to support all team members in their roles; and helping ensure all expectations relating to succession are understood and clear.
Let me be clear, I am not saying succession is easy. What I am saying, is that the timely and proactive application of good business practices have proven to help farm business families be more effective, and then make succession a more palatable and constructive process.
Four weeks ago I was asked to be part of the Annual Pooginook Client Field Day, and be interviewed alongside succession specialist Isobel Knight, Proagtive on the topic of Business & Succession, by interviewer and journalist David Cussons.
Such an important topic, and I hope you find this valuable.
I commend the Pooginook Team, led by John Sutherland (Genetics & Sales Manager) and Andrew Glover (Station Manager), for both the genetic and productive performance advancements they are making for the dual-purpose merinos of Australia, AND also for the innovation they show in facilitating conversations like this one so relevant for their extensive, national client base and so many in our industry.
Based in the Riverina NSW, Pooginook Merino and Poll Stud is one of Australia’s largest and most innovative producers of advanced, highly productive, dual-purpose, mules-free merinos, backed by +80 years of breeding experience and data.
To the Pooginook Team, thank you for having Isobel & I – a compelling event for all attending. Well done on your pioneering and leadership, and a special thank you to David Cussons (Director, Cussons Media) for your approach to this interview, and to John Sutherland (Genetics & Sales Manager, FocusAg) for making this happen.
To all, be kind to each other in this process, and be open to doing the deeper work personally, so you can arrive to succession with the compassion, love and respect that each of our families deserve.
Hutch & Team