Succession is a misunderstood and very challenging issue for many Australian farming families. Many of us have tried this and had a negative experience and therefore choose to lock it down, not discuss inter-generational transfer at all and get on with running the farm… rather than constructively planning for the future together.
In this podcast, we interview Managing Director of Catapult Wealth, Tony Catt. Tony is an expert on farm succession and is passionate about helping farming families proactively develop a plan for their futures together.
Tune in as we explore:
- Why this is so challenging for so many,
- What farm succession really is,
- Through good business practice and ‘governance’ we can make succession more successful for families,
- The 4 clear, written plans we really need to make this truly effective in practice,
- Why the younger generation might need to be respectful and patient in the process,
- How to include family members and bring them along for the ride,
- How frequently to be discussing this and refining your plan, AND
- How to get started.
At Farm Owners Academy, we recommend Tony and Catapult Wealth…we believe that proactive business planning can complement and form the basis for stronger succession planning and more meaningful intergenerational transitions for all.
Enjoy this interview… ideally over a cup of tea, and as a family. We hope this enables you to reflect on where you are at on this journey, agree how to move forward together, and also, who you need around you to give yourselves every chance of success.
The key is to come together and get started!
I look forward to hearing your family’s success stories in all thing’s succession.