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[Podcast] Encore Consultants: 4 Steps for successful dairy farm transition planning

Progressive Dairy Published on 14 September 2021

“It’s taken care of.” How often is that the response when the next generation asks the former about the plan to transition the dairy operation? In this podcast, Tim Schaefer and Liz Griffith from Encore Consultants cover four key areas dairy farm families and businesses must address for a successful transition, not only of assets, but also of roles within the operation.

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Season 3, Episode 30

 

Here is a breakdown of the episode:

  • Before we dive into these four key areas, let’s talk about transition planning in general. What do you see as the most common challenges among dairy operations? [2:20]
  • What are the four key areas you focus on? [4:50]
  • Let’s break these down and walk through each: Define what you mean by values and vision. [5:45]
  • How do you open up these conversations? [9:10]
  • When you reference strategy, how does that play out with dairy farm transition planning? [14:50]
  • What is a reasonable expectation for the time frame for transition planning, from start to finish? [17:20]
  • What about assets? [21:15]
  • What level of preparedness for transition are you seeing among dairy farms you work with? [25:25]
  • Can you give an example of where a transition plan has really worked? [30:00]
  • How often should a family revisit their transition plan? [34:20] 
  • Who should have a seat at the table for transition planning? [37:45]
  • How often is the transition plan really “taken care of”? [42:30]
  • Based on your experience, if you could leave our listeners with one piece of advice regarding the transition plan for their dairy business, what would it be? [43:50]
  • Rapid-fire questions [45:50]

 

Contact Encore Consultants:

Tim Schaefer:

Liz Griffith:

 

Article series on transition planning:

https://www.progressivedairy.com/topics/management/keep-in-check-leadership-training-is-the-missing-ingredient

https://www.progressivedairy.com/topics/management/keep-in-check-there-are-no-set-how-to-books-for-farm-transitions

https://www.progressivedairy.com/topics/management/keep-in-check-values-the-critical-link-in-successful-farm-transition-planning

https://www.progressivedairy.com/topics/management/keep-in-check-vision-is-your-family-committed-to-the-family-farm

 

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