Manage episode 290510641 series 2396549
In this week’s episode, Tracy speaks with Terry Betker about “Creating A Vision For Management,” as a critical part of the transition planning process. Terry Betker is President & CEO of Backswath Management, and he has been helping farm families with transition planning for well over 20 years now. In this week’s episode, he joins Tracy on The Impact Farming Show to share a growing concern that he has for something that doesn’t get discussed enough in transition planning, creating a vision for management. Terry shares how it can make transition planning very difficult if you do not get this one thing right. In this episode, they chat about:
- What has remained the same, and what has changed over the last 20 years when it comes to transition planning.
- Terry shares more about the concept of creating a vision for management and why this is a critically important step to getting transition planning correct.
- They spend some time discussing what a vision for management is and why it’s vital to have before farm families begin transferring ownership of assets.
- Tracy asks Terry to clarify transition planning for us, and Terry kindly breaks it down into two main categories. This part of the conversation is a real game-changer in simplifying what seems to be an overwhelmingly complex topic.
- They dive into the human condition and chat about why transition planning can be difficult for farm families. He shares some reassurance and encouragement.
Do you farm with family and have a transition on the horizon? If so, don’t miss this episode as Terry’s wisdom shared in this episode could impact the way your family manages and transitions the farm from now on.
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