We Simply Want What's Best

Oct 22nd 2009, Legacy By Design

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Kevin Spafford

October 2009

Q. My husband and I attended the Plan Success Workshop this year at the ProFarmer Leading Edge Conference in Des Moines. Though we picked up some good information, you left us still searching for more answers. In the presentation you talked about goals, and said, “Everyone has a dream for what their operation can become.” You made it sound as if we should know exactly what we want for ourselves, the family, and for the future of the operation.

To be honest, we simply want what’s best for everyone, but we don’t know what that is – much less how to get there! Our two sons work with my husband on the farm, and our daughter is not active in the operation. All three of them are married, and we are blessed with seven grandkids. Can you help us create a plan that is best for our situation?

A. The answer to your primary question, ‘can I help you create a plan,’ is yes. But to do that, you must first define ‘best for everyone.’ When I speak of having a dream for what the operation can become, I’m referring to a personal ideal. Most people have a mental picture and vivid descriptions of the operation they would create if money were not an issue, resources were plentiful, and active family members functioned like a well-oiled machine. That may sound a bit too idealistic, but I truly believe the images we see in our mind are what motivate us to work hard.

I believe it all starts with a dream – a dream to do, build, and become something bigger than self. Dreams motivate action, and actions achieve results. In his book, As a Man Thinketh, James Allen teaches that “dreams are the seedlings of reality.” As such, a person’s job is to translate those dreams into actionable steps and physical results. Creating the operation of your dreams is like planning the ultimate family vacation. You wouldn’t just load up the car, lock up the house and go. You’d consider several opportunities from a world of possibilities. For the vacation, you might consider a cruise around the world, a photo safari in Africa, or an Antarctica expedition.

For the perfect operation, you might consider a vertically integrated operation – from farm field to market, you may want to involve the skills and talents of more family members, and/or you may be interested in adding a processing facility, whatever it is… Now, take a few moments and describe your perfect family operation. Let your mind wander for a while. Think about your big aspirations with no limits. What if you could create the epitome of your envy?

Looking at that picture in your mind right now, can you answer the following questions? Your response will help to focus your succession intentions.

- Who works there? And, what are their roles?

- How big is it? Is it vertically/horizontally integrated?

- How much money does it generate? Will it endow future generations with opportunity?

- How many people does it employ? And, do they work with pride and appreciation?

- What is the value of the operation? And, do the active family members realize a return in income, equity and personal satisfaction?

In planning a vacation, most people focus just as intently on the experiences they’ll find as the destinations they’ll see. In fact, they usually ponder and talk about what they like to do while they’re on a trip. The focus narrows from a world of possibilities to several options that may allow them to achieve their goals – those experiences.

Using the answers from the questions above, narrow your focus just a bit. From dreams and aspirations for the family operation, now define specific succession goals. For most families their goals for succession – their intentions, wants, and desires – center on the following three broad are:

1. Creating, maintaining and transitioning a viable operation.

2. Preparing the next generation for leadership.

3. Enhancing the family’s financial security.

If dreams are the seedlings of achievement and goals are a bit more specific, objectives are achievable steps on the road to success. Each goal should be broken down into reachable objectives. Like preparing for that vacation, what has to be accomplished in order for the family to enjoy the experiences you dream about?

Objectives should be written in a ‘smart’ format. Each objective should be specific, measurable, actionable, relevant and time bound.

Specific –Most people who suffer bouts of indecision and frustration are handicapped by a lack of vision. If you know exactly what you want, decisions are easy.

Measurable – A goal must be measureable. The objective is either met or not. If not, how close did we come? Will more effort get us there? How much harder should we try?

Actionable – Nothing happens until someone takes action. A person can wish, hope and want all day but the only path to accomplishment is action.

Relevant – The decisions you make and the actions you take will always determine success.

Time bound – It well known that, without a deadline, nothing would be ever be finished. Time serves two functions. There must be a sufficient amount to ensure a successful outcome, but not so much as to foster procrastination.

Again in As a Man Thinketh, James Allen promises us that, “The vision that you glorify in your mind, the Ideal that you enthrone in your heart - this you will build your life by, this you will become.” Our job is to set the goals, define the objectives and then take the action necessary to achieve our vision.

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