"Choosing among your children is the single biggest roadblock to selecting a successor. This is especially true when multiple family members are involved in the farming operation. It may be that only one child works in the business, but does not have the requisite skills to manage the operation. You may have several children, but not all of them work in the business. What about your loyal employees? What if he or she is the right arm of your business?... The emotional strings that may be tied to this decision are not simple."

"The sentiment tied to this decision may cause you to make an emotional choice rather than a business choice... You reluctance about making a succession decision may result in losing a successor who applies his ambitions to another interest."

"The best transition for you and your successor is a gradual transfer of responsibility. Concede your hesitation to let go. Use a realistic timeline for the transition process. Allow plenty of time for hands-on training. Give yourself time to pursue other ventures as you engage in a plan of gradual transition."

Excerpted from Legacy by Design: Succession Planning for Agribusiness Owners
(Marketplace Books, 2006) by Kevin Spafford