Editor's Picks
Tag: Lance Woodbury
Farm Family Business: A Step Up Instead of a Step Down – DTN Dec 30, 2021
Transitions in family agriculture businesses are often focused on the senior generation “letting go” and the younger generation “grabbing hold.” But the people who let go also need something to […]
Farm Family Business: 3 Scars to Avoid Leaving Your Successor – DTN Sep 4, 2021
Most of what we hear or read about passing the family business to the next generation is positive. Farm- or ranchland, financial assets, life lessons and family values are the […]
Farm Family Business: Younger Generations Should Return for Right Reasons – DTN Apr 27, 2021
Having been a part of family-farm and ranch transition discussions for more than 25 years, I’ve witnessed many younger generation members return to — and occasionally leave — the family […]
Farm Family Business: Shed Bad Habits to Improve Management Transition – DTN Jan 11, 2021
Understanding how habits are formed gives us the power to change our lives for the better. By implementing new behaviors and shedding bad habits, we can improve our health, our […]
Farm Family Business: Cooperation Key for Lasting Relationships, Businesses – DTN Jan 6, 2021
Family businesses are full of competing interests. Parents who are also owners must make short-term financial decisions with an eye toward multigenerational survival. Siblings who are also coworkers must balance […]
Family Business: For Family Farms, Pandemic’s Silver Lining – DTN Oct 29, 2020
In business, the concept of margin implies some remaining amount of revenue or profit after accounting for expenses and is reflected in terms like “gross margin” or “profit margin.” But […]
Farm Succession: Legacy Assumptions, Management Decisions – DTN Aug 25, 2020
Many family farms and ranches have been operating for generations, their presence a seemingly permanent marker on the geographic and relational landscape of the community. They take pride in decades […]
Succession Planning: Don’t Forget Your Bookkeeper – DTN Jul 1, 2020
Succession planning in the family business often focuses on the operational leader — the person directing outside activities or making decisions about logistics, labor, planting or harvesting. The theory is […]
Pandemic Planning On The Farm: Put Contingencies In Place – DTN Apr 14, 2020
Glen Newcomer’s accident in 2015 couldn’t have come at a more inconvenient time. It was the night before his annual customer appreciation dinner and soybean harvest was just about to […]
Farm Business: 5 Steps for a Successful Succession – DTN Jan 14, 2020
At some point in your farming or ranching career, you begin to think about who will take over the business. You realize replacing yourself involves not just carrying on the […]
