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What can ranch/farm families do to improve their chances of continuing as a family

What can ranch/farm families do to improve their chances of continuing as a family business for generations? Lorne Owen Ministry of Agriculture & Food British Columbia, Canada. Key Concepts to UNDERSTANDING… Understanding goal setting in the CONTEXT

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What can ranch/farm families do to improve their chances of continuing as a family

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  1. What can ranch/farm families do to improve their chances of continuing as a family business for generations? Lorne Owen Ministry of Agriculture & Food British Columbia, Canada

  2. Key Concepts to UNDERSTANDING… Understanding goal setting in the CONTEXT of the ranch/farm family business Understanding the VALUES that guide goal- setting in the ranch/farm family business Understanding the RESOURCES that enable goal-setting in the ranch/farm family business Understanding DECISION-MAKINGthat leads to successful goal-setting in the ranch/farm family business

  3. “The absence of communication is NOT an option”. Communication is the KEY to all successful family ranch/farm activity!

  4. The family business requires a team approach and if you are serious about keeping the operation going, making it a family affair, making improvements and having plans to deal with important issues, you must develop and maintain effective, respectful team interaction.

  5. Family decision making process Understand The Context Clarify Values/Goals ACT Communicate Identify and Manage Resources Decide How To Decide Sean Brotherson, NDSU Extension Family Science Specialist

  6. Ranch/Farm FamilySystem Economic Family Personal Social

  7. VALUES Values form the base upon which the family farm/ranch is built. Values are the guide- posts expressed by team members that direct their activities as a unit and with each other as a team.

  8. Techniques For Generating a Family History * Storytelling * Family Business Time-Line * Use of Genograms

  9. Management Values of Farmers & Ranchers • Dedicated Producer • Flexible Strategist • Resource Steward

  10. “What do each of us value in terms of”: * Teamwork * Money * Power * Size of Operation * Recognition * Amount of Work * Family * Recreation

  11. Personal Goals The personal goals of family members may be the single most important factor influencing the direction that the business takes.

  12. Family decision making process Understand The Context Clarify Values/Goals ACT Communicate Identify and Manage Resources Decide How To Decide

  13. Ranch/Farm Operational Resources * Basic * Human * Financial * Livestock * Wildlife

  14. Family Resources Successful businesses are built by strong teams, comprised of members with complimentary skills.

  15. Personal Resources Personality Creativity Stress Management Communication Cooperation Negotiation

  16. Four Types of Decision-making * Autocratic * Majority * Unanimous * Consensus

  17. Family decision making process Understand The Context Clarify Values/Goals ACT Communicate Identify and Manage Resources Decide How To Decide

  18. A Will to Succeed: A powerful desire to overcome obstacles is the impetus to survive and prosper in family farming/ ranching. Many farm or ranch difficulties can be linked to a lack of will. Without an internal conviction to make a best effort, any business venture takes a progressive decline. With a will comes no guarantee of success. But an absence of commitment is a near 100% indicator of eventual failure. Peter Reese, Successful Farming, June, 2002

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