Families in business together share a lot, which isn’t always easy. It requires communication, understanding and compromise. In many ways, being in business together is like sharing a car. Simple rules addressing refueling, cleaning, maintenance and repairs create guidelines that align expectations, drive accountability and fuel harmony.Read Article
Most family businesses fail or are sold to non-family owners before they reach the third generation. This is partially because family businesses often rely on trust and familial bonds to hold the business together. While the informality of family works for some, successful multi-generation family businesses have learned that as families grow and businesses increase in complexity, more formal governance structures and communications are required. Learn three easy steps to strengthening governance and communication in your family business.Read Article
During the holidays we take time to reflect on our many blessings. In family business those blessings include health, happiness, prosperity and the opportunity to work with loved ones. What happens, though, when family in business doesn’t always feel like a blessing?Read Article
Strategic planning isn’t a silver bullet, but in most family businesses it can create clarity. When people have varying views of the present and/or future, strategic planning helps create a common foundation to build upon. Why. then, do families so often hesitate?Read Article
Who would have known 18 months ago that inflation would be one of the biggest concerns in boardrooms, on Main Street, and for our farms and ranches? After years of stable prices and even possible deflation risk, the opposite end of the spectrum is now reality.Read Article
There’s no doubt that consolidation is occurring across all industries, including agriculture. In a recent webinar, a producer asked a very intriguing question, “What are your thoughts about the future success of small and midsize farms and ranches, given rising input costs and increased land values?”Read Article
In recent schools and seminars, I have often been asked, “Are there bright spots in the agriculture industry?” Let’s tackle this question from the perspective of young and beginning farmers and ranchers.
In a recent question-and-answer session, a straightforward question concerning China garnered some deep thought. Is China an opportunity or a threat to the U.S. agriculture industry?
In a recent question-and-answer session, a straightforward question concerning China garnered some deep thought. Is China an opportunity or a threat to the U.S. agriculture industry?Read Article
Digital assistants make it easy to search for information, create your grocery list or order a pizza. But are you unwittingly sacrificing your privacy for the sake of convenience? Security expert John Sileo lays it all out in this timely video.Read Article
Entrepreneurs will enhance agricultural technology to create myriad benefits – improved efficiency measures, faster responses to changing consumer preferences, consistent top-notch quality, etc. These innovators foster a distinctive mindset called the “entrepreneurial spirit.” It’s a difference maker in agriculture, and those who adopt it will break down current challenges facing the industry. So, what does it look like to adopt the entrepreneurial spirit?Read Article
Technology is everywhere. You’re likely using it in your operation. But are you positioned to make the most of innovation? Check out the first video in Northwest FCS’ three-part series exploring the drivers, investments and opportunities in current and emerging ag technologies.Read Article
Willie Sutton, the 20th-century bank robber, famously said, “I rob banks because that’s where the money is.” Today, thieves would put it differently: the easiest way to get money is to get into online bank accounts. How do they do that? By fooling others in some way.Read Article