Family farming is one of the most challenging and rewarding professions there is. Farmers are more connected to nature than most people. Farmers understand the complexities of working with their land to produce food for our nation. Multi-generational farming passes on the knowledge, wisdom, and traditions to the next generation. But what can farmers learn from the next generation to innovate and grow the family business?
Each new generation are the innovators, and this is as true in farming as in any industry. The kids grow up on the farm learning the family business. Then maybe they go off to college or a career away from the farm. Someday they return, and they bring with them their own skills and perspectives that give them a unique insight into the family business. Maybe they have learned new techniques for farming. They are likely well ahead of their parents in the use of social media and the internet for communicating and learning.
So how do you blend these perspectives to enhance the growth of the family business? Continue to reinforce the traditions and knowledge you have passed to your children. But also be willing to learn from them. Listen to their ideas. If they have a particular skill set in management, marketing, or social media, let them put those skills to use for the business.
Balancing tradition and innovation is rewarding and will increase profitability for the business. Make sure that everyone involved knows what’s expected and what the goals are. Communicate effectively to ensure that everyone’s unified in achieving those goals.
AgriLegacy specializes in estate and succession planning for family farms. Contact us to learn more about passing your farming legacy to the next generation.
