Planning for the Next Generation

By Jane Eckert

My article this month is not specifically about marketing and yet it is.  As farm families, we need to market to our next generation.   Do your children really want to return to work on the farm?  Do they fully understand if they can make a career in farming?  Are their personal and financial expectations reasonable for the size and scope of your business?

If you are like most farm families that I know, these conversations don’t exist.  Or, if they do, the subject is often discussed (or not) in a very roundabout way.  Frankly, I don’t believe it’s reasonable to expect your college-educated children to return to the farm without open and frank discussions on what will they do, what will they be paid, how will their performance be measured etc.  And this conversation needs to be held long before their return, and ideally, before they even leave for a college or university education.

Coming to work in a family business should be no different than going out to work in corporate America today.  Yet, we often just expect our children to want to return to work at the farm for low pay, long hours and infrequent “praise” or recognition.  In other words, they’ll receive none of the rewards that they potentially would earn if they didn’t return home.

Recently, I returned to my college alma mater, Stetson University in DeLand, Florida, for Homecoming, and I had the privilege of having lunch with the Professor of Family Business along with nine students currently enrolled in the program.  Several years ago, the Stetson Business School determined that 42% of their students came from family businesses, and launched the Family Enterprise Program through the School of Business to provide a major or minor in Family Business. The program’s academic offerings specifically relate to this unique family and future career path.

The program was developed by Greg McCann, CPA, JD, a man who came from a family business background and has written the book, When Your Parents Sign the Paychecks.  In addition to Greg, they have three key faculty members who teach the core curriculum. 

Some of the topics in When Your Parents Sign the Paychecks include:

• Growing Up with a Family Business
• Taking Ownership of Your Life
• Understanding Relations in the Family & Business
• Overcoming Emotional Resistance
• Earning Credibility
• Developing a Life Plan

I have read the book, and while it is written to the young adult considering returning to the family business, it certainly would give a parent a better understanding of actions and questions that could make this transition easier for the family.

The principal purpose of the Stetson program is to help students understand and manage the life-long relationships of joining the family business. The students are assigned and guided to write their “life plan,” and also required to have an outside family business internship.  Both of these requirements challenge the student to fully explore their life goals, better equipping them to make the decision regarding returning to the family business or following a different career path of their choice.

The program is not just about the student but also about the family.  During the course of the four years, students must have active and meaningful discussions with their families to better understand the business, the finances and how they will fit into the future plans.

I asked the students to tell me how this program has impacted their relationship with the family, and here are some of their responses.

“Not only do the members of my family see me as more credible—but also their business partners.”

“The family business program has opened dialogue on sensitive, yet important topics which are all too often overlooked in the college student to parent dynamic.”

“The increase in family communications has made it easier to stay on the same page and align my goals with the family.”

By starting the family business path as college freshmen, these young people knowingly are better understanding the importance and dynamics of family communication to sustain and further the goals of family business success.

However, this path is not always easy as one student has shared with me:  “These classes have impacted my relationship with my family intensely. My mother is seeing me grow and becoming a young woman. My father is not ready to let go of his control, so it is a constant battle right not to fully let me grow.”

How many farm fathers and mothers are truly ready to see your young adult blossom and enable them to bring their ideas and education back to the farm? The earlier you can have frank and open conversations with your children about what it means to return to the farm and someday take over the family business, the better. 

There is no reason why you can’t start now having these discussions.  I encourage you to purchase the book When Your Parents Sign the Paychecks, and I believe you will identify with so much of what is being said. Our children do have career choices—let’s make sure they are returning to the farm for the right reasons.

For those of you planning farm conferences, I encourage you to contact Greg McCann 386-822-7425 to hear about the type of presentation that he could deliver to your audience.  Of course, you might hear a bit about the Family Enterprise program and the various programs at Stetson, but I would not be a good alum if I didn’t want you to consider this option for your college bound children.

Jane Eckert is the founder of Eckert AgriMarketing (www.eckertagrimarketing.com), a full-service marketing and public relations firm that helps farmers to sell directly to consumers, diversify operations and become tourist destinations. She is also CEO of www.RuralBounty.com, a search directory for agritourism farms and ranches in North America. Jane can be reached at 314-862-6288 or you may email her directly.