Legacy: the importance of family unity

While previous articles in this column have focused on succession planning, the reality is that a family business is always in transition. As the business faces its natural growing pains, family members are being born, going to university, entering and leaving the business, and inevitably wrestling with two questions:

• What do we need to hold onto and nurture about our family agribusiness that makes us special and gives us a strategic advantage?

• What do we need to change in order to adapt to the challenges we currently face and those on the horizon in an ever-evolving family and business?

Many seek to find a rule that can be applied in all circumstances. This is most clearly seen when people speak about a “business-first family” vs a “family-first family”.