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Preparation
Review the exercises associated with the presentation.
Readings include the following:
Weness, Erlin, Transferring the Farm Series, University
of Minnesota. 1994. Available at
www.extension.umn.edu/distribution/businessmanagement/DF6317.html
Managing the Multi-Generational Family Farm, Canadian Farm
Business Management Council, 1997, Ottawa, Ontario. ISBN
0-9682142-2-3. Available at www.farmcentre.com/.
Purpose of Lecture
No one likes thinking about their mortality and some business
founders so closely identify with their ventures that they can't
imagine their business continuing without them. A well-thought
out succession plan is essential to the continuation of a business,
no matter what its size and structure. This presentation presents
key things to consider as a plan is built.
Structure of Presentation
The presentation reviews the seven steps associated with building
a plan of succession. Three exercises are provided.
Other References
Succession Planning – Passing the Mantle. Small Business
Administration, Washington DC. Available at www.sba.gov/gopher/Business-Development/Success-Series/Vol7/success.txt
The Beginning Farmer Center from Iowa Extension has many
online publications available at www.extension.iastate.edu/bfc/.
Donald Jonovic has several books available at www.familyenterprise.com/
Farm Estate and Business Planning, Neil Harl, Iowa State
University Press, 12th edition.
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