Hazel Parsons emailed me last Wednesday that her husband, Stan, died earlier that day from Covid-19 related pneumonia. I sat staring at the email, absorbing the news and trying to…
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Agriculture is steeped in tradition. These traditions serve as a source of pride and continuity which help make us who we are in agriculture. However, these same traditions create a…
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As of this writing I have 68 days left running RMC before a new generation of management takes the helm. It’s been a good ride, but it's been a long…
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Transitions are hard enough. A lot of folks make them tougher by making assumptions and building expectations. We can remove unnecessary drama and angst by turning our expectations into agreements.…
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Stan Parsons wrote, “If you want to be a cowboy get a job.” A business owner’s job isn’t to put up hay, work cattle, or build fence. It is to…
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Nature has a strict culling policy. If bulls and bucks don’t breed, or if does and cows don’t wean fawns and calves, their genes aren’t passed on. Survival of the…
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How is the next generation ever supposed to step up if the current generation can’t step down or at least step aside? The short answer is they can’t. It’s one…
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There are two big pieces to the estate planning puzzle: who will run what (management succession) and who will own what (the transfer of assets). In my last ProfitTips article…
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Most people assume that the biggest estate planning fights involve “Who will own what?” It’s been my experience that, “Who will run what?” is often an even bigger issue. “Who…
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University of Wyoming Extension agent and Ranching For Profit School instructor, Dallas Mount, recently led a management succession workshop in Baggs, Wyoming. Dallas is a gifted, innovative teacher, and I…
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