Succession Expectations or Agreements?
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. An expectation is something that either you or I have. An agreement is something you and I share. In the short run, expectations are convenient. […]
What is Sweat Worth?
Most family ranches are subsidized with free, or underpaid, family labor. Sometimes the difference between what family members get and what it would cost to hire someone else to do the work they do is made up with the promise or expectation of sweat equity. But sweat is not a recognized form of currency and […]
Coming Home to Work
If you have a family ranch, whether you know it or not, you have a family employment policy. At least your kids think you do. In the absence of a formal, written policy, kids often grow up with the expectation that regardless of their education, experience or talent, there will be a role for them […]