Creating an individual plan
Two useful templates to help with planning for the future:
- each person in the business can use the individual plan; and
- the strategic plan can be used to plan for the business
GROW stands for:
Goals: a list of the vision and specific achievable goals for an individual.
Reality: What is likely to be achievable taking into consideration resources and capability.
Options: Specific options that can be considered in achieving the realistic goals.
Way forward: A written pathway forward that includes resources, people, costs and time frames.
Here are some case studies that demonstrate the GROW process for a cross section of people in the dairy industry.
Case study 1: The Hallyburtons easing into retirement
Neville Hallyburton plans to work on his dairy farm as long as he remains fit and healthy, but it hasn’t stopped the family developing a succession plan for the business which includes regular father and son fishing trips. more>>
Case study 2: The Newtons’ family farm with 2 generations
Some things to consider in the planning process
- Identify and communicate openly with interested parties to determine who wants to be involved, and to what level
- Build capacity to manage and hopefully resolve disputes and manage change. This may require involvement from outside advisers (e.g. a meeting facilitator or consultant)
- Make sure individuals have the opportunity to openly express their goals for the future, ideas or opinions
- Create a healthy group culture which will enable a goal for the future of the business to be discussed and developed
- Be clear about what is expected of the individuals who are involved in the planning process and the time frames
- Remember the need to ensure that relationships are preserved as well as focusing on the business planning
The grains industry has published A Guide to Succession: Sustaining Families and Farms covering many of the above issues and capturing a wealth of practical experiences.