MANAGEMENT

Francis Bacon (1561-1626), philosopher, scientist and author, once opined: “Some books should be tasted, some devoured, but only a few should be chewed and digested thoroughly.”

As a farm family coach, I hear the struggles of farmers who are used to being able to quickly repair or fix problems that arise daily. When these hardworking, well-intentioned folks have a farming adult child who is not a good fit for the farm, great stress lingers far too long.

Bob, the dairy’s general manager (GM), came into Cliff’s office and said, “It’s bad, Cliff. This just isn’t going to work anymore. Either he goes, or I go.”

We have all heard and said the farmer’s mantra: “Next year, we will work a little harder, and next year will be better.”

In fact, we’ve heard and said it so many times the qualities identified in that statement – hope, faith and optimism – have almost become commodities we think we can store and tap into on an unlimited basis.

In late October, the Canadian dairy industry officially changed how it calculates requirements and quota allotted to provinces in order to be more responsive to market needs and allow forecasting beyond a one-year period, thus creating a more reliable forecast model.

Last month, we talked about the tension that comes with great wealth transfer. Here is more information on that subject. Financial planner Anthony Williams describes a study by Investment News suggesting 66 percent of children will ultimately fire their parents’ financial adviser once they receive their inheritance. These children are called fleeing heirs.