Succession Planning - Best Practices to Implement and Pitfalls to Avoid

Many farmer business owners spend their lifetime building and investing in their business but spend very little time thinking and planning how they will someday pass on the business or exit it. By the time they realize they need a plan for transitioning or exiting, it's simply too late. One of the most cited reasons that most business transitions fail is due to the business owner not properly planning for that transition.