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Episode 128: “Transition & Vision For Management” w/Terry Betker
In this week’s episode, Tracy speaks with Terry Betker about “Creating A Vision For Management,” as a critical part of the transition planning process.
Terry Betker is President & CEO of Backswath Management, and he has been helping farm families with transition planning for well over 20 years now. In this week’s episode, he joins Tracy on The Impact Farming Show to share a growing concern that he has for something that doesn’t get discussed enough in transition planning, creating a vision for management. Terry shares how it can make transition planning very difficult if you do not get this one thing right.
In this episode, they chat about:
- What has remained the same, and what has changed over the last 20 years when it comes to transition planning.
- Terry shares more about the concept of creating a vision for management and why this is a critically important step to getting transition planning correct.
- They spend some time discussing what a vision for management is and why it’s vital to have before farm families begin transferring ownership of assets.
- Tracy asks Terry to clarify transition planning for us, and Terry kindly breaks it down into two main categories. This part of the conversation is a real game-changer in simplifying what seems to be an overwhelmingly complex topic.
- They dive into the human condition and chat about why transition planning can be difficult for farm families. He shares some reassurance and encouragement.
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* Disclaimer - As always, this information is not intended to provide business or medical advice. To ensure that your own circumstances have been properly considered and that action is taken based on the latest information available, you should obtain professional advice from qualified business or medical professionals before acting on any of the information in this post.
Thank You To Our Show Sponsor
Here at The Impact Farming Show, our goal is to bring our audience the people and ideas that will IMPACT their farming operation. We couldn't do it without the continued support of our sponsors that are committed to supporting our show and our shared vision of helping farmers succeed.
Please take a moment to check out this week's show sponsor: Bayer Crop Science
There are a million things you love about farming. But spraying for weeds in your cereal crops is probably not one of them. That’s where we come in. You can be confident our line-up of proven cereal herbicides work to manage tough to control weeds for cleaner fields acre after acre. So you can do what you do best. Get back to farming. Get back to what you love.
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Show GuestTerry Betker
President & CEO of Backswath Management Inc.
Terry is President and CEO of Backswath Management Inc., a company that provides business management expertise to farm families across Canada on strategic and business planning, transition planning, financial analysis, benchmarking and human resource management.
Terry has delivered presentations on farm business management throughout Canada, the U.S., Mexico, Chile, New Zealand, Poland, Tasmania and the Netherlands. He teaches at the University of Manitoba. Terry is a professional agrologist, a certified agricultural consultant and a certified management consultant. He is the 2015 recipient of Farm Management Canada’s Wilson Loree award, recognizing his contribution to developing and promoting new and positive change in agricultural business management practices and expertise in Canada.
The Impact Farming Show
Welcome to Impact Farming, Farm Marketer's video and audio show dedicated to helping Canadian farmers excel in the business of farming. Our goal with this show is to introduce our audience to the people and ideas that are going to make an IMPACT on their farming operation.
Show Host - Tracy Brunet
CEO of Farm Marketer
Tracy and her husband are cattle ranchers in South East, Manitoba. As host of the show, primary producer and agvocate, Tracy is passionate about helping farmers succeed in the business of farming.
In each episode, Tracy chats with today's most successful farm advisors and industry leaders to bring our audience the best and most important ideas.