Get personal with Elaine Froese, Canada's Farm Whisperer, in Farm Family Harmony, where no farm topic is taboo! Whether it's about a Daughter-In-Law feeling lef...
In this episode, my guest is Ben Law, former financial advisor turned podcaster and strategic coach for agribusinesses and the rural community - helping them grow, protect, and transition family wealth by addressing the problems and pitfalls of succession. We discuss the importance of preparing the next generation to be good custodians of wealth by cultivating early succession planning. We also explore how fear, language, and financial transparency all play a role in whether or not a farm family thrives. By the end of the episode, you’ll understand how the combination of wealth, wisdom, and wellness are key factors in the overall success of high-performance farm families. Access the full show notes for this episode at elainefroese.com. Discover more about our guest: Ben Law Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - join the waitlist for the Farm Family Harmony Membership RESOURCES - download for FREE CONTACT - take the next steps in your transition BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:00:30 Introduction to Ben Law 0:05:58 Why some farm families thrive and others don’t 0:08:03 The 3 factors of wealth, wisdom, and wellness 0:010:06 Being proactive vs reactive 0:12:41 High-performing families are built, not born 0:15:37 How Ben got clarity on his new identity 0:18:00 Using language to understand what someone truly wants 0:23:30 How to address to fear of failure 0:27:30 The telltale signs that a succession either will or won’t be successful 0:30:43 Why all generations need to be at the table (including both on and off-farm siblings) 0:35:20 It’s the unsaid things that are the problem 0:36:39 How can you add value to the farm as an off-farm family member? 0:41:09 A hopeful message to any despondent mom’s
--------
44:08
39: Non-Family Transition... A Success Story
In this episode, my guest is Robin Tunnicliffe - vegetable farmer and co-owner of Sea Bluff Farm in Saanich, Vancouver Island. Robin was one of the attendees at a workshop I held in Saanich over a decade ago, and today, we discuss her journey from not knowing where to start to now owning equity as a non-family farm member. We discuss Robin’s transition from farm apprentice to farm owner and the challenges she faced along the way, including making sure everyone was on board during all the phases of transition. We also talk about how Robin’s husband, Sasha, played an instrumental role in the success of the transition, as well as the power of written agreements. This is a must-listen for anyone interested in non-related joint venture farming. Access the full show notes for this episode at elainefroese.com. Discover more about our guest: Robin Tunnicliffe Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - join the waitlist for the Farm Family Harmony Membership RESOURCES - download for FREE CONTACT - take the next steps in your transition BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:00:30 Introduction to Robin Tunnicliffe 0:02:45The story behind Sea Bluff 0:04:59 How Robin became part of the farm as a non-family member 0:06:04 What culture means when it comes to the farm 0:07:01 The power of written agreements 0:09:56 When Robin actually secured equity in the farm - the tipping point 0:12:58 Making sure everyone was in agreement 0:14:43 Robin’s succession plan 0:16:28 The benefits of becoming incorporated 0:17:04 The Legacy of Sea Bluff 0:19:31 Finding other channels of profitability
--------
22:01
38: Practical Strategies for Staying Financially Organized on Your Farm
In this episode, I sit down for the first time on this podcast with our newest coaching teammate, Alyssa Brown. Alyssa is a fifth-generation farmer, mom, and farm partner who is passionate about working with farmers to stay financially organized on the farm. We have an in-depth discussion about the consequences of delayed decision-making and how changing that habit can help determine the long-term profitability and sustainability of your farm. Alyssa shares several practical strategies and useful tools for financial organization as well as tips for young farmers who are struggling to get founding farmers on board. By the end of the episode, you’ll have a good grasp on the next steps of your own financial journey and will have gained knowledge as to why a team of advisors (who you actually like!) will save you money in the long run. Access the full show notes for this episode at elainefroese.com. Discover more about our guest: Alyssa Brown Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - Join the waitlist for the Membership RESOURCES - download for FREE CONTACT - take the next steps in your transition BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:00:30 Introduction to Alyssa Brown 0:03:21 The first step to getting financially organized 0:04:58 Separating the family account from the farm account 0:05:30 Embracing new technology for accounting 0:08:28 Accounting software options 0:09:08 Tracking non-cash transactions 0:13:09 Variable costs vs fixed costs 0:16:19 Organization tip for tracking fixed vs variable costs 0:18:02 A useful piece of info to include on your spreadsheet 0:19:21 Financial transparency on the farm 0:23:18 Where to gain better financial literacy 0:25:39 Having a good connection with your team of advisors is important 0:26:56 Using a funnel as a visual metaphor 0:28:11 Was it about farmers not wanting to pay tax? 0:33:55 How young farmers can get their whole family to the table 0:36:52 Why it’s important for advisors to be transparent about their work
--------
39:25
37: Healthy Boundaries…How To Say No Authentically.
In this episode, I sit down with Farm Family Coach Kalynn Spain - a certified Leadership Coach with a degree in Conflict Resolution Studies and over five years of training and volunteer experience as a mediator. In this discussion Kalynn shares recent insights from her experience with moving in with the in-laws and beginning the challenging, but hopeful journey of farm succession planning. We also explore how healthy boundaries are essential to stay firm as a family when transitioning to farm life. We discuss what it looks like to remain true to your own family values, dreams, and schedules while integrating with life on the farm. By the end of the episode, you’ll have gained a new perspective on the importance of boundaries for self-care, a sense of safety, living authentically, and working together towards a more intentional future. Access the full show notes for this episode at elainefroese.com. Discover more about our guest: Kalynn Spain Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - become a Farm Family Harmony Member RESOURCES - download for FREE CONTACT - take the next steps in your transition BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:00:30 Introduction to Kalynn Spain 0:02:57 Boundaries and emotional regulation 0:08:01 Assumptions began after moving to the farm 0:08:43 We don’t always need to give specific reasons 0:09:07 External vs internal boundaries 0:10:04 Saying no authentically 0:13:29 Finding the courage to set boundaries 0:16:46 Healthy ways to build trust 0:21:00 Going to a financial planner for clarity on and off the farm 0:26:00 Challenging assumptions and the stories we tell ourselves 0:28:47 Boundaries promote safety and the authentic self
--------
32:16
36: The Future Leader, The Successor's Guide to Family Business Leadership
In this episode, my guest is Patti Durand - author, speaker, facilitator, and mediator specializing in succession planning for family businesses. Patti has just released her first book, The Future Leader - which is effectively a workbook families can read together and use as an instruction guide to work through the tough stuff. We discuss how much of the strife families experience is simply because they do not yet have the language to communicate their needs in a clear and effective way. Patti shares key information about how assumptions, accountability, and avoidance play a big role in the success of the successor and what you can do to assure it. Our conversation is geared towards folks in agriculture, but Patti has made it a priority to make sure anyone reading her book, no matter their background or gender, is able to benefit from the wisdom within. Access the full show notes for this episode at elainefroese.com. Discover more about our guest: Patti Durand Elaine Froese Resources: Watch this episode on YouTube. SPEAKING - book Elaine for your next event COACHING - find your Farm Transition Coach MEMBERSHIP - become a Farm Family Harmony Member RESOURCES - download for FREE CONTACT - take the next steps in your transition BURNING QUESTION? Submit it here for Elaine or her coaches Timestamps 0:00:30 Introduction to Patti Durand 0:01:21 Why the title to Patti’s book changed 0:03:00 Patti’s path to Brightrack Consulting 0:05:52 Patti’s key messages 0:06:53 Why the book was written in 2nd person and without gender 0:09:21 Giving farmers the language they need for hard conversations 0:10:30 The thing about assumptions 0:13:23 Awareness and better decision-making at an earlier age 0:16:14 What’s stopping people from breaking down assumptions 0:17:15 Transparency and personal wealth bubbles 0:20:23 Accountability when you don’t know the answer 0:21:58 Why founders find financial transparency so difficult 0:23:39 Communication habits that are not serving us 0:24:50 A peer network beyond your family 0:29:30 What drives Patti’s passion
Get personal with Elaine Froese, Canada's Farm Whisperer, in Farm Family Harmony, where no farm topic is taboo! Whether it's about a Daughter-In-Law feeling left out of the farm family, which sibling gets the family farm, or when it's time to tell Mom and Dad to respectfully retire, Elaine covers the crucial conversations every farm family needs to have.
Australia