Woodbury: Family Business Matters
Lance Woodbury DTN Farm Business Adviser
Thu Aug 7, 2014 08:07 AM CDT

You need to answer one question to get everyone to work together, think about the future and take action.

Working together in a family business is no easy task. Multiple roles, complex relationships and conflicting histories merge to form what meteorologists call a perfect storm -- a difficult state of affairs arising from unpredictable causes -- in your family's interaction. The concepts of fairness and equality become so muddy that any attempt at principled decision-making goes awry. And finding the time to work on succession and estate planning, when even the daily business decisions seem overwhelming, is as elusive as ...

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