NEWS
Woodbury: Family Business Matters
Lance Woodbury DTN Farm Business Adviser
Mon May 12, 2014 02:05 PM CDT

My last column focused on self-awareness as a key ingredient in the succession process. Armed with an understanding of your strengths, weaknesses and impact on others, you are able to acknowledge or modify behavior or communication that often prevents smooth transitions.

For example, if you know your tendency to be short-tempered causes family members to hide difficult issues, you can ask them for a break in the discussions after tough topics, allowing you time to cool off. Or if one of your strengths is managing details, you might ask to be involved in implementing certain aspects of a financial reorganization ...

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