The Future Leader - The Successor's Guide to Family Business Leadership with Patti Durand

In this week's episode, Tracy sits down with Patti Durand, author of The Future Leader – The Successor's Guide to Family Business Leadership, to discuss the vital role of successors in family businesses and how they can navigate the complexities of leadership transitions.

Patti speaks about her book that has been written to share insights on how to prepare the next generation of leaders, why these transitions are so difficult, and how to navigate crucial conversations with parents.

Whether you're a successor or someone guiding the next generation, this episode offers valuable strategies for successful leadership transitions.

Are you hoping to take over the family farm one day? Are you are farm founder and not sure where to start with transition planning?

If so, this episode and Patti's book is a MUST READ for you.

I loved this conversation and I am soooo proud of Patti and her new book. See you inside this week's episode!

Tracy

🔔 Stay updated with in-depth podcasts on agricultural market updates, expert farm economy analysis, the latest farming technology innovations, and more — hit subscribe! https://www.youtube.com/@farmmarketer3270/?sub_confirmation=1

=============================

✅ About The Impact Farming Show: Produced by Farm Marketer.

Farm Marketer is a Canadian digital media company specializing in publishing agriculture content that matters most to Canadian farmers: news, commodities, agriculture events, agriculture real estate for sale, and much more.

Farm Marketer is also the proud producer of the award-winning agriculture show The Impact Farming Show. This weekly video and podcast show is dedicated to introducing farmers to the people and ideas that will impact their farming operations.

Join show host Tracy Brunet as she speaks to top minds and change makers about what's currently IMPACTING agriculture.

=================================

🔎 Related Phrases:

Farm Business, Farm Finance, Farm Management, Sustainable Farming, Transition Planning, Succession Planning, Farming Tips, Farm Business Management, Farming Success, Financial Independence For Farmers, Wealth Management for Farmers, Farm Funding Solutions, Agricultural Finance, Farming Innovations, Farm Financial Solutions, Transition Planning Farming, Succession Planning Farming, Farm Founders, Farm Successors, The Future Leader, Patti Durand, Agribusiness

#FarmBusiness #FarmFinance #FarmManagement #SustainableFarming #TransitionPlanning #SuccessionPlanning #FarmingTips #FarmBusinessManagement #FarmingSuccess #FinancialIndependenceForFarmers #WealthManagementForFarmers #FarmFundingSolutions #AgriculturalFinance #FarmingInnovations #FarmFinancialSolutions #TransitionPlanningFarming #SuccessionPlanningFarming #FarmFounders #FarmSuccessors #TheFutureLeader

⚠️ Disclaimer: I do not accept any liability for any loss or damage incurred from you acting or not acting as a result of watching any of my publications. You acknowledge that you use the information I provide at your own risk. Do your research.

Copyright Notice: Our podcast and YouTube channelz contain dialogue, music, and images that are the property of The Impact Farming Show: Produced by Farm Marketer. You are authorized to share the video link and channel and embed this video in your website or others as long as a link back to my YouTube channel is provided.

© The Impact Farming Show: Produced by Farm Marketer

In this episode, Tracy speaks with Kenny Piecharka, the Country Manager at KWS Seeds Canada, Ltd. about the company's deep-rooted history, its expansion into the Canadian market, and the unique benefits of hybrid rye in modern agriculture. We dive into KWS's innovative approach to sustainable farming, the role of PollenPLUS® technology in improving rye production, and how hybrid rye is shaping the future of livestock feed and forage systems. Kenny also shares insights into how KWS is supporting Canadian farmers and what they can expect in the near future for expanded end use markets.

In This Episode, You Will Learn About:

• KWS Seeds Canada's History and Mission
  • A brief overview of KWS's long-standing legacy as a global leader in the seed industry and their mission to provide sustainable, high-performance solutions for farmers worldwide.

• KWS's Entry into the Canadian Market
  • Why KWS decided to establish itself in Canada, how the journey has unfolded so far, and the company's ongoing commitment to Canadian agriculture.

• The Unique Role of Hybrid Rye in Canada
  • What makes hybrid rye different from traditional crops like wheat and barley.

• Tackling Ergot in Rye with PollenPLUS® Technology
  • A look at how KWS's innovative PollenPLUS® technology helps mitigate challenges like ergot in rye production.

• The Growing Use of Hybrid Rye Beyond Grain
  • How hybrid rye is extremely beneficial for livestock feed and forage systems.

• KWS's Commitment to Sustainable Farming Practices
  • How KWS hybrid rye contributes to sustainable farming, and what farmers can do to integrate these practices into their operations for long-term environmental and economic benefits.

• Support and Resources for Farmers
  • The support KWS provides to Canadian farmers, including seed selection and agronomic advice, helping them optimize their operations for success.

• Looking Ahead: End Use Markets and Expansion
  • As KWS continues to grow in Canada, Kenny shares some thoughts on expanded end use markets.

If you are interested in learning more about about KWS Hybrid Rye for your operation, please tune into this episode.

............................... Show Links:

• KWS Seed Canada: https://www.kws.com/ca/en/

Join the Conversation:

• Comment below with your thoughts on hybrid rye or any questions for Kenny!
• Share this episode with fellow farmers and ag professionals.

...............................

Subscribe & Share: Don't forget to subscribe to stay up to date with all the latest episodes on innovation and sustainability in agriculture! Sign Up for Impact Farming Alerts: If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

Episode Overview:

In this episode, Tracy speaks with Bill Wirtz, Senior Policy Analyst at the Consumer Choice Center, to unpack the current state of European agricultural policies, the rise and recent decline of the "green agenda," and its impact on agriculture, trade, and food systems. We explore Europe's experience and discuss how similar trends may start to impact North America.

Key Topics Covered:

• European Agricultural Policy Landscape

• European Farmers Pushing Back Against Policies

• Why Europe Is Ahead of North America on Green Policies

• The United States' Agricultural Policy under the Trump Administration

• gricultural Policy in Canada and Recent Resignation of Prime Minister

• The Impact of Green Policies on Food Choices

• Advice for North American Farmers Watching European Trends

• What to Watch for in the Coming Years

Tune in to this episode for a deep dive into Europe's green agricultural policies, the growing backlash from farmers, and what North American farmers and consumers need to know as these trends begin to cross the Atlantic.

Detailed Show Notes:

European Agricultural Policy Landscape: Tracy asks Bill to give our audience an overview on European agricultural policy, starting with the Paris Accord, while tracing its roots back to the Kyoto Protocol. With so many terms floating around—Green Agenda, Green New Deal, Agenda 2030, Farm to Fork, and more—Tracy asks Bill to break them down and help connect the dots, offering a clearer picture of the environmental movement and its origins, which are shaping Europe's agricultural policies with a focus on sustainability and climate goals. European Farmers Pushing Back Against Policies: Bill talks about the increasing backlash from European farmers against restrictive policies, including product bans, land set-aside programs, Dutch farm buybacks, fuel and farm insurance hikes, and the latest farm inheritance tax. These policies have sparked widespread protests across the continent, and while farm protests have always been common in Europe, they have become increasingly more prevalent in recent years. Why Europe Is Ahead of North America on Green Policies: Bill explores why Europe is implementing green agricultural policies faster than North America and whether similar policies will emerge in the U.S. and Canada. The United States' Agricultural Policy under the Trump Administration: Bill provides insights into how Trump's agricultural policies may affect U.S. farmers, particularly regarding regulation, trade, and environmental standards. He also discusses the growing concerns around the Trump administration's agricultural policies, particularly regarding regulatory shifts and the potential impact on U.S. farming practices. He also touches on Robert F. Kennedy Jr.'s push to ban agricultural chemicals and anything he deems unhealthy. RFK Jr.'s position has sparked debate, as his proposals could significantly alter farming practices by restricting the use of pesticides, fertilizers, and other chemicals, raising questions about their long-term impact on food production and farmer livelihoods. Agricultural Policy in Canada: Tracy and Bill discuss Canada's agricultural policies, including the government's receptiveness to pro-trade and innovation arguments, the resignation of Prime Minister Trudeau, and the recent withdrawal of six national crop organizations from Canada's sustainable agriculture strategy. The Impact of Green Policies on Food Choices: Bill highlights how Europe's green policies affect consumer food choices, comparing the differences in food systems, prices, and availability between Europe and North America. Advice for North American Farmers Watching European Trends: Bill shares key advice for North American farmers on how to avoid the regulatory pitfalls seen in European agriculture. What to Watch for in the Coming Years: Bill offers insights on the future of agriculture and green policies, identifying key developments North American farmers should be watching in the next few years. Tune in to this episode for a deep dive into Europe's green agricultural policies, the growing backlash from farmers, and what North American farmers and consumers need to know as these trends begin to cross the Atlantic. ............................... Bill's Winter 2025 Canadian Speaking Engagements: CrossRoads: Alberta's Crop Conference 📌 Edmonton, Alberta 📆 January 28 & 29, 2025 🌐 https://crossroadscropconference.ca CropConnect Conference 2025 📌 Winnipeg, Manitoba 📆 February 12-13, 2025 🌐 https://cropconnectconference.ca ............................... Additional Resources

• Consumer Choice Center: https://consumerchoicecenter.org

• Farm to Fork Strategy: https://food.ec.europa.eu/horizontal-topics/farm-fork-strategy_en

• The Paris Agreement (also called the Paris Accords or Paris Climate Accords): https://unfccc.int/process-and-meetings/the-paris-agreement

• Canadian Crop Organizations' Withdrawal from Sustainable Ag Strategy: https://www.realagriculture.com/2024/12/federal-governments-sustainable-ag-strategy-suffers-setback-as-six-national-crop-organizations-withdraw/#:~:text=RealAgriculture%20has%20confirmed%20the%20Canadian,from%20the%20SAS%20advisory%20committee

............................... Contact & Follow:

• Bill Wirtz on Twitter: [@wirtzbill]

• Consumer Choice Center: [@ConsumerChoiceC]

***********

Subscribe & Share: If you enjoyed this conversation, please subscribe, leave a review, and share this episode with anyone interested in agriculture policy, sustainability, or the future of food. Sign Up for Impact Farming Alerts: If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

In this segment, Tracy speaks to Shawn Jacula about CrossRoads - Alberta's Crop Conference and their upcoming January 2025 event. Join Tracy and Shawn in this Event Spotlight as they discuss the theme of this year's event "Future Proof Your Farm," speakers, insights, networking opportunities, and so much more. CrossRoads - Alberta's Crop Conference CrossRoads provides a dynamic platform where farmers can engage with leading experts, share experiences, and explore the latest trends shaping the agricultural landscape. What to Expect

• Exceptional Speaker Sessions

• Dynamic, Relevant Topics

• Latest Insights for Western Farmers

• Two Evenings of Valuable Networking

• Essential Tools to Keep Farmers Ahead of Industry Trends

CrossRoads – Alberta's Crop Conference is brought to you by three of Alberta's crop commissions, comprised of farmers and staff from Alberta Canola, Alberta Grains, and Alberta Pulse Growers.

***********

EVENT SPOTLIGHT - SHOW RESOURCES

CrossRoads Alberta's Crop Conference - Curated by farmers for farmers.

CrossRoads provides a dynamic platform where farmers can engage with leading experts, share experiences, and explore the latest trends shaping the agricultural landscape. Event Info: https://crossroadscropconference.ca

Purchase Tickets: https://crossroadscropconference.ca/tickets/ Don't Wait. Early Bird Savings Deadline is December 31, 2024 Connect with CrossRoads Crop Conference - Email / X / Facebook / Instagram

***********

SIGN UP

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

In this week's episode, Tracy chats with author Brian Reisinger about his compelling book, Land Rich, Cash Poor: My Family's Hope and the Untold History of the Disappearing American Farmer. If you're passionate about both reading and farming, this book and episode are for you. In the book and throughout this conversation, Brian takes us on a journey through the history of farming in the United States, from the 1920s to today, revealing the profound highs and devastating lows, the economic booms and busts, and how American farmers ultimately became forgotten. He emphasizes that this outcome didn't have to happen. As he discusses the evolution of American agriculture, Brian intertwines the story of his own family—starting with his great-grandfather, who fled Europe to escape war, only to face unimaginable hardships and personal tragedies while trying to build and sustain a growing farm family. This has quickly become one of my favorite books, and I highly recommend listening to the episode and then grabbing a copy. It will change the way you view agriculture, both past and present, and it will transform how you think about your own ancestors and their farming journeys. This book is a powerful blend of history, personal loss, and triumph in a way that's unlike anything I've ever read. Thanks for tuning in, Tracy ............................... About the Book

Taking on this working-class story of heart and hardship, award-winning writer and rural policy expert Brian Reisinger weaves forgotten eras of American history with his own family's four-generation fight for survival in Midwestern farm country. Readers learn the truth about America's most detrimental and unexplained socioeconomic crisis: How the family farms that feed us went from cutting a middle-class path through the Great Depression to barely making ends meet in modern America. Along the way, they'll see what it truly takes to feed our country: accidents that can kill or maim; weather that blesses or threatens; resilience in the face of crushing economic crises, from depressions and recessions to COVID-19; and the tradition that presses down on each generation when you're not just fighting for your job, you're fighting for your heritage. Praise For The Book: The hidden history of an economic and cultural crisis that is threatening our very food supply—the disappearance of the American farmer. Critically acclaimed with praise from across the political spectrum, Land Rich, Cash Poor reveals the urgent, unflinching truth.

| "An anthem to the family farm in America." — AP News | "A beautiful book. You won't want to put it down." — Peter Slevin, contributing writer for The New Yorker | "Well worth reading for those who care about what we eat and where it comes from." — Mike Gousha, Emmy-award-winning journalist and PBS documentarian

***********

SHOW RESOURCES

Brian's Website: https://www.brian-reisinger.com Book Available For Purchase on Amazon! https://www.amazon.com/Land-Rich-Cash-Poor-Disappearing/dp/1510779981

***********

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: BrettYoung

Canada's Largest Independent Seed Company - Learn More Here

***********

SIGN UP

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

LIVE Recording: Transition Planning Panel - The Future of Farming Conference in Prince Edward Island

This week, we're bringing you a very special episode, recorded live at the "Future of Farming Conference" in Prince Edward Island.

In November, Tracy had the privilege of attending this inspiring event and interviewing two exceptional farms about their unique journeys in farm transition. This episode dives into the challenges, triumphs, and invaluable lessons learned from their experiences.

Our first featured farm is represented by none other than PEI Agriculture Minister Bloyce Thompson, a well-known figure in the local farming community. Bloyce shares insights into the complexities of transitioning a farm, drawing from his own experiences as a dairy farmer and his personal farm transition journey.

The second farm, represented by Lauchie and Jolene MacEachern, offers a fascinating perspective on non-traditional third-party succession. Their story highlights the opportunities that can arise when young farmers look outside the box of traditional family-to-family transitions. With decreasing family sizes and a decline in interest from younger generations, many farm founders are forced to either sell their farms or explore alternative transition models. As many farmers prioritize preserving their legacy over quick financial gains, third-party succession is emerging as a viable and increasingly popular option.

In addition to these individual farm stories, Tracy shares her personal insights and some of the top farm transition tips she has gathered from hundreds of guest interviews.

She also leaves the event audience with an amazing FREE Transition Planning Resource eBook. Great news, we are also providing it for our loyal Impact Farming Show audience. You can check it out and download it using the link found below in the resource section.

This segment provides valuable advice and practical tips for young farmers who are considering their own farm transition.

We hope you enjoy this special episode. It's a testament to the resilience, innovation, and passion of the farming community. Thanks for tuning in, Tracy Brunet ……………………… More About the Future of Farming Conference The Future of Farming Conference hosted by the Prince Edward Island Department of Agriculture is dedicated to inspiring and empowering the next generation of farmers and future leaders in Prince Edward Island's agriculture industry. This conference will allow young farmers and those interested in becoming farmers to come together to share knowledge, resources, and connections to help drive success in the future of farming on PEI. The Future of Farming Conference is a unique opportunity for young farmers, professionals in agriculture, and new entrants interested in farming to come together, learn, grow, and inspire. For more information about this event, please visit their website: https://futurefarmingconferencepei.princeedwardisland.ca ……………………… More About the Event Panelists Hon. Bloyce Thompson Bloyce Thompson was first elected as the MLA for District 8, Stanhope-Marshfield, in the 2019 general election. In May 2019, Bloyce was named as Minister of Agriculture and Land and as Minister of Justice and Public Safety and Attorney General. In July 2022, Bloyce was named Minister of Economic Growth, Tourism and Culture. Bloyce is an active member of his community and the agriculture industry as a third-generation dairy farmer and businessman from Eastside Farms in Frenchfort. He is a proud graduate of Dalhousie Agricultural College. He has served his industry as a member of the genetic evaluation board of the Canadian Dairy Network and as a board member of the Dairy Farmers of PEI. Bloyce and his wife Terri are the proud parents of three children. Bloyce was re-elected as the MLA for District 8, Stanhope- Marshfield, on April 3rd, 2023. Lauchie and Jolene MacEachern Lauchie and Jolene MacEachern are dedicated dairy farmers operating Folly River Farm in Debert, Colchester County, Nova Scotia. Lauchie, who did not grow up on a farm, began working at Folly River Farm as a herdsman in 2001 while Jolene completed her degree. After gaining further experience out west, they returned to Nova Scotia, where they took full ownership of the farm on January 1, 2013, following a succession plan with the original owners. Lauchie and Jolene are proud parents of three children: Ewan, Allister, and Adriana. ............................... Show Resources

Future of Farming Conference: https://futurefarmingconferencepei.princeedwardisland.ca FREE Transition Planning eBook Download: https://www.farmmarketer.com/impact_farming_show/free_resources

***********

SIGN UP

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

In this week's Product Spotlight, Tracy speaks to Bryce Geisel to share more about "WOLF TRAX™ DDP™ Micronutrients." Bryce is a Senior Agronomist with Koch, and in today's segment, he joins Tracy to discuss the importance of micronutrients to crop performance. In this segment, Bryce and Tracy discuss:

• What is WOLF TRAX™ DDP and how it works
• When farmers think of nutrients, N, P and K are at the top of the list. Bryce shares why micronutrients are essential when considering nutrient needs.
• How can farmers tell if their soils are deficient in a particular micronutrient? Bryce shares some insights.
• Tracy asks about the difference between conventional micronutrient products and DDP.
• Bryce shares more about how the EvenCoat™ technology works and discusses the benefits of DDP being applied to NPK fertilizer.
• How can farmers know they're choosing the right product when looking at a micronutrient product?

If you are interested in boosting performance and helping set crops up for success, tune into this week's product spotlight on WOLF TRAX™ DDP™ Micronutrients. About WOLF TRAX™ DDP™ Micronutrients Simplify nutrient management with WOLF TRAX™ Dry Dispersible Powder (DDP™) micronutrients. Its innovative formulation delivers nutrients in closer proximity to growing roots, allowing crops to consistently access the right rate throughout the growth cycle. With EvenCoat™ technology, DDP nutrients uniformly coat the entire surface of dry fertilizer granules. This ensures micronutrients are evenly distributed across the field, boosting performance and helping set crops up for success. For more information about WOLF TRAX™ DDP™ Micronutrients please visit: https://kochagronomicservices.ca/wolf-trax-ca

...............................

Thank You to our Product Spotlight

Simplify nutrient management with WOLF TRAX™ Dry Dispersible Powder (DDP™) micronutrients. Boost performance and help set your crops up for success. https://kochagronomicservices.ca/wolf-trax-ca

...............................

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, Product Spotlights, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

...............................

In this week's episode, Tracy speaks to Mary Jo Irmen, author of Farming Without the Bank, about "Financial Freedom for Farmers." As farmers, we are constantly borrowing money, paying huge amounts of interest, signing it all over to the bank, and then hoping and praying that we are not actually just one or two bad years away from losing it all. Have you ever thought to yourself, "There must be a better way to do this" regarding Farming and banking? Well, if so, you will want to catch this episode. Mary Jo opens the conversation by saying, "The system of farming and ranching has changed over the last 100 years, but its financing has not." This bold and out-of-the-box statement started a fantastic conversation between Tracy and Mary Jo, where they discussed the pitfalls of traditional financing and how farmers can create financial independence, dependable cash flow, and maintain control of their assets with the use of Mary Jo's "Farming Without the Bank" concept and Infinity Banking. Mary Jo explains it all in a 101 fashion that is easy to understand. What type of insurance policy is this? How do you build up and borrow from your policy, and why is no collateral needed? How does the death benefit work? Tracy and Mary Jo also discuss how this policy is instrumental in making transition planning work, how it helps in fair and equal situations with off-farm children, and even discuss old-age care for the farm founders. Tracy asks Mary Jo her thoughts on "fair and equal" and you won't want to miss her answer. Hint. She's a hot NO on that one. She asks why you work so hard to build your farm in good and bad years only to destroy it by parcelling it all out and rendering it no longer a viable farming operation? If you are intrigued and more than happy to entertain a new conversation about Farming and banking…. don't miss this episode.

***********

SHOW RESOURCES

Mary Jo Irene's Website: https://www.farmingwithoutthebank.com Buy Farming Without the Bank book: https://www.farmingwithoutthebank.com/shop/

***********

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: BrettYoung

Canada's Largest Independent Seed Company - Learn More Here

***********

SIGN UP

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

In this week's episode, Tracy speaks to Barrie Mann from Genesis Fertilizers about "The Next Generation of Fertilizer Production in Canada." Did you know that despite the fact that urea is produced in Western Canada, farmers on the Canadian Prairies pay some of the highest urea fertilizer prices globally due to prices set at the NOLA port plus high freight costs? Genesis Fertilizers is bringing forth a farmer-owned urea production facility based in Belle Plain, Saskatchewan, with a distribution network that would serve Western Canada. In this opportunity, Barrie shares more about the plant, the plans, and the fact that farmers have the opportunity to invest to help get this project off the ground. Farmer investment is based on their fertilizer requirements, securing their future supply, and each farmer has the opportunity to receive financial distributions based on plant profits, offsetting the cost of fertilizer. In this episode, Tracy and Barrie speak about:

• The vision and "why" behind the project.
• Barrie shares how this plant will solve the current problems and frustrations farmers are having with fertilizer purchasing, access, and costs.
• This is going to be farmer-driven and farmer-funded. Barrie shares about additional investment partners and answers the question, "How does the farmer-owned model of Genesis Fertilizers create advantages for its shareholders compared to traditional fertilizer suppliers?"
• Barrie shares project timelines and a projected date for the start of the building process.
• Sustainability is top of mind these days. Barrie shares how Genesis Fertilizers is incorporating carbon capture technology and providing farmers with a low-carbon fertilizer option, which aligns with consumer and government priorities on sustainability.

Sound interesting? Don't miss this episode where Tracy speaks to Barrie Mann about this innovative project's who, what, when, where, and why. ⚠️ Disclaimer: This interview is provided for entertainment purposes only. I do not accept any liability for any loss or damage incurred from you acting or not acting as a result of watching, listening, or reading about this investment opportunity. You acknowledge that you use the information I provide at your own risk. Viewers are recommended to perform their own research.

***********

SHOW RESOURCES

Genesis Fertilizers Website: https://genesisfertilizers.com

***********

SIGN UP

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up

In this week's episode, Tracy speaks to Michael Langemeier in this episode titled "Sweat Equity on The Farm: How to Get It Right and Make It Fair." So what is sweat equity? Sweat equity is a form of compensation that considers that few farms have adequate cash-on-hand to fully compensate the next generation's labours. And in this week's episode Michael and Tracy speak about this often-tricky subject:

• What is sweat equity and why does it occur?
• Michael discusses the connection between farm profitability, accepting a returning family member, and sweaty equity.
• How can we measure sweat equity for estate planning?
• He shares the two main dilemmas that arise when calculating sweat equity.
• Dilemma #1 – treating each child fairly
• Dilemma #2 – Increases in farm equity
• Michael shares other factors that may affect the calculation.

If you are considering a sweat equity arrangement on your farm, you won't want to miss this week's episode.

***********

SHOW RESOURCES

Purdue University - https://ag.purdue.edu/department/agecon/extension/extension-resources.html Purdue Commercial Ag Learning Centre: https://ag.purdue.edu/commercialag/home/team/michael-langemeier/

***********

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: BrettYoung

Canada's Largest Independent Seed Company - Learn More Here

***********

SIGN UP

If you enjoyed this episode, don't forget to sign up as an Insider so that you are first to know about all-new Impact Farming episodes, Expert Corner Segments, fantastic contests, and new promotions https://www.farmmarketer.com/impact_farming_show/sign-up