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Generating Success: The Continuity Quotient

07/02/2012 @ 2:27pm

As a young boy growing up in Nebraska, Dave Specht saw how a poorly-planned farm transfer determined the success or failure of a farm business. Today, he coordinates family business programs in The Center for Entrepreneurship at the University of Nebraska in Lincoln. In his work as a farm family consultant, he uses an online process called The Continuity Quotient to help facilitate a successful transition to the next generation.

Specht shares the following seven components of ensuring farm business continuity:

  • Business and Estate Planning 
  • Communication 
  • Leadership Development 
  • Trust 
  • Personal Resilience 
  • Retirement 
  • Investment Planning 
  • Long-Term Contributions of Key non-Family Employees 

The heart of Specht’s work is identifying intentions and expectations so that a successful succession plan can be developed and communicated in a way that preserves family relationships, and permits the business to thrive.