From the President
Gene Copenhaver
A PLAN MAKES ALL THE DIFFERENCE
One of the best things we can do as a service to the cattle industry is to ensure the next generation can carry it forward. While succession planning is often one of the most difficult conversations farm and ranch families face, it is also one of the most important. These discussions can be especially challenging for families whose roots run deep on the same land and livestock across generations.
I understand. I’ m the fifth generation on my family’ s cattle farm in Virginia. Without those difficult conversations, I could not have raised my children on the farm and watched my grandchildren enjoy this lifestyle as well. I’ ve been through transition planning with my own children, so I know it is uncomfortable. My son, Will, helps me manage the farm and make business decisions. He will be able to seamlessly take over one day— along with his siblings if they want to return to the operation— because we have already begun the transition process.
I had a long career as an ag lender, and I did financing for a lot of legacy farms. I saw my share of families who never shared the books with the incoming generation of owners. Those operations were faced with preventable challenges when the primary manager passed away, and the loss was compounded by the burden the operation became.
I saw plenty who did it right, too. Those were the people who met with their financial advisors and legal consultants to build frameworks to transition the operation into new hands. They also shared their institutional knowledge with their kids and grandkids to instill confidence in them as they take over the farm. Passing along wisdom, both failures and successes, is just as valuable as passing on land and cattle. We owe it to our loved ones to give them the tools to succeed as cattlemen and women.
Multi-generational operations are vital to our industry, but we also need to assist first-generation farmers and ranchers. In my career, I helped many eager and talented beginning producers access the capital they needed to start an operation. Meanwhile, there are plenty of producers looking to retire who have a lifetime of knowledge to share. We can create pathways for young producers by connecting these generations through mentorship and transition opportunities. Sometimes, succession planning happens outside the family to give passionate young cattlemen and women a chance to succeed.
Passing along wisdom, both failures and successes, is just as valuable as passing on land and cattle.
Every operation is unique, but I have learned that having a plan makes all the difference. That’ s why NCBA is focused on giving producers practical tools to get started. This summer, NCBA launched an online learning module that guides families through the steps of transition and helps them tailor a plan to their operation and goals. It is accompanied by a workbook producers can use to assess where they are and develop a plan that is adaptable as the operation evolves.
This resource is one of the ways NCBA is supporting the next generation of cattle producers and industry leaders. NCBA is providing producers with resources, tools and expert insight so we can complete the transition process confidently and before a crisis. Without preparation, we risk losing a lifetime of hard work and leaving our loved ones with a burden.
The cattle business is built on strong people and communities, and it’ s our responsibility to make sure the next generation carries that forward. Our industry needs young cattlemen and women who are equipped to become owners, managers and leaders.
The future of our industry depends on successful family transition. With 95 % of U. S. farms and ranches remaining familyowned, agriculture depends on empowering young producers to continue their family legacies. Using tools like NCBA’ s new online module and workbook, we can secure business continuity and reduce stress for our families. Our operations are going to undergo a transition at some point, whether we are ready for it or not, so let’ s be proactive and implement structured plans.
I encourage you to complete the module on NCBA. org, even if you have already started transitioning the farm or ranch. Use the workbook to evaluate your succession plan or as the foundation to create one. I know these conversations can be difficult, but the best gift we can give our children is a clear path forward.
CLICK HERE TO ACCESS NCBA’ S SUCCESSION PLANNING TOOLS. www. NCBA. org NATIONAL CATTLEMEN 5