There are two sides to a successful farm business transition: transfer of the business assets, or capital, and transfer of the management.
“I think true leadership is about doing both of those parts well,” says Elwyn Voss, financial services representative with The Voss Group in Norwich, N.Y.
There is a difference between the two components, Voss said at the Vita Plus Dairy Summit, held in early December in Merrillville, Ind. One is about being successful and the other is about being significant.
“Successful is a stack of ones that you build up. That’s the business wealth, the assets you build up,” he says. “Significant is building that management team and the complete package to carry it on to the next generation.”
Webinar explores amino acid balancing
In case you missed it, a recent webinar featuring a discussion on amino acid balancing has been recorded and is available at Dairy Herd Network.
During the one-hour webinar, Michael Van Amburgh, dairy scientist at Cornell University, discusses protein nutrition, the outcome of amino acid balancing and energetic efficiency.
For more information: Type “Increase efficiency with amino acid balancing” into the “Search” box.