Are you prepared for tragic transition?

Over the past several weeks we have posted three videos featuring interviews that were filmed in the spring 2014 with Wayne Skrypnyk, the founder of Skrypnyk Group. We have shared these videos in order to highlight some important areas that businesses should address in order to achieve high performance.

One key area is that of preparing for transition. In July of 2014, Wayne passed away suddenly. Wayne was a true leader, an inspirational presence and a friend. People such as Wayne are not replaced. It is now the responsibility of all who have had the fortune to work with Wayne to continue on the legacy which he started over 25 years ago.

It is times like these that force all of us to reflect on many things. One item that was highlighted in the videos is the fact that many business owners do not plan for transition. One day you will dispose of your business. It might be while you are alive, or it could be upon your death. Either way, as an owner it is imperative that you undertake the appropriate planning to ensure that the transition happens on your terms and that the business is in a position to carry on in your absence.

Business succession is a situation that is detailed and discussed in countless case studies. But to us, it is real. It is fortunate that as a firm, we had taken our own advice and are therefore in a position to continue the legacy that is left by Wayne, and built by the team.

How ready is your business for transition? What would happen if you, or a business partner of yours, suffered an unexpected tragedy? Who would your business partners be?

Transition is often difficult for business families. We prefer to spend our energy thinking of how to build the business instead of planning our exit. However, as we have learned in no uncertain terms – you will transition your business one day. You may not be able to choose the timing, but you can choose that the transition takes place on your terms and that the business is well positioned to continue building upon your success.

Comment

You need to be a member of Ontario Agriculture to add comments!

Join Ontario Agriculture

Welcome to
Ontario Agriculture

Sign Up
or Sign In

Agriculture Headlines from Farms.com Canada East News - click on title for full story

Tariffs In Key Markets Underscore Urgent Need For Action

Today, Pulse Canada released the following statement in response to India’s decision to impose a 30% tariff on pea imports. “While Canada’s pea export program to India got off to a good start this fall, the recently announced tariff will challenge future sales, and the impact will be felt across the industry. “Canada’s pulse industry needs progress from the federal government on removing tariffs that threaten our competitiveness and damage our global reputation. While the government may not be able to influence domestic policies in other markets, we do expect it to resolve issues within its control. “The Government of China has been clear that its 100% tariff on Canadian peas is a retaliatory measure and will require a negotiated solution. We are hopeful that meetings this week will mark a timely and important step toward a resolution that allows Canadian peas back into the Chinese market. “Canadian growers and exporters have worked for decades to build trusted relationships with c

SARM’s Huber wants Western concerns heard in Ottawa

The head of the Saskatchewan Association of Rural Municipalities is wanting to see Western concerns addressed by the federal government. “We've been neglected for 10-plus years in western Canada, and Saskatchewan is in western Canada,” said Bill Huber, SARM president, to reporters following his morning address at the mid-term meetings in Regina. “And we've got an agriculture industry here that's struggling right now with tariffs and trade, and our farmers are really suffering because of the non-movement of grain, especially canola seed, to China. We've got one of our biggest trading partners just across the 49th parallel that we do have to do business with [the USA]. They're the closest and one of our largest trading partners. And we need to see those goods, livestock, beef, cattle, pigs, pork, those things continue to cross that border. So we need those exports.” Huber said it was also "disappointing to see that there's a $112 million decrease over the next year in agriculture spen

APAS expresses mixed feelings on Tuesday's federal budget

The President of the Agricultural Producers Association of Saskatchewan (APAS) has mixed feelings about Tuesday's federal budget. Bill Prybylski, who farms in the Willowbrook area, was pleased to see that agriculture was actually mentioned in the budget. He says there were some positives in the budget, like investment in infrastructure, the reinstatement of the accelerated capital cost allowance, and red tape reduction. Prybylski was also pleased to see the permanent reversal of the Capital Gains tax increase. But he says the announced changes to AgriStability won't make a difference to most producers, dealing with canola, pea and pork tariffs. Prybylski notes budget details are still quite sparse, so there's more work to be done in studying the document. He's also worried about possible budget cuts to Agriculture and Agri-Food Canada, which could affect agriculture research.

Ag in the 2025 federal budget

The House is expected to vote on the budget on Nov. 17

Statement from FVGC President, Marcus Janzen

The Fruit and Vegetable Growers of Canada (FVGC) President, Marcus Janzen, wishes to announce that Massimo Bergamini will begin a transition from his role as Executive Director as he moves toward retirement. The Board is grateful for his leadership and for the organizational achievements made during his tenure.

More…

Badges | Report an Issue | Terms of Service