Ontario Agriculture

The network for agriculture in Ontario, Canada

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.

Views: 198

Comment

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

Join Ontario Agriculture

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

What Separates the Top-Tier Pork Producers from the Rest?

Some would say the pork industry is on the other side of the biggest financial downturn the industry has seen for the last 30 years. Others say we are not quite there yet. In a Farm Credit peer benchmarking review, Chris Ford, vice president corporate swine lender with Farm Credit, looked back over the past several years to see what differentiated pork operations that have done well and those that have struggled. 1. Production is king. “Producers who have adhered to strong biosecurity measures, embraced technology and have taken a mindset of getting as much production out the door as possible have had as much success as anybody in this industry,” Ford says. 2. Good bookkeeping matters. “Those who have done a nice job with financial acumen and understanding where they’re at from a financial standpoint have survived this downturn,” Ford says. “As a lender, we see that every day. Those producers that keep good sets of books and understand their cost of production make the best decisions

3rd Annual BBQ & Brew at the Ballpark Raises $20,000 for Iowa Food Banks

Hundreds of Iowans gathered at Principal Park on June 21 for the third annual BBQ & Brew at the Ballpark, raising more than $20,000 to support food banks across the state. The family-friendly event was presented by the Iowa Pork Producers Association (IPPA) in partnership with the Iowa Cubs and Fareway Stores. “Events like BBQ & Brew show how strong our communities are when we come together for a common cause,” said Doug Gruver, IPPA board member and two-time event volunteer. “Giving back is at the heart of what we do as pork producers. Whether it’s raising food or raising funds, we’re proud to serve Iowans beyond the farm. This event is also a great opportunity to showcase the high-quality product we raise in Iowa and the incredible BBQ talent and passion of the teams who compete.” This year’s event featured 24 backyard barbecue teams competing for $12,000 in prize money across three pork categories: loin, ribs, and butt. Fareway Stores played a critical role in making the event pos

Ontario pasture lands get $5M boost

Canada and Ontario are investing $5M to improve community pastures, boost sustainability, support cattle farmers, and enhance soil health through the Sustainable Canadian Agricultural Partnership.

Soy Canada annual meeting emphasizes opportunity and innovation amid industry challenges

Soy Canada’s annual meeting focussed on solutions that position Canadian soy for success during industry presentations and discussions at this year’s event. The theme, Gather and Grow, challenged participants to focus on finding opportunities amid global challenges created by conflict, uncertainty and volatility.

Canada’s dairy, poultry and egg farmers welcome the passage of Bill C-202

 Canada’s dairy, poultry and egg farmers welcome any effort aimed at ensuring no further supply managed concessions are made in trade negotiations, such as Bill C-202, An Act to amend the Department of Foreign Affairs

© 2025   Created by Darren Marsland.   Powered by

Badges  |  Report an Issue  |  Terms of Service