Transition Planning Guide for Agribusiness

The surest way to reach a business goal is to plan on it. Successful Manitoba agribusiness owners are focused people. They have clear, flexible, short and long term business plans – and they monitor and revise their plans regularly.

Whether you’re starting, growing or passing along your business, you need a solid business plan. Manitoba Agriculture can help you build a plan for success.

Successful transition planning involves looking ahead and planning for the future. Leaving behind a healthy business is important to keep it viable and profitable for the long term. Use the following resources as a guide to create a transition plan for your agribusiness.

Transition Planning Guide for Agribusiness (PDF 8.24 MB)

 

Introduction to Guide (PDF 303 KB)

Case Study (PDF 83 KB)

Chapter 1: The Road to Transition Planning Success (PDF 32 KB)

Chapter 2: Initial Planning Meeting (PDF 44 KB)

Chapter 3: Phase 1 - Readiness Assessment

This includes topics that will help you to determine if you are ready to begin transition planning. Transition planning requires a significant investment of time, money and emotional resources. It is easier for ownership and management to make adjustments before beginning to work through the process.

Goals (PDF 194 KB)
Individual Values (PDF 233 KB)
Family Values (PDF 225 KB)
Family First / Business First (PDF 224 KB)
Retiring Generation (PDF 231 KB)
Succeeding Generation (PDF 223 KB)
Financial Performance (PDF 279 KB)
Management Assessment (PDF 200 KB)
Personalities (PDF 235 KB)
Historical Business Development (PDF 226 KB)
Meeting and Communication: Readiness Assessment Review Meeting (PDF 204 KB)
Go / No Go Decision (PDF 234 KB)
Statement of Intent (PDF 240 KB)

Chapter 4: Phase 2 - Plan Development

Foundation

Challenges in Transition Planning (PDF 214 KB)
Guiding Principles (PDF 203 KB)
Conflict Management (PDF 185 KB)
Resource Team Identification (PDF 92 KB)
Advisor Information Report (PDF 229 KB)

Strategic Direction

Vision (PDF 193 KB)
Situational Analysis (PDF 182 KB)
Risk Assessment (PDF 200 KB)
Critical Issues (PDF 192 KB)
Critical Issues Action Plans (PDF 202 KB)
Financial Targets (PDF 246 KB)

Meeting and Communication

Strategic Direction Review Meeting (PDF 206 KB)

Transition Options

Successor Assessment (PDF 183 KB)
Ownership Options (PDF 185 KB)
Business Structure (PDF 191 KB)
Financial Performance (PDF 211 KB)

Preliminary Advisor Review (PDF 28 KB)

Estate Plan Elements

Estate Distribution (PDF 164 KB)
Wills, Power of Attorney, Executor (PDF 166 KB)
Insurance (PDF 205 KB)
A Legal Guide to Farm Estate Planning (PDF 1.05 MB)

Human Resources

Management Structure (PDF 190 KB)
Management Activities (PDF 198 KB)
Job Descriptions (PDF 192 KB)
Compensation (PDF 196 KB)
Training and Skill Set Development (PDF 151 KB)
Roles, Responsibilities and Authorities (PDF 232 KB)

Agreements

Unanimous Shareholders Agreement (PDF 185 KB)
Business Agreements (PDF 200 KB)

Deal Breaker Issues (PDF 155 KB)

Final Reviews, Meetings and Sign off (PDF 756 KB)

Chapter 5: Phase 3 - Plan Implementation (PDF 156 KB)


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