Communicating Farm Family Values What’s Important? What’s Important? Who Cares?

M. Viebrock - WSU Extension VALUES ARE... VALUES ARE... n Things you believe are good, desirable and most important. n Your personal belief of what is worthwhile in live.

M. Viebrock - WSU Extension IDENTIFYING AND PRIORITIZING VALUES All values are important All values are important n Many factors influence and change our values n Values vary among individuals n There are no right or wrong answers

M. Viebrock - WSU Extension Planning for the Future  Will they come home to farm?  New management style?  Will they listen to experience?  Will they work from dawn to dusk?  What about those spouses?  How will change be handled?

M. Viebrock - WSU Extension Generational Definitions AgeYearTitles to 1945 Veterans, Silent, Matures, Traditionalist, Seniors, Pre-Boomers, Builders to 1964 Baby Boomers Personal Gratification, achievers, need to be fair to 1978 Gen X Post Boomers, Baby-Busters, want rewards, all about me! to 2000 Gen Y’s, Millennials, Net Generation (Twentysomethings)

M. Viebrock - WSU Extension VeteransBoomersGen XMillennials CommunicationDeliberateDiplomaticBluntDirect AuthorityRespectedImpressedUnfazedResistant Marketing“If you want it, you can buy it.” “Find out what they want” Ignore the market Interactive Global market High-TechSlide Rule Built infrastructure With hard work Calculator Quick and easy Computer Want to be entertained Internet Integrated life Work & Fun Work Ethic/StyleCommitted Team work & Community Driven Personal fulfillment Balanced Divided Loyalty Casual/TBA Independent Competent ApprovalAs GrantedSeek Validation IndifferentNot necessary Generational Differences

M. Viebrock - WSU Extension Women Running the Farm - Generational Differences - “Dedicate yourself” “Be independent” “Behave like a businessMAN” “Care for your family” “Be a mother” ë Loyalty to the family business is fused with loyalty to the family of origin ë Loyalty competes with family demands  Loyalty to “self”

M. Viebrock - WSU Extension Initiating Discussion Why is it so difficult? n Unpleasant overtones connected to growing old and dying n Children don’t want to appear greedy or as trying to take over

M. Viebrock - WSU Extension Someone needs to start the dialog … who will it be? Don’t be put off by family members who are not ready to talk … Don’t be put off by family members who are not ready to talk … They may never be ready and later may be too late! They may never be ready and later may be too late!

M. Viebrock - WSU Extension Continuation of the Family Farm How important is it to you … ­ That the farm remain in your family’s possession? Ponder: Children want to do something different than farm – how do you feel about that?

M. Viebrock - WSU Extension Expectations Related to Transfer Process How important is it to you … ­ ­ That the division of farm property among all children is equal in dollar value? ­ ­ That your children play a part in the decision making for the farm’s future? Ponder: Not everyone in the family is satisfied with the way the transfer occurs? How does this make you feel?

M. Viebrock - WSU Extension Maintaining Control of Farm Decisions How important is it to you … ­ To be involved in marketing decisions throughout your life? ­ To maintain some financial control throughout your life? Ponder: Younger generation wants major decision authority

M. Viebrock - WSU Extension Security for Both Generations How important is it to you … ­ ­ That your retirement wants are protected regardless of the effect on the long term viability of the farm? Ponder: Your children expect your financial help to get established in farming?

M. Viebrock - WSU Extension Concerns About Children How important is it to you … ­ To give financial assistance to children who choose farming as a career? ­ To provide financial assistance to help non-farming children become established off the farm? Ponder: Children may want to decide WHEN to involve you in major decisions.

M. Viebrock - WSU Extension Where does the time go? n It’s time to talk n It’s time to identify what’s important n It’s time to make a plan n It’s time to make decisions n It’s the right time!

Presented by: Margaret A. Viebrock WSU Extension