1. Planning with INTENT Do I really need a Vision & Mission?

2. “Why are we doing this?” Critical planning need… How to transition the farm family business to a successor Outcome-based planning… Begin with the place you want to end up, then work backward to figure out how to get there Getting it out there… We’re more likely to do something that is written down Getting it “mutual”… Everyone need to know where we are going

3. What’s the difference?!?! Vision Statement Where we want to end up when we are successful. Mission Statement Why this family business will take us there. Both must stretch, inspire, and unite

4. Putting Them Together A statement of intent combines your vision for the for yourself, your family and your farm and what your business means to you, your community and your customers into one statement.

5. THE VISION STATEMENT If you don't know where you are going, any road will get you there.

6. What is a Vision? A vision is the guiding image of success… For self For family For farm And beyond …for a future that is planned and agreed upon by all decision-makers. Your values and vision will shape your entire planning process…

7. What does a Vision do? A Vision provides:  Destination – where we are going and when  Situation – surroundings (e.g. community, environment) and how we interact with them  Inspiration – power to move intellect or emotions  Motivation – incentive to act

8. Place yourself in your Vision  What are your values?  Where are you?  What does it look like?  What are you doing?  How do you spend time?  Who is there with you?  What are they doing?  What else is there?  Why is it there and what does it add?  What contributes most to your quality of life?

9. My Christmas Letter Your are writing the 2022 Christmas letter. Include the following: What you are doing Where you are living What your spouse is doing Who is working in the business What they are doing and how it is being done Your family (Married? Children? Grandchildren?) The business (Growing? New enterprises? Profit?)

10. What is here? Why is it here? Who is here? Why are they here? What are they doing? Why are they doing it? How is it being done? How well is it being done? Is it profitable? Is it increasing wealth? What is happening: In our industry? On our Farm? In our lives? Remember These Questions

11. A Shared Vision To be useful, a Vision must be mutual –If one or more decision-makers do not buy into the vision, this substantially reduces the likelihood that anyone will achieve it As a family, see where visions overlap –And take note of where visions conflict Write a “statement” that describes a vision you all share?

12. What is a Mission Statement? “A mission statement rolls your values…and vision into a set of guiding principles that describe your business. It serves as a benchmark for you and your partners while communicating how and why your business exists to customers and other community members outside your business.” –B–Building a Sustainable Business, MISA

13. A mission statement describes how the farm family business will take us to the future we intend to create for ourselves, our families and our farm.

14. Mission/Statement of Intent Why does our business exist? What makes our business unique? For what will our business be known? To whom is our business responsible? How does our business fulfill a need? Particular offering of products and services? Particular context or value proposition?

15. Presented by: John R. Baker Attorney at Law jrbaker@iastate.edu 1-800-447-1985 Beginning Farmer Center www.extension.iastate.edu/bfc/ 877.BFC.1999