Finding Transition States Algorithmically for Automatic Reaction Mechanism Generation
Business Transition Planning: Receiving Generation.
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Transcript of Business Transition Planning: Receiving Generation.
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Business Transition Planning:
Receiving Generation
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2010 Young Farmer &
Rancher
Excellence in Agriculture
Award
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A Brief HistoryThat was then… Original homestead: 1814 Vale Wood Farms: 1933
This is now… 5th and 6th generation 35 full-time, 15 part-time employees
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Dairy Processing Plant
Dairy Farm
Route Sales Direct Marketing
From Moo to You!
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Dairy Farm
Our commitment to quality dairy products begins with our commitment to a healthy, happy herd of dairy cows
Farm 500 acres Milk 200 cows, 2x 85lbs milk, 110 SCC FARM participant Level 6 Johne’s-free
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Dairy Processing PlantProcess a full line of dairy products
Milk from ours and 3 other local farmsManage supply and demandGMPs, HACCP plan, FSMAInspected by PDA, DEP, FDA
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Route SalesWholesale accountsHome delivery accounts“The customer is always right!”Pricing, administration, collections
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Direct Marketing
Farm events and Dairy Store salesOn-farm Dairy StoreEducational farm tours for school groupsFarm-to-fork dinnerPumpkin Patch, hayride toursSocial media outreach – “like” us!
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The Power of Social Media
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• Generation One• 1933: Sole Proprietorship
• Generation Two• Partnership
• Generation Three• S-Corp
• Generation Four
Business Structure
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Transition PlanningFalse starts
2005: Consultant 12007: Consultant 22009: Consultant 3
Current effort2012: Mike Hosterman, Ag Choice2015: Holding company with by-laws established
with our attorney, accountant. Awaiting business plan. Hint. Hint.
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Transition Planning: ReceivingOur Challenges:
Dynamic business and dynamic family: Generation Three: 8 people ages 68-56Generation Four: 17 people ages 41-13Generation Five: 19 people ages 17-6mo
Need a dynamic plan – simple yet adaptableMoving forward, there is no 3 vs 4 – just US
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Transition Planning: ReceivingMy Challenges: Giver generation
Is very maleSpecial listening skills requiredLots of ratchet help…but not much planning
assistanceMay retire but aren’t going anywhereThink budget is the “b” wordHave high expectations I hope I can deliver
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Transition Planning: ReceivingMy Challenges: Receiving generation
Is very maleProduction-oriented
Have ideas…LOTS of ideas…Varying work experience and education
Part-time participation and ownership optionsHave high expectations I hope I can deliver