We will completely pay for the original 200 acres in the next 12 years. Good communication is a prerequisite for setting goals. After you have considered your own individual goals, it is imperative to communicate about them with the rest of your family and farm partners to insure family unity. When considering farm and family goals for successful management, it is important to keep in mind that your goals must be consistent with those of all farm partners and family members. If farm business goals and objectives strongly conflict with goals of others associated with the business, there is potential for difficulty.
Open communication is the key in discussing long-term farm goals.
Here is a situation that may seem familiar to all of you. Case in Point Jerry returned to the home farm and started a partnership with his father, Marshall. Jerry wanted to expand the business rapidly in order to provide a very good income for two families and to increase their prestige in the community. Marshall had worked most of his life to reduce farm debt, which was now at a comfortable level for him. Jerry kept expanding the business at a moderate rate.