Posted 4/27/2015 17:46 (#4541038 - in reply to #4540975) Subject: RE: Communication
Jim Beam - 4/27/2015 16:41
Have you asked your dad and even your uncle about their thoughts and expressed yours?
If you guys can't talk now about the goals, strategy, and timing of the business transition and at least your schedule, pay, and duties it will not work later.
We discussed it last week. My uncle asked me what I would like to be done for next year, I said that I hope we can add some acerage, but we can't count on that and even if we do it would take a fair amount to justify 2 full time hired guys. Another 80 or even 3-400 more acres wouldn't really require a lot of change in terms of labor and equipment. Then I said how if that does not happen I would like to be able to replace our hired man. He agrees with me.... When I have this discussion with my dad I get told to focus on my business and I can do it alongside farming. I don't see my business generating enough extra money to equal the extra money I could make as a full time hired guy.
From a financial standpoint I could use the additional money. I just got married and in a few years I'm sure my wife and I will be thinking about children. Working as a hourly guy I may make at the most 9k a year. The hired man obviously gets much more... I can still work my business and be a full time man.. Farming would come first... it does now and it would then. To me the issue is black and white. Let a family member benefit financially... or let some other guy.
Son and Hired Man.....
