Episode 52

SUCCESSION PLANNING with Stephen Shortt

No, not the hit TV series about a dysfunctional family dynasty with the siblings at war over who succeeds the founding father (who still wants to retain a powerful presence in the company).

With virtually every dealership or supplier in the agri-turf sector being a private family business, the challenges associated with deciding who is best equipped to take the business forward in a changing world are very real.

I talk to Stephen Shortt, a leading small business strategist about the tensions, the planning, the dynamics, and the personal ambitions that come into to play when deciding on succession issues.

Each family set up is different. Sometimes succession is a straightforward matter, at other times when several family members are involved, damaging conflicts can arise that can spread from the boardroom, to dining room and even the bedroom.

Speaking from personal experience, Stephen outlines how potentially serious family disagreements, often as a result of dogmatic attitudes, can be diffused to the benefit of all concerned when deciding on succession planning

LINKS

Stephen Shortt website

Entrepreneurs Organisation

About the Podcast

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Inside AgriTurf
The farm and grass machinery business

About your host

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Chris Biddle

Chris is an experienced journalist specialising in the farm and grass machinery market. He has worked for a major tractor manufacturer and been a managing director of a farm and grass machinery dealership in the West Country.
In 1988, he launched trade magazine, Service Dealer followed by TurfPro in 1998, selling both titles to Land Power Publications in 2015.
He was editor of Landwards, the professional journal of the Institution of Agricultural Engineers (IAgrE) from 2008 until 2019 and is the recipient of the 2020 IAgrE Award for Outstanding Contribution to the Land-Based industry.
Chris lives in Salisbury with his wife Trish, and is an avid cricket fan and member of the MCC for over 55 years.