This confidential forum connects you with a handful of fellow leaders to share best practices, tackle challenges like workforce development, automation, and KPI benchmarking, and gain actionable insights. With expert facilitation, biannual in-person meetings, and a tight-knit network of non-competing peers, you鈥檒l find strategic support and real-world solutions. 

There are only a few spots left so don鈥檛 wait! If interested, contact Derek Wagoner at 913-643-5079 or Derek.Wagoner@PinionGlobal.com to learn more.

Their sponsorships offer them elevated visibility among convention attendees, and their contributions help lower costs for attendees. If you would like to sponsor a portion of the Supplier Showcase, call the office at (314) 878-2304.

The 果冻传媒 extends its gratitude to the generous sponsors of the 2024 Marketing & Distribution Convention in Addison, TX. Your contributions played an essential role in making this event possible, ensuring its success and enhancing the experience for all attendees.

We value your unwavering support and are proud to have your partnership. Your commitment helps us bring together industry leaders, build connections, and promote innovation in the farm equipment manufacturing community.

Thank you for your dedication and for being an important part of our Association. We look forward to continuing this partnership for years to come.

Members of this Association represent success stories, many of which are also family stories. These stories include innovation, risk, sacrifice, and exhausting effort. They are stories with heart, and that sometimes makes it difficult to write the chapter in which the main character surrenders the lead role.

It can be tough to talk about succession, especially now, when there is little time to talk about anything, said Justin Mentele. The intensity and challenge facing the farm equipment industry may, in fact, serve as a catalyst for many leaders to consider now the right time to step aside and slow down.

When it is time to consider a transition in leadership and ownership, you should first define two terms that can create confusion: estate planning and succession planning.

Estate planning covers the transition of financial wealth or physical assets from one generation to the next. The process typically begins during one鈥檚 lifetime, but often does not complete until after death. This hand-off process requires difficult decision-making and thoughtful planning.

Succession planning is based less on physical and more on psychological transitions. At the heart of succession planning is a person, or group of people, who have been in control of the day-to-day and strategic operations of a company. It represents what can be the emotional task of transitioning control to others. The process of co-creating psychological ownership of the vision, strategy, goals, decisions, performance, and results of the company is not easy.

Both types of planning are critically important!

Talk to a Professional at Pinion
The Association has formed a partnership, with Pinion, to offer members no-cost, confidential, 60-minute consultations on succession planning and mergers and acquisitions.

To take advantage of this member benefit, contact Justin Mentele at Pinion at (463) 209-7606 or Justin.Mentele@PinionGlobal.com.

Whether you are an aspiring entrepreneur, a manager in a growing firm or an heir to a family business, this workshop will help you on your journey as an Emerging Owner. During this workshop, you will learn the fundamentals of finance and accounting required as a business owner and how to professionally manage a growing business. In addition, we will dive into what it means to be a leader and an owner, all while managing employees who may be family members or are your former peers. Come and learn what it means to transition from employee to owner, and the leadership skills it takes to create a workplace that offers opportunity and long-term profitability.

Justin Mentele, Principal; Alex Breitinger, Principal; Travis Free, Senior Manager; Kala Jenkins, Manager, will provide information and guidance in this beneficial seminar. There’s no cost for this workshop, but we would like to know how many plan to attend. To sign up to participate or if you have questions, contact Sarah@FarmEquip.org.

Whether you are an aspiring entrepreneur, a manager in a growing firm or an heir to a family business, this workshop will help you on your journey as an Emerging Owner.  During this workshop, you will learn the fundamentals of finance and accounting required as a business owner and how to professionally manage a growing business. In addition, we will dive into what it means to be a leader and an owner, all while managing employees who may be family members or are your former peers. Come and learn what it means to transition from employee to owner, and the leadership skills it takes to create a workplace that offers opportunity and long-term profitability.

This workshop will take place Monday afternoon, March 20 at the Supply Summit and will be presented by Alex Breitinger, Principal; Travis Free, Senior Manager; Kala Jenkins, Manager.

鈥淥ne of the most important things you should tackle right now,鈥� advises Jim Rein, Next Gen lead for Pinion, 鈥渋s to ensure your family’s future business goals are secured. The one guarantee in this life, is there will come a day when you will no longer be in charge. How successfully you transition or transfer your business is highly dependent upon setting up an estate plan.鈥�

“Less than 10% of family businesses successfully pass to the third generation.” Studies show this is due to: inadequate estate planning, insufficient capitalization, and failure to prepare the next generation.

Considerations for Your Estate: How Operations Fail at Transitioning
Rein describes a common scenario he comes across 鈥� that many business owners are the unfortunate victims of thinking a will is enough to do the job of securing their legacy.

During a tour of a family operation in the Midwest, a Pinion client pointed out a neighboring operation. “You should have seen that place 10 years ago. It was beautiful鈥ell run, well-maintained equipment, and just a really great operation,” he said.

He continued to share that the patriarch passed away and the operation fell into disarray and the family members were fighting over the estate. 鈥淚 heard he did some estate planning like a will or something, but it obviously wasn鈥檛 enough to keep the thing going the way he wanted鈥hat a shame.鈥�

Five Things an Estate Plan Will Do:

1. Make your wishes clear and protected. Perhaps the greatest gift you can give yourself and your loved ones is peace of mind. Knowing your wishes are laid out in writing and supported by legal documentation ensures you are protected in your passing.
2. Minimize tax burden on beneficiaries. The government can currently tax up to 40% of an estate over $12.06 million. Too often, an ill-planned gift creates a tax bill that heirs can鈥檛 afford without selling part or all of the estate. A tax consultant can help navigate the gift and estate tax exemptions so that more of your assets pass to your loved ones.
3. Protect family relations and minimize disputes. Money, business, and land are all deeply personal. An estate plan minimizes room for strife, making it easier for grieving family to process together rather than against each other.
4. Plan for charitable giving. Whether you want to gift cash or specific assets, there are several charitable vehicles you can use to make sure gifts are made according to your wishes and income and estate tax liability is minimized for recipients.
5. Protect family wealth and legacy. Without a proper estate plan, a probate court will most likely determine what happens to your assets. This can be expensive and take months and years to settle and gives family limited control. An estate plan ensures your assets, land, investments, retirement accounts 鈥� all of it lands in the right hands without a lengthy, public, and expensive probate. This is the best way to protect your family, your legacy and your life鈥檚 work.

Source:

  What鈥檚 ahead for your business this year? Next year? And further down the road? The most frequent questions we鈥檝e received from manufacturers this year are: 

1.  How should I capitalize on the good times now, and

2.  How can I prepare for the next inevitable downturn? 

While we鈥檙e not meteorologists in the business of predictions either, we can help you build a solid business strategy to prepare for both good and bad times.

Pinion (formerly KCoe Isom) business strategists will guide you through the process and share tips to position your business to pivot if needed.

LIVE WEBINAR: August 31, 2022 at 2:00 PM Central

All registrants will receive the recording within 24 hours of the end of the webinar.

REGISTRATION LINK:
 

A national leader in food and agriculture consulting, KCoe Isom, is writing a new chapter. This 鈥楿.S. Top 100鈥� accounting firm is rebranding as Pinion to encompass a more forward-thinking, proactive and global approach to business.

鈥淭his is a deliberate and proactive move to accelerate our mission, which is to continue to make a difference in the world we live in by using robust resources to help guide, strengthen and secure the future of agriculture operations and production,鈥� said Jeff Wald, Pinion CEO.

With the advantage of a firm that has been dedicated to the success of farms and ranches for 90 years, Pinion鈥檚 global cache of diverse ag production resources can help agriculturalists achieve a more fruitful production through holistic decision making.

Pinion also serves manufacturing, distribution and community organizations of all sizes with these and other offerings, including specialized tax, auditing and accounting services; consulting on legislative policies and public affairs; leadership development; strategic planning and ag marketing, and sustainability.

Learn more about the Pinion team who is dedicated to helping businesses succeed well into the future at .听