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Your Farm Business PodcastAuthor: Lucy Krause
Welcome to Your Farm Business Podcast, bringing you the best in farm business thinking. We aim to bring experts to the farmer, to help manage todays farm business risks. Mike Krause, CEO and Founder of P2PAgri, helps farmers to run more profitable businesses by providing analytics and scenario analysis from their own data, to guide their business decisions. Language: en-au Genres: Business, Education, How To, Management Contact email: Get it Feed URL: Get it iTunes ID: Get it |
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Farm Succession Planning: Why "Fair" Doesn't Mean "Equal" | Mike Krause | Ep 12
Wednesday, 17 June, 2026
Succession planning is one of the biggest risks any farming family will face — and one of the most avoided. In Episode 12 of the Your Farm Business Podcast, host Tom Moir sits down with Mike Krause, founder and CEO of P2P Agri, for an honest conversation about getting the farm from one generation to the next without tearing the family apart.Mike has helped around 20 farming families work through succession — with outcomes ranging from genuine success to outright disaster. He shares what separates the two: open and honest communication, a skilled third-party facilitator, and a willingness to name the "elephants in the room" before they detonate. He also explains why fair doesn't always mean equal — and why treating every child identically can be the very thing that ends the farm.From the worst case he's witnessed (a son who gave the farm ten years, only to have his future end at the reading of the will) to the brothers who split a property and both thrived, this episode is full of hard-won, practical wisdom.WHAT YOU'LL LEARN:Why succession is really about management and control — not just moneyFair vs equal: how to keep the farm viable without leaving siblings behindThe "hand grenade" facilitator — and why combative lawyers and accountants make it worseMike's facilitation process: one-on-one conversations, setting the agenda, naming the elephantsWhy you don't have to hand over management and assets at the same timeThe "chequebook before 30" rule for bringing the next generation into decision-makingWhy passing on the farm with debt isn't a bad thing — if it keeps the farm's sizeHow contested wills get divided equally — and why transferring assets early protects the farmStrategies for paying out non-farming siblings fairlyHow financial modelling shows the next generation exactly what they're walking intoCHAPTERS:0:00 Welcome 01:20 How Mike fell into succession planning 04:09 Why it's the biggest elephant in the room 06:31 The worst case: a son's future ended at the will reading 08:26 Fair vs equal — and the emotional pull of the farm 09:06 How Mike facilitates a family meeting 12:23 What good succession planning looks like 16:43 Where to start if you've done nothing yet 18:59 One mouth, two ears: the facilitator's job 20:34 Modelling the numbers: the two brothers' story 24:08 Advice for families: go in with your eyes open 26:58 Splitting land: management matters more than acres 32:10 Strategies for paying out siblings fairly 35:37 Using the software to model the outcome 36:45 Wrap upABOUT THE GUEST:Mike Krause is the CEO and founder of P2P Agri, an Australian software and training business that helps farmers analyse profitability, model "what-if" scenarios, plan succession and make confident long-term decisions. P2P Agri delivers training one-on-one and in partnership with TOCAL Ag College in NSW.LINKS & RESOURCES:P2P Agri (free demo & Essentials tier): https://p2pagri.com.au"Farming the Business" by Mike Krause (GRDC)SUBSCRIBE for more conversations with the people shaping the future of Australian farm business.#YourFarmBusinessPodcast #P2PAgri #FarmSuccession #AustralianAgriculture #FarmBusinessManagementLearn more about P2P Agri: https://p2pagri.com.au
