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 money
• Fair vs equal: how to keep the farm viable without leaving siblings behind
• The "hand grenade" facilitator — and why combative lawyers and accountants make it worse
• Mike's facilitation process: one-on-one conversations, setting the agenda, naming the elephants
• Why you don't have to hand over management and assets at the same time
• The "chequebook before 30" rule for bringing the next generation into decision-making
• Why passing on the farm with debt isn't a bad thing — if it keeps the farm's size
• How contested wills get divided equally — and why transferring assets early protects the farm
• Strategies for paying out non-farming siblings fairly
• How financial modelling shows the next generation exactly what they're walking into

CHAPTERS:

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 up

ABOUT 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)

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Learn more about P2P Agri: https://p2pagri.com.au