Coleman Locke and his son, John Locke, of the J.D. Hudgins ranch in Hungerford, TX join TSCRA Talk host, Kristen Brown, to discuss operating a multi-generational ranch. As a fifth-generation family member at the ranch, Coleman likens working with different generations of family to a marriage – communication is vital. John, who is part of the sixth generation working on the ranch, says that succession and transition of the business is one of the biggest challenges in agriculture. He encourages listeners to step outside of themselves and into the other persons shoes as each person is in a different stage of life and has had different experiences.
Learn the family customs, Coleman encourages; understand the history of the ranch, the things that have worked and the things that haven’t worked, and become very acquainted with what is going on to see how it can be improved upon. Similarly, John shares that with the current challenges to ranching the energy and creativity of the young people can prove beneficial.
Additionally, John notes the value of seeking out professional help with lawyers and accountants but also a mediator to help walk through family dynamics.
A special thanks to our sponsor – Redd Summit Advisors.
Links:
tscra.org
mydryranch.com