Diversification helps Montana ranchers strengthen family business

Montana Ag Network: Diversification helps Montana ranchers strengthen family business

Its hard to know where the circle begins and ends for the 5L Ranch operation based in the Ruby Valley. Does it begin at their alfalfa pellet factory? Or does it begin with the livestock? Either way, the family business thrives on diversification."From the field that we are growing, to the cattle thats eating it, to the steak on your plate. Its all done right here," says Lariss Oldenburger, one of the four siblings who participate in the family f…

Diversification helps Montana ranchers strengthen family business

Its hard to know where the circle begins and ends for the 5L Ranch operation based in the Ruby Valley. Does it begin here at their alfalfa pellet factory? Or does it begin with the livestock? Either way, the family business thrives on diversification."From the field that we are growing, to the cattle thats eating it, to the steak on your plate. Its all done right here," says Lariss Oldenburger, one of the four siblings who participate in the fam…

She writes: Julia Velarde Sussoni, professor at the University of LimaFamily companies are the engine of the world economy, known for their long-term commitment. However, many face critical challenges in planning succession, putting their continuity at risk.This process goes beyond relieving the leader: it requires managing emotions, aligning interests and establishing solid governance structures. Below, we present six keys to achieving a succes…