What’s your greatest farm asset? Lloyd Affleck hesitated when an advisor asked him this question, but the answer was something all farmers should consider.
– April Stewart, CG Associate Editor
Lloyd Affleck is connected. He’s a retired pedigreed seed grower and chair of Canterra Seed’s board of directors and he has served other industry boards and committees, including as chair of Pulse Canada. Country Guide asked, as a farmer, what’s the best advice he’s been given, and what advice would he give.
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While farming, Affleck started other enterprises, including a transport company. Diversification can strengthen the farm, he says, but it also adds complexity. “Are you ready to manage that many things at one time?” Starting another business, he says, “can take your focus off what you really are.”
On a related point, Affleck also takes us back to 2010 when he and wife Heather had plans for their son Kevin to take over the family farm where they grew wheat, barley and several types of pulse crops.
Unfortunately, Kevin’s asthma got in the way. “He had such fierce allergies,” Affleck says. To protect his health, Kevin chose another career.
While they were making their original transition plan, the Afflecks sat down with a succession planner who asked, “What’s your greatest asset?” It’s a question that made Affleck hesitate. The advisor said, “You shouldn’t hesitate. It’s your ground.”
“That really stuck with me,” Affleck says. Without the land, a farm is not a farm.
As far as giving advice, Affleck recommends farmers use a strong agronomy package. “I always like to see an agronomist attached to a farm,” he says.
“You’re a primary producer, and that’s where your focus should be, getting the best out of your asset.”
– This article was originally published in the October 2023 issue of Country Guide.
