The final of our three keys to success is services. Some of this has already been covered under technology - but there is more to it than that. Business specific expertise is an important part of helping families realize that there may be more value to keeping the family farm or business than selling it. Land management, timber management, business valuation, estate planning, and general business planning advice are all important, depending on the economic landscape in the communities you serve. These capabilities will set your bank apart with current and future generations. For example: the death of the farmer in the family need not mean selling off the land, if you can aid the surviving spouse in leasing out the land for farming. Doing so can provide comfort to the family, by keeping the land, and generate needed income for years to come. There are many examples across many family oriented businesses.
As I said last time, packaging and promotion is critical . . . as a part of your overall bid to serve the heirs to your current customers. Put together a brochure (print and electronic) and perhaps a web site to promote your ability to assist families in preserving and enhancing wealth across generations . . . include descriptions of all the ways that you can help. Remember that promoting a comprehensive package casts you in a much better light than waiting to react to requests for services. If you are serious about surviving generational transfer, make it evident to all that do business with you.