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Having a successful farm business

Written By Anambra Farmers on Tuesday, 25 September 2012 | 19:33

1. Start your business prior to deciding to retire:
If you are however working, don’t quit your job and soon you are fully prepared in every aspect to start your farm organization. It is better to begin your farm business part time when you are still working; every business has challenges plus a learning curve. It is interesting to know that in the Bureau Value of Conduct for Nigerian city servants, the only PP (private practice) permitted isa griculture. Starting your agric business after retirement could be too late. Honestly, it is actually too late! Organisations should assist employees to arrange for retirement by organising pre-retirement training programmes. CUAD offers a well packaged pre- retirement agric training programme for organisations.

2. Look at your environment:
Your immediate environment might additionally be important. A small farm holder should look into if there are people close to who could afford his solutions. For example, I met a farmer in a village in Oyo State who had previously been into catfish farming; he put in heavily on catfish, but when the time to sell came, this individual couldn’t get buyers for his or her product. Why? His output was an excessive amount for his environment. The people in his environment can't afford his product, so he had to sell confused over a long period. Should your environment cannot absorb your result, make plans to take in order to distance markets.

3. Product understanding:
Adequate information on your farm business is not over-emphasized.. Don’t be afraid to ask questions from those people who are already in the business. Gain the main benefit of learning what the worst problems depend on the experience of those who've been there. Attend seminars and work spaces, buy and read books. Recall, information is power!

4. Interest:
Your interest in your proposed farm business is important. If you don’t have a small interest in raising animals or growing things, please don’t begin it. Your interest might just be in distribution of agricultural solutions or processing. Discover the aspect of agric that you would like to be involved in and initiate from there. For example, if you want to sell smoked fish, you really don’t need to have a fish farm to make it happen, you can buy from fish farmers and smoke to promote.

5. Know your market or create your market:
Before people start your agric business, your marketplace should be well defined. The questions of who do you wish to sell to, where are your current buyers? And at what price will they want to buy should be answered before you start your farm project.

Don’t produce what you're not sure people will buy. You can even create your own market, especially if it's a new product. I started raising Japanese quails not too long ago and selling the eggs was a problem, so I started giving out and about the eggs to friends and neighbours no cost and teaching on the fact that quail eggs. Today, the tale has changed; we cannot deal with the demand for the ovum.

6. Budget money for promotion:
A lack of proper plan for publicity is a mistake within farm business. Remember your farm produce can be a product. Immediately you start your current farm business, begin to tell people concerning the product and advertise it.

7. Generate multiple streams of income:
Grow or raise a couple of thing. A farmer should grow a couple of type of crop. Two or maybe more types of crop is advisable. Failure in one can be included in success in the other. A cocoa farmer can decide undertake a snail pen under the cocoa trees and as well plant some yams and greens. Varieties create income for farmers about the year.

8. Make professional close friends:
Make friends with farmers as well as organisations promoting agriculture. A link might just be all you need to market your products.

9. Don’t always be an absentee farm owner:
Engage in your business. Visit your farm and be actively active in the day to day running with the farm. Don’t abandon your farm to your consultant. Always remember it is the money. Never blame your farm business failure on the person whose money is not available!. Take 100% responsibility for your current actions.

10. Envisage business downturns or challenges:
Be rest assured you will experience challenges in your farm business, failure to accept that is a mistake. No matter how prepared or how informed you happen to be, there will always be a number of challenges. In reality, your income realities might be far through your projections. What do you do? Or a slight mistake on the farm may wipe out your complete livestock, what do you do? That is not the time for you to quit but look for opportunities inside adversity. Work towards solving the problem and move on.

Stay blessed and happy farming!
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