1. Start your business before you retire:If you are still working, dont quit your job until you are fully prepared in every aspect to start your farm business. It is better to start your farm business part time while you are still working; every business has challenges and a learning curve. It is interesting to know that in the Bureau Code of Conduct for Nigerian civil servants, the only PP (private practice) allowed isa griculture. Starting your agric business after retirement might be too late. Honestly, it is too late! Organisations should assist employees to plan for retirement by organising pre-retirement training programmes. CUAD offers a well packaged pre- retirement agric training programme for organisations.2. Consider your environment: Your immediate environment might also be important. A small farm holder should consider if there are people around who could afford his products. For example, I met a farmer in a village in Oyo State who was into catfish farming; he invested heavily on catfish, but when the time to sell came, he couldnt get buyers for his product. Why His output was too much for his environment. The people in his environment could not afford his product, so he had to sell at a loss over a long period. If your environment cannot absorb your output, make plans to take to distance markets.3. Product knowledge: Adequate information on your farm business cannot be over-emphasized. . Dont be afraid to ask questions from people who are already in the business. Gain the advantage of learning what the worst problems are based on the experience of those who have been there. Attend seminars and workshops, buy and read books. Remember, information is power!4. Interest: Your interest in your proposed farm business is very important. If you dont have a slight interest in raising animals or growing things, please dont go into it. Your interest might just be in distribution of agricultural products or processing. Discover the aspect of agric that you want to be involved in and start from there. For example, if you want to sell smoked fish, you really dont have to have a fish farm to do that, you can buy from fish farmers and smoke to sell.5. Know your market or create your market: Before you start your agric business, your target market should be well defined. The questions of who do you want to sell to, where are your buyers And at what price will they want to buy should be answered before starting your farm project.Dont produce what you are not sure people will buy. You can also create your own market, especially if it is a new product. I started raising Japanese quails last year and selling the eggs was a problem, so I started giving out the eggs to friends and neighbours free of charge and teaching on the importance of quail eggs. Today, the story has changed; we cannot cope with the demand for the eggs.6. Budget money for publicity: A lack of proper budget for publicity is a mistake in farm business. Remember your farm produce is a product. Immediately you start your farm business, begin to tell people about the product and advertise it.7. Create multiple streams of income: Grow or raise more than one thing. A farmer should grow more than one type of crop. Two or more types of crop is advisable. Failure in one can be covered by success in the other. A cocoa farmer can decide to have a snail pen under the cocoa trees and also plant some yams and vegetables. Varieties create income for farmers round the year.8. Make professional friends: Make friends with farmers and organisations promoting agriculture. A link might just be all you need to sell your products.9. Dont be an absentee farm owner: Be part of your business. Visit your farm and be actively involved in the day to day running of the farm. Dont abandon your farm to a consultant. Always remember it is your money. Never blame your farm business failure on the person whose money is not in the business!. Take 100% responsibility for your actions.10. Envisage business downturns or challenges: Be rest assured that you will experience challenges in your farm business, failure to accept this is a mistake. No matter how prepared or how informed you are, there will always be some challenges. In reality, your cash flow realities might be far from your projections. What do you do Or a slight mistake on the farm may wipe out all your livestock, what do you do That is not the time to quit but look for opportunities in the adversity. Work towards solving the problem and move on.Stay blessed and happy farming!
Click here to read full news..
