What it takes for your Farming Enterprise To Become Profitable
Farming Is a very profitable and productive Business, anyone can achieve it and there is no restrictions to being successful when it comes to farming Business however you need to think outside the box to remain in the box. Gone are those days were people stick to one pattern and culture route of farming, You have to think like a modern tech farmer and not like a traditional farmer. To be successful in farming, you have to ensure you create what works for you and not what works for others. Back then what works for others was based on assumptions, farmers didn't go to school, they learnt farming through family and friends and studied how to tile the soil and how animals and livestocks survive on their own.
Many new farmers are always struggling simply because they follow passion rather than viewing the farming business from a different perspective or as a career. Whatever ignorance stopping you from getting into a successful farming Business can be unlearned and relearned.
Now let's take a deep look at the steps and methods used to improve a successful farming Business.
Things to do to become successful in farming.
Know your Market And Do your Due Diligence on your Market.
As a farmer, the very first thing you should do before you begin a particular farm Business is to know your Market and do a market research, many individuals make the mistake of not knowing their market and end up loosing lots of money simply because they didn't do a market research, you are bound to fail when you rush into farming Business without any validation of the market you are entering, as you may know, there are varieties of different species breeds in both crops and livestocks hence you need to select from the list and be particular about it, these will give you an insight on your the market you about to enter and the right seedlings or breeds to purchase.
Don’t imitate your neighbors or choose to grow what they grow simply because it's working for them, your decision should be based on your research, do your own due diligence because competition kicks in, there's no friends in business and the only way to stand out, is by lowering your prices. However that's an example of the best situation, the worst case scenario is based on the marketing, dictating what price you get.
Nobody is ready to lose control of how they price their commodities. that being said, what you will get when you fail to look for a market upfront. You will find yourself payinf for the consequences by squeezing your margins dry. To avoid such stories that touch the heart, begin by approaching all probable market outlets about your farming ideas before you choose an enterprise based on the feedback you get from them. That way you will be able to select a market based on the needs of the market.
Make Sure You Choose The Right Crop/Animals
When it comes to selection of Breeds in Animals you have to make sure you know the exact species you want, some animals differs in their feeds and care, If you want to optimize on your probability, make sure you go for the right breeds. If you are a grower, ensure you Choose the right crop to plant as well because that is the first step to optimizing farm profitability.
No matter the kind of market you find yourself, consumers will demand more than one enterprise. As an agripreneur under such circumstances, you will be left with a decision on what enterprise to select. Just make sure you make your selection based on the one that has a higher market value.
The reason why you should take this very serious is because the cost of production is usually of the same mutuality in various enterprises. Take example, if as a grower you decide to grow tomatoes and hass avocado you will require a land for both, the same land preparation, and same operation cost for both the tomatoes and avocado. But the difference is determined by how the market values a given crop/animal
Make your plans Ahead
Planning is very essential in all fields and anyone who fails to plan, plans to fail.
It’s no doubt that all professionals have plans – For example, doctors follow a treatment plan, airline pilots follow a flight plan, while soldiers follow a military operation plan.
Although we can’t guarantee your successin the farming business and as a matter of fact no one can except you thrive and remain patient however with a good mapped out plan you can dramatically increases your probability of success in your farm. One of the reasons why majority of farming ideas no matter how great or big never live to see the light of day, is simply because they neglect this vital step.
Having this in mind gives you a sleek advantage over your competitors. When you take your time to map out a well detailed farm plan, you are going to save yourself a whole lot of time and frustration trying to figure what to do next.
Regarding any other agricultural produce, time is precious and you cannot afford it. Given the perishable nature of most horticultural produce, you will be messed up if you lack a plan of action.
Diversify Your farming Business
If you are a Poultry farmer, I wrote a content on how to expand your Poultry farming Business separately, you can check it out here.
However when trying to expand or diversify your farm Don’t try to specialize in it because There are some other instances where specialization is paramount, but if you want farm profitability eagerly, you can’t afford to specialize.
There's a popular expressions that goes like “Don’t put all your eggs in one basket.”
Let's say for instance, you are growing passion fruits for income, it could be a good idea to intercrop them with other vegetables such as, spinach, strawberries, and onions
These intercropped which are short-term crops are likely going to help you to earn extra income before your main crop.
Remember you are following a Plan
Starting a farm of your own is can be very fascinating in a way which gives you the ability to control and possibly earn an extra income all at the same time.
However Farming can be very risky, challenging, and even disastrous. Farmers and agropreneurs are faced with unpredictable situations, such as crop disabilities, diseases and market fluctuations. One year may produce a bountiful harvest, while another may yield nothing but devastation and little or no income due to the market trend or climate change.
This is very common with the business of agriculture. Hence, when you are left in such situation, the alternative for you is to switch plans.
some challenges may be needing a change of plans, but remember to stick to your plan and learn from your mistakes. It’s all part of the process which eventually leads to farm profitability, you either learn during the process or you earn from the process.
Invest in Yourself
While you thrive for your business to become successful you also need to invest in yourself continuously by learning new skills and techniques in farming which can enhance your knowledge and diversify your choices.
You don't have to be perfect to be great but while your farm is running don't ever stop learning new things, ask questions if possible get a personal agronomist and agriculturist who you can confide in.
This will enable you understand faster, whenever a similar situation occurs you can easily remember how you handled the first one.
worry less over learning the ins and outs of the marketing as with a good business plan you can easily outperform your potentials.
Don’t Take Short Cuts
Agripreneurs have a vital role to play when it comes to the protection and integrity of the industry to restore faith in the quality of food standards. Taking short cuts will destroy the whole logic of protecting the industry’s integrity.
Compliance to the quality standards and other farm operations should not be neglected. So to ensure the safeguard of your farm profitability, you need to stick to these standards.
Keep Records
Always Make sure you keep current and accurate records. Pay attention to details. Know where your money is consistently coming from and how they are spent. Storing receipts in a shoebox and waiting to post figures at the end of the year is not a good idea for recordkeeping system.
Good records will help enhance and facilitate your cash flow as well as the estimation and profitability of the farm
Business.
Also read Challenges farmers face in Africa
Ensure Food Safety in Mind
Be transparent with what you are rearing or growing because they will be eaten by human and health is wealth. If you grow poison and dangerous animals and food in your farm it will reduce your quality as a farmer and makes food unsafe. The only way to make sure that you are growing safe and high quality produce, is by following the best agricultural practices this will keep your customers coming and referrals will come in.
Internationally producers and consumers are adapting the practices because It’s not just a requirement but an important component in creating a sustainable food safety. Consumers will pay you more when you are accredited and certified against such standards.
Seek Help
Remember that no one is perfect and anyone is bound to make mistakes when it comes to farming. Therefore there is absolutely no reason why you shouldn’t seek for help or advice especially when you need it. Many people, including Efarming Africa Community, are happy and ready to help agripreneurs out anytime.
Conclusion
Farming takes a lot of patience and endurance to enjoy the profitabilities, if you can maintain the basic principles, you'll end up becoming so successful in your farming career.
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