Every farmer’s dream is to be successful in his/her farming operations and to make profit through them. Meanwhile, not a lot of farmers tend to achieve this because of certain factors we are going to be discussing about today.
As an existing farmer or intending farmer, your main aim and objective when trying to venture into farming business or currently operating a farming business is for you to be successful at whatever crops or animals you produce and farm.
Now let us look at those factors that hinders the progress of many practical farmers out there towards their quest of owning one the most successful farms in their countries or regions.
First and Foremost, your decision determines your success rate in Agribusiness/Farming which is why I strongly encourage that before venturing into farming, you need to first understand those necessary factors you need to consider before venturing into your farming business as explained below:
1) Your Available Resources
This is the first question that any intending farmer needs to understand and answer before going into farming especially as a commercial business.
Here you need to understand what resources that are available to you at hand and what they can contain with regards to your farming plans.
For instance, if you have one (1) Acre of FarmLand within your reach, you can then plan your farming business using the area of land available to you as your guide.
With that in mind, you can then divide the sections of your farming plans to suite the total space of available land.
Let’s say you want to own an integrated farm on the one acre of land for instance, Then you can share your farm into sections like for instance: Poultry = 1 Plot, Fish Farm = 1 Plot, Pig Farm = 1 Plot e.t.c.
2) The Location of Your Available Resources
The location of your farmland goes a long way to decide what farming category you can venture into.
For example, if your farmland is very close to a populated region/location where many people reside, then you cannot use the said location for some farming businesses like poultry farming, fish farming, pig farming and other aspects of farming/agriculture as the odor will cause nuisance to your neighbors and force them to report you to some relevant authorities that may take decisions that might hinder the success of your farming business.
Meanwhile, some farming operations like crop farming and some other animal husbandry operations can be carried out on the same farmland as they don’t constitute nuisance to the neighbors due to their awful odor or smell.
That’s why when selecting your farm site, you need to consider the location that will be favorable for the farming business operation you want to venture into before setting up your farm to enable you become successful at what you do.
3) Time Management
Here you need to figure out how much time you have to offer to your farming business project as some aspects of farming requires more time than some others.
Poultry farming, Pig farming, Fish farming especially hatchery section and some others requires lots of time for proper maintenance and management.
Therefore you need to first understand the amount of time you have to spare to enable you manage your farming business properly and effectively.
4) Available Capital
The amount of capital you have determines at what level you can start your farming business either as a small scale or as a large scale production.
Meanwhile despite the amount of capital you have, you can always start your farming business within your reach.
If you have a small amount as capital, you can start little and grow your farm gradually into the level of your dream farm.
Therefore, I strongly encourage you not to allow the amount of capital you have at hand determine whether to follow your dreams or not…. Start little, Focus and Grow your Business.
At the same time, if you have enough capital within your reach then you can also start on a large scale to enable you cover more productions, more sales and more profit.
5) Who your End Users are
Every farmer does that for a simple reason which is to produce, make sales and make profit through his/her products.
Meanwhile when it comes to making sales, it only has to do with “buyers” coming to patronize you and buy your products from you.
Therefore there is every need to first understand who your potential buyers are and what they really want.
Let us take catfish farming as an example: Assuming you are a catfish farmer and your potential buyers prefer buying your catfishes at the “Table size (Less than 1kg)” than as “Adults (weighing over 1kg per fish)” then that automatically defines at what age you need to raise and sell your fishes to your customers to enable you make profit through your sales.