As the biological beings that we are, we will always need a means of sustenance through livestock or crops and plants grown out of the earth. As such, agriculture would always be incredibly important to humans regardless of the generation. However, despite this, it is still a bit of a challenge to run profitable farms in Nigeria and the world at large.
For many farmers and perhaps you as well, this can be quite the thinker considering that humans would always need food. However, in reality, the reasons aren’t so farfetched. Farming is a necessity but, just as much as that is so, it is also a business. This means that to run profitable farms, you’ll have to put conscious effort into that endeavor.
Thankfully, you don’t have to walk this journey alone because there are others who have gone before you. These people have experienced the terrain and understand how the food and livestock market works and how they can best leverage it to make a profit. We took our time to study them and find out some of the things they’re doing that you should be emulating. They are:
Like we said earlier, farming is a necessity for human survival. But, it is also a business. This means that for you to run profitable farms, you must conduct adequate market research. You see, you cannot simply go into the farming of one crop or rearing of an animal because someone else did it somewhere and it worked for them.
While you might be tempted to think that the key to their success was in the animal or crop they chose, in reality, it probably wasn’t. It’s more likely that that farmer was able to understand the market properly as well as all the intricate systems that guide it. Afterward, s/he then tailored their decisions and strategies in that line to get the best results that are leaving you envious today.
Having made the initial statement about farming being a business, you should be able to understand why this is important. Even with your market research, you must have a defined business plan for your farm. Unless, of course, you’re only farming for personal purposes and you don’t have any interest in selling anything to anyone.
Otherwise, you should carefully outline everything you want to achieve with your farm as well as how you want to achieve it. Your business plan should also contain your plan for receiving investments for your farm or as applicable. It should detail the milestones you hope to cover as well as the business decisions that would follow those milestones. Many people are tempted to simply keep the business plan in their heads instead of writing it down but this is hardly appropriate because you’re likely to forget. So, instead of doing that, write it down and it would serve as a template that’ll guide how your business runs and operates.
In every farmer and business person generally, there is that undeniable urge to simply come in with a bang. Yes, you want everyone to know that you provide only the freshest tomatoes and you want everyone across all 36 states of the country to know by experience. These are lofty and admirable goals. However, for a beginner, they’re not very realistic.
The most profitable farms across the world understood this in their early stages and simply started small. Rather than try to sell a fruit to a thousand people, they simply tried selling to one. You could adopt this same attribute and you’d be surprised at the wonders it will work for you.
Essentially, if you must succeed in your line of agricultural work, it is incredibly important for you to diversify. It will help ensure that income is flowing in from multiple places and even if something goes wrong with one area, you’ll always have something to fall back against.
Your market research from earlier should’ve shown you the crops and livestock that would thrive under your peculiar circumstances. In that case, it wouldn’t be the best idea to simply ignore those crops and livestock without at least trying to get your hands on them as a farmer.
Running a profitable farm might seem like a herculean task but it really isn’t. You simply need to do your own research and follow the footsteps of those who have done it before you. With this piece, we’ve already done about 50% of the work by doing the research. Now, you simply have to implement them.