Maximising Agribusiness Opportunities by Young Entrepreneurs

Excerpts shared by GLA Seniors

Since inception, till now, technology has not found a proven substitute to food, hence, making Agriculture indispensable. World Bank article on food security, 2016 reported that for Agriculture to be sustainable, there is need for young minds to bring innovations into Agriculture and transform it.
The greatest mistake any young agripreneur can make is to perceive farming as our fore fathers saw it. Farming in this generation requires right orientation of seeing Agriculture as Agribusiness that is capable of building a career and not just to feed family and meet petty needs. Agriculture is profession that brings fortune. Right orientation and proper understanding of who you are will always give you a competitive advantage in Agribusiness. If you envision yourself as a mere farmer, you will be limited in your business and creativity to add value to whatever you produce.
What separates an agripreneur from a farmer is the ability to think outside the box by adding value to whatever you produce. Another view to agripreneurship is digital marketing. An ability to maximize the benefit of ICT in terms of social media and networking platform will also give you a higher advantage because you can be certain that even before going into production, you already know your target market. Many farmers go into farming business not knowing who will buy their products. Hence, maximizing the agribusiness opportunities will require the following steps by the agripreneur;

I. Think Globally and Act Locally on your Preferred Agribusiness
There’s no doubt that opportunities in Agriculture is limitless and profitable, but clear understanding of your preferred Agribusiness is paramount to you so that you don’t get frustrated out of your venture. Having identified your preferred Agribusiness interest (specific crop production, animal production, agricultural services etc), there’s need to think it through globally by researching, asking questions from experts and if possible get a mentor that could guild you through your starting up. This will help you not to run into the same errors many young entrepreneurs and their startups run into. Then you need to act by setting out to compile information acquired on your preferred Agribusiness into a proper business plan.

II. Preparation and Planning
Having compiled the necessary information on your preferred agribusiness, get back to your drawing board to plan out your Agribusiness step by step. Your detailed business plan should document your source of finance and target market. Business plan template are available online and with the help of your mentor, you can be certain of having a standardized business plan. You can also hire an Agri-Consultant to do it for you.

III. Get Ready to Soil your Hand and Learn on the Job
The best way to make it as an Agripreneur is to get involved. Don’t practice social media agriculture. As you get involve in whatever operation, you will be learning on the job and this will make your workers believe in your leadership and not toss you around as a young Agripreneur. You can also get involved by going to work on a senior person’s or mentors farm or operation. Even though you might not make money for a few months, be sure that you will learn real-business skills that you need to start off your own business

IV. Your Agribusiness is your Life, Take it Seriously
If you love what you do, you should take it seriously as a popular saying goes “where your treasure is, there your heart lies”. So there’s need for close monitoring and supervision of your investment. People will always want to take advantage to exploit young Agripreneurs, but with close monitoring it can be reduced minimally.

V. Be on top of your Game
Be at alert. Respond to situation as soon as possible before it escalates and keep developing yourself on new technologies and information about your Agribusiness subject area. Remember, competition is inevitable, so keep bringing innovations into your Agribusiness to maintain your market and expand.
If you need a mentor, reach out to us at GLA, and we will work with you to be matched with an expert in your chosen career.
Until the next post, keep improving yourself….never give up. You’re in the most important profession in the world

Author: Kolayemi Olumuyiwa

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