Business plan development is crucial for a success of any agribusiness. A
business plan is a document that supports an enterprise to plan growth,
seek funding, and monitor performance over a period of time. An
agribusiness plan is the road-map to a success in agribusiness.
THE DREAM: Your dream is the most important thing in agribusiness
success. The dream shows where you are going and how you want your
agribusiness to be in future. Write down the dream in details in order to
remain clear and focused as you work on your agribusiness idea.
BE ORIGINAL: Your agribusiness must be a solution to an existing human
problem or need for it to succeed, and not a mere imitation for it to
succeed. Take care and identify gaps to address and you will not
desperately ask for market the last minute for your goods and services,
common with starters in Agribusiness. Every human problem is a business
opportunity. Business opportunities are as many as human problems. Be
unique.
EXPECT TOUGH TIMES: There are times when things get tough in every
business and agribusiness is no exception. Focusing on the dream will keep
you going when things get tough as you wait for better times. The dream
will drive your passion and motivate you to act to achieve it. Remain clear
about your agribusiness idea and stay focused on achieving your dreams.
BREAK DOWN THE DREAM into manageable portions. Being
overambitious will lead to frustration and discouragement. Write down
5-10 things you need to do in order to realize your dream, and they must be
simple, measurable (Quantify to enable monitoring of progress) achievable
within your resources and abilities, setting a time deadline for each.
TARGET CUSTOMERS: Find out who’ll be your target customers (e.g.
households, hotels, processors, Schools, hospitals etc) what product/
service they need and of what quality.
COMPETITORS: Find out who’ll be your competitors their strengths and
weaknesses. Take advantage of their weaknesses by offering what they are
not offering the customer.
PREPARE EXPECTED INCOME AND EXPENDITURE BUDGET for
your agribusiness, and determine how long it will take to recover the
capital invested.
FINANCE: Lastly decide where money will come from and how much you
will need.
Source:Kenyan youth agriculture
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