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 I repeat, your agribusiness must be a solution to an existing human problem or need 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.
Sourced from – https://www.facebook.com/pages/Kenyan-Youth-in-Agriculture/