5 Mistakes That Can Destroy Your Farming Business
1. THE MISTAKE OF PLACING PRODUCTION BEFORE MARKETING
Many farmers still don’t know that marketing is more important than production. No doubt, production is important, but what is the use or benefits of producing without market? What’s the use of languishing in the sun for hours daily and having so little gains to show for your labour? For any business to really do well, you have to focus on market first before products. Period!
2. THE MISTAKE OF BEING ABSENT MOST OF THE TIME FROM THE FARM
I know scores of farmers who regretted going into farming because they were ripped off by dishonest workers who took advantage of the constant absence of the owners. My advice to most farmers in all my workshops and seminars is that you should forget about farming business until you can devote your time, energy and resources to it.
3. THE MISTAKE OF DEALING WITH QUACKS
Quacks will stop your farming business if you don’t stop them from coming to you. Who are quacks? They are those who are not qualified to guide you in your farming business. So many ignorant farmers still think they are saving money by using quacks but my years of experience in the farming industry have shown me that they always become losers big time!
4. THE MISTAKE OF QUICKLY GIVING UP
There is no business without challenges. Many farmers are prone to lack of patience. They want the money quickly and so they run into unnecessary problems and give up! The real truth is that there are challenges between here and there in any venture including farming business. The only way to win and keep winning is to develop a thick skin against failures in any form.
5. THE MISTAKE OF UNGUARDED SPENDING
Money is fickle. Money can fly away if not managed well. Some farmers are losing out every day because they are not watching the figures. They think everything cash is money to spend. They hardly plan for reinvesting their profits on consistent basis. This is the royal road to business extinction.