a new enterprise can be one of the most exciting management challenges.
Numerous Agropreneurs have built successful Agro-industries and Companies by
discovering and meeting unmet needs. There are many motives for starting a new
Agribusiness. Some Agropreneur learn from successful family role models. A few
stumble onto an entrepreneurial careers path by inventing a new product/services
and building a business around it. However, the common qualities of success bound
Agropreneur include the following;
Business Planning: This is a good starting point. Agropreneur need a standard business plan for start-ups or existing agribusiness written by self or with the help of professionals. Business plan keeps you on the track of agribusiness terrain and helps source for funds. One of the major tasks of an agropreneur is the
ability to make decision on his/her own which will have far-reaching effects on the
effectiveness of agribusiness. The goals set by successful agropreneur are Specific, Measurable, Accurate, Realistic, and Time-bound.
aspect requires that agropreneur get their businesses
registered with necessary agencies and bodies so as to confer on their
businesses necessary protection and patent. It is also expedient for
business to get unique brand and logo for proper identification and
protection. This protection covers unique business secret or formulae.
These kinds of secrets or formalae are peculiar to different agribusinesses
and such is what is giving them economic advantages. The secrets may be
contained in the products, processing, packaging, brand, etc.
Opportunity Recognition Skills:
To become successful, an agropreneur needs to sight any opportunities lurking
around the corners. Such opportunities include; Absence of particular products
in a certain location, Grants and Loan opportunities, Duty free import of
certain equipments, various Government policies favouring growth of particular
enterprise, opportunity to improve on particular products/services to suit
Willingness to Take Risk:
An agropreneur takes some level of risk when trying to start a new venture.
In some cases, agropreneurs may risk a substantial portion of their own capital
as well as funds contributed by family, friends, and other investors.
Self Confidence and High Need for
Achievement: Self confidence enables agropreneurs to
improvise and find novel solutions to agribusiness problems that might
discourage people who are more self-critical. People with a high need for
achievement have a strong desire to solve problems on their own.
Innovation, Creativity and
Initiative: This is the ability to come out with an idea that
will be new and be able to bring about radical changes in products, services,
supplies, management or manufacture. It
involves ability to begin a plan or task, enterprise or determination.
Distinctive Competition and
Business drive: An agropreneur should know the market
trends, economy state and as well as desire to compete effectively in both
local and international market. A drive is most commonly a factor that
contributes to the growth of a particular enterprise. It can be people, knowledge
or conditions, such as market forces, Government support, that can initiate and
support the activities for which the agribusiness was designed.
Human Relations, Networking and Communication
Ability: An agropreneur must maintain good relations with
his customers/employees/business associates and effectively communicates his message, products or
services to the customers/employees. An agropreneur must admit the fact that
Consumers is king, if he wants to succeed. Most agribusinesses closed down in
short period of time because they failed to identify what the customers want;
they didn’t follow up their customers. The secret to getting good and substantial referrals is dependent upon your communication and relationship with your customers. Networking is key in agribusiness, there is need to connect with like-minded individuals or groups to share ideas, skills, experiences and opportunities. We get networked by attending Conferences and Seminar or even, Agri-trade show. Online platforms also provide great networking opportunity.
Good Knowledge of Agribusiness:
An agropreneur that has a good knowledge of the business he's engaged in has
better chance of succeeding. Agropreneur should subject himself to continuous learning and training.
Ability to offer Quality Products and Services: This is one of the most important determinants of success in agribusiness. Agropreneurs that are offering good products and services remain in business unlike those offering bad products and services. Your bespoke products and services will go a long in increasing your customer base.
Financial Management and Record Keeping Skill: This is another crucial element of success in agribusiness. Simple record keeping is important to business continuity.
It is a well known fact that we are in the information age. Any agropreneur
that wants to excel and compete effectively in the global market must be able to
wield some important ICT tools that are critical to development of the
agribusiness. The importance of ICT in Agribusiness cannot be
overemphasized. Manipulation of some Computer softwares and Applications will
give such agropreneur an advantage over others. Social media site is a good place way to start developing your ICT skill.
Now, some agricultural products and equipment
can be ordered on-line. Agropreneur can followed up Market trends and get any
information about products, services, equipment, Agricultural trade fair,
competitors, etc anytime, anywhere as a result of internet access.
has evolved into a complex
business requiring the
accumulation and integration of
knowledge and information
from many diverse
sources. Modern day machineries and equipments
are automated and computerized and these will require skilled and exposed agropreneur to
manage them all.
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