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SEVEN PRINCIPLES OF SUCCESSFUL AGRIBUSINESS



Success is a critical feature every agribusiness aspires to have. Success in business is necessary for continuity and sustainability. Some businesses didn’t grow beyond where they started because they have failed to learn from successful agribusinesses. Danny Klinefelter, Member of Granular's Industry Advisory Board highlighted seven (7) principles of success he has observed over time, which is applicable to successful farms and they are;
1. The only truly sustainable competitive advantage is the ability to learn and adapt faster than your competition.
2. Strategic management is the ability to anticipate, adapt to, drive and capitalize on change.
3. The best organizations spend as much time analyzing with the need to stop doing as they do evaluating new opportunities.
4. The most successful businesses are learning organizations. This means that everyone in the business needs to recognize that someone, somewhere, has a better idea or way of doing things, and
they need to be compelled to find it, learn it, adapt it, and continually improve it.

 5. Success requires continuous management improvement at a rate set by the leading edge of your competition and not by your current comfort zone.
6. The main difference between top 10% and the rest of the top 25% is their timing, in terms of when to enter, expand, cut back or exit; whether it’s an investment, a marketing decision or a business activity.
7. The future will always belong to those who see the possibilities before they become obvious to the typical producer.