How These 3 Businesses Can Change Your Life - Business (44) - Nairaland
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3 Businesses You Can Start With 10k In Nigeria 2023 / Can 50K goes for this 3 businesses / 3 Businesses To Start In 2018 With A Laptop And 10k (2) (3) (4)
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 11:45am On Jan 23, 2022 |
Happy Sunday people! |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 6:20am On Jan 24, 2022 |
This One Thing Can Make or Mar The Success Of Your Farm Business This Year If you are a new entrant in the agricbusiness sector or new investor looking to get started ,what I am about to share is very important and to a larger extent will determine your long term success or whether your venture is going to crumbled. This main factor of success is being overlooked because we are always looking at how to increase yield,how to procure the right inputs,how to cultivate etc. As an agro-preneur,farm owners,traders, farmer or you have anything to do with farm business,there is every possibility that you will engage your local community/communities where you farm,or source agroproduce from. Your success largely depend on how you/your business relate with your communities. There are many things to discuss,I hope we can extensively discuss it on one of our webinar coming up soon This what I am about to share is one of the proven operation playbook that have increase revenue for us and can do the same for you by larger revenue margin especially for medium to large scale farm operations. Communities differs from values,cultures, orientation,etc but two things are important when engaging them Many communities are faced with social issues like lack of clean water, electricity, schools etc Focus your corporate social responsibility on providing this amenities for them if you have the means or set aside percentage of your revenue for this. Second,do not leave the sole management of your farm with the locals. This is why we see many farm fail. Over the last few years,I have seen many new entrant make this mistake. They leave their farm in the hand of someone in the community to oversee and manage their farm which allow side selling of your produce and mismanagement of output. The best you can do is to train them,and put them under the management of your trained team. If you don't have a team,then be in charge and,be on ground. Good morning 1 Like |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:39am On Jan 25, 2022 |
2 Ways Farm Business Put Money Into Your Pocket (First One Is Hidden) Just about 4 years ago,we acquire about 4.04 million sqm of farmland in ogbomoso which we used to establish one of our farm estates. After it was surveyed and secured,I paid a visit and I was like “God,how do we get here” Thick bushes everywhere,you can hardly see the next person 5metre away. But something kept telling me “well,we are not using it for housing estate,we are using it majorly for farming” I guess my mind was trying to encourage me to accept the fate. I believe that one day,it will turn to a town or city but I didn't believe the rate of development will be so fast. Like my Dad use to say “ the cities of today were villages of yesterday” The said location is now turning to a town with full social amenities everywhere Many years ago,a potential client from Europe wanted to acquired large expanse of farmland to start a farm business but surprisingly said he is not longer interested in that particular location. I asked him “why?” He said “ the location is undeveloped and bushy” Recently,I did a drone video of the same location and sent to him He was like “wow” He was surprised by the changes that has taken place and he wanted to key in but unfortunately the expanse of land is no longer available in that location If anybody tells you to come and buy farmland inside bush,don't hesitate. It seems our rural side is developing faster than we thought possible as seen from all of our farm estate locations. Apart from appreciation of our land,it is also yielding revenue for WaleAgro and all of our partners in the various locations. First,you have your land appreciate in value and Second,your land keep generating revenue for you till forever Agriculture is truly a double edged profitable sword. This is the right time to plug in!!
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:44am On Jan 26, 2022 |
Why I vow never to cultivate these crops and why you should not also? Two days to when we are suppose to deliver one of our produce to the market; All operations leading to the smooth activities are ready and checked Bagging and packaging ✓ Logistics arrangement ✓ On the D day,the truck driver and the team jet out for the operation. On getting to the market, everywhere was red (the initial price has changed and the new price was at the rock bottom) What do we do? Sell it there or bring it back to the farm warehouse to store? Either we sell or we incur about 15-20% wastage with a lot of unloading activities coupled with stress. Well,we had no choice but to sell at what the market brought. That's one of the scenario farmers/agropreneurs face during selling There is nothing you produce that market would not take up provided it is food. The question most times is not about 'will you sell anything you produce or not" It's majorly about "how much or what better price will I sell this produce?" If I sell a bag of corn at N10K at market A maybe because of the market forces at the time of selling,I can also sell the same bag at N25k in market B improving my margin by N15k on per bag Generally,prices in the market goes up when supply in the market is low and there are produce that are in high demand at a particular time of the year. Plantain supply are normally scarce around Mid August of every year Yam is around April/May Tomato (Feb/Mar) If you don't have indepth knowledge about the market of the crop you are in,then you should invest in processing facilities like dryer or add value to it so that you can be able to keep it for long. The day we took our pepper to the market and sold at rock bottom price is the day I vow not to have anything to do with perishable produce that we do not have proper processing facilities to extend their shelf life That's why you will never catch me with cultivating perishable produce without proper facilities on ground. The forces in the market will also take advantage of you because they know you have no choice than to sell at their price. In 2020,we had buyers falling over themselves to buy our soybeans. I tell you the price I want to sell,if you want to buy,pay money into our account and if you don't want to,I will keep our soybeans till good buyers come by. It won't spoil,it won't get damage because it's well stored; infact the more I keep it,the more the price go up. At the end of the day,all of the focus is about working towards how getting a better price for your produce to maximize revenue.
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:29am On Jan 27, 2022 |
3 important steps you should take if you want to smile to the bank this year (You Won't without doing No 3) I normally thought that I give super attention to our crops,not until when we planted watermelon � one time and we messed it up; because we didn’t give it the regular attention it ask of We didnot do a weeding and insecticide application during the lifecycle. Farm business is an unforgiven venture especially if you don't give it the attention it requires. For those that want to venture into agriculture but have other job you are doing; you might not be on the farm everyday but I have discovered what works. First,employ a hand that's not from or reside in the community your farm is located to avoid side selling of your produce and your inputs. (You can check my previous articles on this for more details) Employ them in your farm but don't put them in charge of critical areas that can determine the success/failure of your farm venture I remember when we ordered some trucks of cassava stems from Benin that has never been grown in this particular community and about a months after I paid a visit,started seeing this particular varieties on the farms of the farmers within the community. Another time,we ordered this fast maturing okra seeds (the ones that takes 2 and half months, usually grown by the Hausas),Before we know it,we have started seeing this particular varieties on farms,the same goes for all of our seeds. We stopped noticing this trends until we relieve this particular guy from handling the input section. Secondly,proper documentation, If you will not give critical areas to those in the community,at least you give it to those outside the community and can deliver You need to have agreement written in pen and paper about what's expected from the hand you employed and frequent follow up This is the second step to take. I was taught in my primary school by my no-nonsense computer teacher (Mr Bello),the term GIGO. He drum GIGO into our stubborn head with cane to the extent that the term stuck with us many decades after we left school. It means the quality of whatever you give your computer determines the quality of data you get out Simply Garbage in garbage The same applies to agriculture The quality and quantity of whatever you plant determines the quality /quantity of what you can get out. About 95% of farm are not mechanized in such a way that you have planter to plant accurately the number of seeds at the right spacing to plant for you. So you need to be physically available during the planting operations to organize your workers so that they can plant the right spacing and have the right quantity of seeds planted on your farm. An acre planted with 1000 maize seed will not give you the same thing as an acre planted with 10,000 seeds. NOTE: You have to be available during the harvesting time to avoid your workers mismanaging your output Your availability both during the planting time and harvesting time is VERY IMPORTANT If you don't have the time for these activities,then the best you can do is to partner with organisation or firm that is into farm management and that's also involved in farm business So,thirdly,you need to be available in critical operations such as planting and harvesting if you want to smile to the bank this year. |
| Re: How These 3 Businesses Can Change Your Life by Schoolboy1030: 2:00pm On Jan 27, 2022 |
Rebuke:This plantains farming is not even up to million to start,well it depends on the size of farm |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 2:32pm On Jan 28, 2022 |
Schoolboy1030:Yes It depends on the farm size |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:57am On Jan 31, 2022 |
It seems 2022 is running very fast When did we shout “Happy new year” January is almost gone already,remaining 334 days in the year. Before you know it,we are in December and we will be shouting “Happy 2023” Time wait for nobody. What are you doing with your goals/plan for 2022? Abi you don't have one. Ours is to maximize and improve revenue for our partners and WaleAgro by increasing the number of acres cultivated. And to mentor/train those interested in venturing into farm business with adequate knowledge. The race is on and we work day and night to make sure this is achieved In short,we are taking massive action every hour of the day so that by December,we will look back and thank God for what we have been able to achieve. What steps are you taking to see to the realization of your plans? Remember, No action,No success What massive action are you taking now for realization of your goals in 2022. |
| Re: How These 3 Businesses Can Change Your Life by ShedrachU(m): 10:45am On Jan 31, 2022 |
I am a professional soil scientist and grower. But it baffles me how most agribusiness person do not look good, bad dress, unfair skin as though agriculture is a poverty thing. |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 9:34am On Feb 01, 2022 |
Land is an asset and you can't do without it as far as agriculture is concerned. Either you own it or you lease it. Like few of the numerous questions relating to farmland I am been asked by those who wanted to venture into farm business “i want to start oilpalm,do you have land for lease” “I want to start soybeans farm,can I get farmland in your farm estate” “I want to start cocoa,can I get land to lease” First,you can't lease land for long term/perennial crop Crops such as cashew,cocoa,oilpalm etc Even if you lease land for perennial crops,you will need to lease it for 15-20 years but where will you see land owner that will lease land to you for that long years? That's why I normally advice “buy outrightly so that you can have ownership right and cultivate anything on your land”. Many years ago,we were looking at acquiring piece of farmland in a thick bush. Remember my earlier post “ If you have the opportunity to buy land in a bush,don't hesitate because the cities of today were villages of yesterday” I don't want to go fully into that details,read my previous post After all the necessary processes done,we bought the land. My team were surprise that we could close the deal very soon,faster than the earlier land purchases. What I did not verbally tell them was that the cheap price was the real thing that make me influence the fast closure of the deal What happened next would be one of my greatest lessons We started cultivation and realized that we had to construct roads,build infrastructures, security spending more than double of the cost of acquiring the land. Then I realized “cheap is costly” Now before I look at price,I look at so many other things.
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:57am On Feb 02, 2022 |
#agricultureislife |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 6:50am On Feb 05, 2022 |
Yam farming is one of the crop you should consider investing in this year. Last year,we started our yam farm estate in Ilorin,kwara state after many years of market research on yam farming and it's value chain and I am about to share our lessons and result. In November 2021,I wrote a widely shared article where I stated that timing is everything in agriculture. Our yam was planted in late into the year,and was harvested in December. We got good yield but not as we wanted solely because of one reason: late planting. This year,we are already started and if you are looking at cultivating yam,you might be late if you don't have your heap or your yam seeds ready by now. We are not repeating last year mistake so by February ending,we should be done with planting. We have started preparing yam seeds for our partners and WaleAgro and planting about to start. With our efforts,right timing and God ,we would have a great Yam year. Right timing is everything in agriculture.
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 9:34am On Feb 06, 2022 |
Happy Sunday my people |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 10:03am On Feb 07, 2022 |
Want to plant and harvest money on trees,read this! A Chinese philosopher once stated that "the best time to plant an iroko tree is 20 years ago,the 2nd best time is now" This ageless truth applies to our personal lives also. Regardless of your past failures,missed opportunities,if you want to change, shape and improve your future,the time to start is now 9 years ago, my eyes were clearly opened to the opportunities in the cashew farm business in ogbomoso. I was not happy because I thought “why didn't I discovered this years later and then it's going to take cashew 4 long years to reach maturity. Nonetheless,we started and looking back now,I am happy we kickstart the cashew farm business then. The cashew that I thought will take 4 long years is now mature and ready for harvesting. The 4 years has come and gone but the money making opportunity started then will continue to yield nuts for many decades to come. The season of cashew is here again and it's time to start harvesting money on the trees. You are 35,40,45years old now and you think cashew,oilpalm,cocoa will take 5 years before you start getting your returns, Whether you start it or not,you will be 40,45 or 50 years old in 5 years and you will regret not starting it 5 years earlier. The best time to plant iroko tree is 20 years ago,the next best time is NOW!
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:11am On Feb 09, 2022 |
The first and important decision to get right that hinges on your success in farm business If you just bought your farmland for cultivation, Well,don't jubilate too quickly especially if you are a newbie farmer and you do not put some factors into consideration before purchase This happened to me and my farmer friends many years ago. I bought 50 hectares and was very happy,ready to start cultivating the land. My farmer friends bought their ranging from 20- 25 hectares at different locations. We were very happy and motivated to start our farm business. Two months into our farm cultivation,we started having series of issues; like cows straying into our different farms, poor road access,lack of adequate manpower. That was the first time we were expose to challenges that's about to stand between us and our goals. At the end of the day,we tried our best to mitigate some of the challenges, and i learnt lessons that would brought about our first farm estate. I thought “What if we acquire larger expanse of farmland where those interested in farming can purchase farmland and conduct their farming business why we provide solutions to the common challenges of security,road accessibility,market, etc that we normally encounter ” and that's why we have our farm estates created. The decision on overall success When I say that we have one of the most secured,accessible, farm estates in Nigeria with friendly people, environment where you can acquire your farmland and start your farm business,with access to manpower,farm equipment, and market for your produce; Nigerians both home and abroad have acquired their farmland from our various farm estates and ventured successfully into farm business.We are located in ijebu-igbo,ogbomoso, Ilorin,apomu. |
| Re: How These 3 Businesses Can Change Your Life by Spechialone(f): 8:33am On Feb 09, 2022 |
Lesgupnigeria: |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 11:14am On Feb 12, 2022 |
This is how to start a 7 figure income farm business According to FAO,about 70% of the population engages in agricultural production at a subsistence level producing most of the food we consume with issues of food insecurity and insufficiency. In developed countries like Brazil,US,only 5-7% of the total population are involved in farming on a large scale and are self sufficient and also able to export their foods to other countries of the world. In Nigeria,we preach "more people should venture into farming" Now,we have more people in agriculture but still have serious issue with being food secured. Less people who is either interested in starting small and continue to scale to a bigger level or want to start on a bigger scale should venture into farming. It is in this Nigeria you would see someone with an acre of land looking to make 7 figures Income. The 7 Figure income is not in the small scale farm,it is in the large farms with efficiency,larger volumes of produce Yes,it's expensive in terms of acquiring land and cultivation but worth it at the end of the day. Our government must stop the idea of giving out few acres to graduate and expecting it to be self sustaining. We have got enough of small scale farmers already not getting us to where we should be. We need new set of few large scale farmers who can feed us and feed other nations
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 8:16am On Feb 16, 2022 |
The silent killer of revenue in farm business nobody is talking about Many experts,farmpreneurs talk about how to increase yield,how to properly manage your farm,how to sell,how to mitigate risks associated with agriculture etc but we are not talking about this enough and the solutions. Over the last 4 months,I have received calls from farmers having issues with theft and stealing A friend lost about N2M to farm theft recently and have heard many losing few millions. Either from stealing eggs, animals or,stealing farm produce on the field Theft can happen either on the farm or on the store /warehouse. It's important to note that it can not be totally eradicated but it can drastically reduced especially if you are cultivating large acres of land. Few of the tips we use on our farm estates Invest in smart alarm system powered by solar I was surprised when a farmer told me they caught a boy in the middle of the night trying to harvest their farm produce after many days of constant monitoring. A motion detector would have raised the alarm; either the boy run away by the shock from the alarm or it alerts the security guard/workers of a strange movement Second,get a security dog I will talk more on this in my Third, invest in smart camera that has remote viewing that you can watch anywhere, wherever you are in the world and also has remote storage. All of these security approaches can save you millions of naira, stress and add to your revenue base every year If you want to setup any of these farm security,we can assist you to Get in touch |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 6:40am On Feb 22, 2022 |
The Major secret you will read today about cassava cultivation in Nigeria I am about to share with you one of the biggest secrets about cassava cultivation this year. We started cultivating on about 20Ha and year in year out,I noticed that our revenue were different with slight difference in our yield. We keep having different revenues from the same farm size due to changes in the market price every season This was exactly our situation for many years before I was able to decode the cyclical nature of cassava and it's value chain. This season,you have a good outing,the next one,the outing is average,the next next it is poor and you have a good one again; so this is how cynical the cassava value chain does. The major reason for this is because when there is low supply of cassava tubers,the demand increase and thereby shooting up the price When farmers sees that this year,cassava price is better,they plant massively the next season, making supply to outgrow demand and thereby the price drop. This cycles of higher and better price has been in every 3-4years 2010 has a good cassava market price Late 2010,2011,2012 cassava price was at the lowest It picked up in early 2013 again. In 2013-2014,price was better Many farmers because of better price that year cultivated massively cassava so from late 2014,2015, 2016,the price drop drastically Those that cultivated around those years experienced poor revenue Because of the poor price,farmers stepped back and didn't cultivate cassava again so the price picked up around 2017- early 2018, Early last year (2021) the price was at the peak before it keep coming down. In the next 3 years,cassava price will drastically drop down because of more farmers planting cassava that will supercede the demand So my advice for anyone who has plan to cultivate cassava this year and sell the raw tubers should not You can only cultivate if you have a processing plant and you have the capacity to turn the roots into garri,flour,ethanol,starch etc If you want to sell the raw tubers,then don't do it. As far as WaleAgro and our partners are concerned,cassava cultivation is out of the radar this year.
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:51am On Feb 23, 2022 |
Letter to agric investors 2022 Dear prospective agric investor, I wrote a letter in 2021 and I am writing another one in 2022 as a reminder to those who want to venture into agriculture. I know you want to make money from agriculture and you want to make it bigThat's a good aspiration which require consistent efforts,time,learning/relearning for you to achieve that. I also know that you might have been seeing or hearing "invest 50k,100k etc and earn 50%,70% in 6months" What would you cultivate that you earn 50% in 6 months;which is about 100% in a year except if you are cultivating weeds. Do not fall for it or create that mindset of agriculture being a 'getting quick,big roi or getting quick rich scheme' and go to invest blindly....I can assure you that disappointment and probably total loss will be the experience. As an experienced farmer, and agro-investor ,agriculture provides a stream of income that may never dry for a lifetime if done properly and not quick riches.Taking the right decision,patience, and consistency is the code of the game. Over the past few years,I have seen people leave their paying job and want to cash out of the quick riches agriculture present Do not leave your job! Your job should be a means to create that streams of income. You cannot create and enjoy the streams of income in agriculture without money to invest. As a graduate looking to start agribusiness,go and look for a job and gradually invest the little resources you are getting into agriculture or you go and start agricultural trading Note that you can't create streams of income from agrotrading but it can give you income to leverage on to start your farm business properly. Today alone,I have received more than 5 calls of people seeking advice/remedy that made the wrong investment because they are looking for 70% ROI in 6 months It's better to be informed now and take necessary precaution than to make wrong investment and be seeking for remedy This is my message for those that want to invest in agriculture come 2022 Have a blessed day
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 1:37pm On Mar 02, 2022 |
One major lesson i learnt acquiring farmland for agriculture Farmland is an asset and will outlive you. Either you acquire from individual,firms,families,communities etc, there is need to do proper documentation with the human/s or firm you are buying from. After years of land banking thousand of acres of land from different states in Nigeria,few lessons i learnt which I am going to hare at the later part of this post. Your children's children might be a beneficiary of your landed asset after you have benefited from it and first let me share the documents you must procured to authenticate your ownership status 1.Deed of Assignment/transfer document detailing the number of plots/acres bought,the individual/firm you are buying from, the cost of the land etc 2. Registered survey documents (Redcopy) Legally,it's very difficult to contest the ownership of your land if you don't have a registered survey document of the land. And that's why I advice people to register their land with the ministry of land of the states you are acquiring your land after obtaining the deed of assignment. Cost of Redcopy differs from states to states The south western states seems to have higher cost compare to the Northern ones except Abuja and very few others but you can check with your surveyor or from ministry of land of the state you are acquiring the land. 3. CofO After getting your registered survey document,you can now start the process of obtaining your certificate of occupancy According to the land use act of 1978,you have 99 years tenure on the land. You can as well use land with CofO as collateral for loans Few lessons have been learnt over the years of acquiring farmland which has guided our process of acquisition 1.No document,no land It's not the person that first start working on the land that has the land,it's the person with document. 2. Farmland is not an end itself,it's a means to an end which means after acquiring your lands,you need to put it into productive use That's why we will be cultivating most of our lands this year for them to start generating revenue for us. Want to also acquire large acres of farmland for cultivation,and need consultation on how to go about it, kindly get in touch.
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| Re: How These 3 Businesses Can Change Your Life by Nicoswit(m): 7:32pm On Mar 02, 2022 |
Lesgupnigeria:so if i buy a land, it is mine for 99years not forever |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 10:38am On Mar 05, 2022 |
Nicoswit:Yes for 99 years and not forever provided the land has CofO |
| Re: How These 3 Businesses Can Change Your Life by Nicoswit(m): 11:09am On Mar 05, 2022 |
Lesgupnigeria:cofO certificate of occupation? |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:21am On Mar 08, 2022 |
Nicoswit:Yes |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:21am On Mar 08, 2022 |
My first bitter lesson as a farmer and agro-investor in Nigeria One of the things that makes farm business fail is biting more than you can chew especially when you have great interest in venturing into agriculture Many want to cultivate 200 acres of land but don't have the financial,human resources to cultivate 50 acres. Cultivate the number of acres you have the resources to do. In short start with what you can finish. If you start and you are stuck in the middle of cultivation due to financial incapabilities,you would have wasted the initial money invested and at the end of the day would not be able to get the returns. You can acquire 200 acres and start cultivating in 50's or 40's every year according to your financial capacity and structure you have on the farm There are many abandoned farm,don't join the numbers. Have a blessed weekend |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 8:07am On Mar 14, 2022 |
The only one thing stopping you from where you are now to where you want to be is your inability to TAKE MASSIVE ACTION You want to have additional source of income through agriculture, Take action! You want to be self employed by starting your own farm, Take Action! You want to generate a 7 figure income by scaling up production,Take Action! Don't let challenges be it financial,economic, stop you from talking action Start from where you are and continue to take actions everyday. The year is running out fast If you want to go to another level start with taking action. Only taking massive action everyday can take you to your next level of growth.
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:31am On Mar 16, 2022 |
Agriculture is a goldmine and at the same it is filled with risk-mines that can blow your operation up and mess you up. As we begin this farming season and prepare for land cultivation,there is need for adequate risk management. Many years ago,I was busy pressing my calculator calculating millions WaleAgro and our partners would make from our almost-harvest-ready plantain plantation when I received a call from one of our farm workers "Hello sir" "Our farm is on fire" What!!! The farm is on fire? Who put fire? How did it happen? Which area of the farm? Many questions were running on my mind simultaneously and I was so confused. The fire was so much that it took volunteers from the local communities that share boundaries with our farm to put out the fire. Trucks,cars were used to ferry water to quench the fire At the end of the day,about 70 acres were destroyed by fire Unfortunately,we didnot insure the farm and have to pay for that mistake. That taught me a lesson "Always insure your farm whether it's a prevalence occurrence there or not,always prepare for unforseenable, unexpected and uncontrollable outcome" That's the only way to manage risks It saves you time and resources and also you are able to bounce back quickly if anything goes wrong. And it's just between 2.5%-5% of the cost of cultivation or cost of livestock you are insuring and % insurance charges also varies from one insurance company to another You want to sleep and sleep well in the night,not thinking of anything going wrong with your crop/livestock. You also don't want to have high BP when you are told that your farm is on fire because you know that your farm is insured and be compensated to start all over again. Insuring your farm is a major risk management tool to manage eventualities like flooding,climate change,fire,act of God etc that might come up during your way of making money in farm business.
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| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 9:51am On Mar 21, 2022 |
Two things I learnt from over a decade of engaging in farm business and what you can learn too Farm business though promising can be one of the hardest venture you engage in. You have multiple of risks ,the one in your control and the one out of your control to tackle; Climate change,acts of God (flood,fire, storm etc),market instability, yield ,disease outbreaks etc If you fail,learn from it but don't throw in the towel Every failure is a stepping stone to a higher breakthrough Don't see failure as the final verdict on any activities you are engaged in. When you fall,dust yourself up,adjust, learn from the situation and start all over again Though,I must admit that it is not easy to start again but you must do it nevertheless Every successful agropreneurs I know today have had the urge to give in but the vision of the end goal seems to be stronger than the immediate urge. I have had my own share as well. In 2011,I wanted to give up, a good friend encourage me to keep at it. Also in 2016 as well,the urge came when I thought we were not pushing as much as we should,a mentor encourage me and like they say,the rest is history two things I have learnt First,surround yourself with positive people Second,when you have that urge to give up,don't do it because you are about to turn the corner to your breakthrough. Anytime the urge come is a signal that something huge is about to happen positively Now with tens of thousands of acres on our farm estates across different states,I am happy I didn't give up. Although we still have a long way to go Giving up wouldn't have got us to where we are now. There is always light at the end of the tunnel So NEVER GIVE UP! |
| Re: How These 3 Businesses Can Change Your Life by Lesgupnigeria(m): 7:05am On Mar 22, 2022 |
Due to prevailing economic situation in the world right now, logistics challenges,increase in prices of input prices,increase in transportation costs are some of the things that will have direct impact on farmers and agro-preneurs Prices of ploughing with a tractor is already on the high side; from N8,000 to between N12,000-N15,000 depending on location due to increase in price of diesel Even before Russia-ukraine war started,we have seen increase of inputs such as fertilizers,herbicides etc go up. As the two heavyweight in potash production (the raw materials for fertilizer production) continue their war,we will see low supply of fertiliser which will ultimately affect yield (low production) A bag of fertilizer around August 2021 was around N10,500 - N11,500 Early this year,it skyrocketed to N15,000 and I am predicting,we might have upward movement in price. So as a farmer who heavily depend on some of this inputs,how do you save money without compromising on yield? The basic answer is finding alternative that can be locally sourced and used here. On cultivation with machineries,kò sí à bù jà lóró òpe (there is no shortcut in climbing palm tree); you have no choice on this one,but you can add the cost on the cost of your produce when selling. Instead of using fertiliser,you can substitute with innoculant or organic manure. Mixing with the soil during ploughing or harrowing is the best way to it Pesticides can also be substituted with neem. Fortunately,we have plenty of those neem around us here and are very less expensive with access to the raw materials. You can also buy these inputs in bulk now and store before price doubles again during the planting season. Generally this year,prices of food is expected to go up If you can successfully substitute some of these critical inputs without compromising on the yield,then you should have a good outing. |
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