Businesses don’t fail, it just people who fail to make business successful. People fail because they fail to do certain things that they ought to do. The farming industry is replete of many farmers who have given up. Let’s quickly explore the six vital reasons why they failed.
1. They are absent. Absentee farmers are always likely to fail. To succeed in farming, you must be around your farm most of the time one way or the other to monitor the farm activities.
2. They don’t keep proper records. Structures and order usually bring increase. What you don’t measure may not grow and may even die.
3. They do it alone. Those who do the farming business just by themselves without meaningful and proper interactions with farmers that matters will pack up sooner or later. No one can succeed alone. A smart farmer knows that there are webs of interactions with farmers, vets, nutritionists and other notable professionals that will make farming successful.
4. They like cheap inputs instead of going for quality. A cheap mentality at the expense of productivity will always lead to frustrations. When a farmer is fanatical about cheap inputs, he is digging his business grave.
5. They bite more than they can chew. Some farmers, in a bid to make it big fast will take on more than they can handle financially and technically. And of course they will crash!
6. They focus more on work than science. One Israeli prime minister once said that agriculture is 95 percent science and 5 percent work. When a farmer focuses more on activities than the laid down scientific obligations, he is bound to fail.