Entrepreneurship Training and Business Planning
Assessment
- Rethink your concept and weigh the alternatives
- Assess skills and commitment of all involved
- Identify all available resources
Research
- Investigate the potential markets
- Identify the potential risks
- Locate expertise
Planning
- Develop business plan with strong marketing component
- Provide for regulations and legalities
- Plan for growth but prepare contingencies
Implementation
- Select effective financing
- Focus on cost-effective production
- Maintain a functional accounting system
- Implement marketing strategies and tactics
Involving Family and Community
- Complementary Use of Family and Neighborhood Labor
- Provide attractive income opportunities
- Design schedule to allow for off-farm jobs
- Organize tasks to utilize best skills of each worker
Ergonomic and Safety Considerations
- Design tasks to minimize repetitive physical strain
- Determine age-appropriate responsibilities
- Emphasize worker safety and satisfaction
Youth Opportunities and Development
- Recognize local youths with particular skills
- Pair them with older workers that are willing to teach
- Provide additional training and learning opportunities
Sense of Joint "Ownership" and Responsibility
- Provide opportunities for suggestions and brainstorming
- Develop appropriate incentive program or "piece of the action"
- Acknowledge contributions and reward stewardship
- Encourage employees to develop complementary enterprises
Entrepreneurial Networking
- Encourage collaborative creativity among those within your own company
- Discuss production technology with others having similar products but different markets
- Discuss business techniques with others in local area producing different products
- Enroll in entrepreneurial training or join national organization
Complementarity of Businesses
- Learn how local businesses can provide inputs or markets for each other
- Encourage start-up of businesses that can utilize by-products as inputs
- Support local suppliers and buyers when possible
Selected Resources
NxLevel. The Agricultural Entrepreneurs Program module is a SARE-funded project offering training and materials for farmers seeking marketing opportunities. For information contact 800-873-9378 or visit website www.nxlevel.org.
Developing a Longer Range Strategic Farm Business Plan by Kenneth H. Thomas (NCR-610A). Part I of a six part series that helps farmers address business management issues. Cost $8. MWPS, 122 Davidson Hall, Iowa State Univ., Ames, IA 50011-3080, phone 800-562-3618 www.mwpshq.org/610A.html
AgVenture Services Business Plan Kit, by Florida Dept. of Agriculture. Information about turning agribusiness ideas into value-added business enterprises. Cost $50. Contact Les Harrison, Division of Marketing and Development, 850-487-4322.
ATTRA's Marketing & Business Series. Publications that assist
in agriculture marketing. Contact 800-346-9140; www.attra.org/attra-pub/business.html
