What is A Successful Agribusiness?

A successful agribusiness is that which is performing to its expectations/objectives and giving good profit returns. A number of factors are essential to making a successful agribusiness - availability of capital, market opportunities, suppliers of inputs and availability of other resources and good business planning are all essential ingredients to success in business.

In summary they include:

1.  Pursuance of a good agribusiness opportunity
2. Good business planning
3.  Availability of adequate capital/credit facility
4. Management ability/skills
5. Use of modern business techniques
6. Availability of adequate markets

Success in agribusiness is a personal responsibility as much as the external environmental factors may have an influence. Successful agribusinesses we see around never dropped from heaven! They are a result of great initiatives, effort and a commitment to achieve in the midst of all odds. You must be ready and proud to stand on your own and pursue what you belief is a journey to success.

This will require:

• An eye for opportunity
•  Appetite for hard-work
• Discipline
• Independence
• Honesty
• Creativity
• Experience
• Self-confidence
• Adaptability
• Ability to tolerate stress
• Thirst and focus on profit

All the above factors sum into what I popularly refer to as the “business success formula”: BS = A x M x O where, BS is business success, A is ability, M is motivation and O is opportunity. What this formula implies is that for anyone to succeed in agribusiness, his/her abilities and motivation must meet with opportunity. In business, you can only get business results or profits by exploiting opportunities!