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September 19, 2020

Agritours

Agribusiness in one place

Agribusiness venture start up, Article 2

2 min read

After the establishment and satisfaction that all factors of production are in order, the next bold step in the venture set-up is conducting a detailed survey of the specific line that one wants to engage in. At this stage all the important information is collected from the players in that specific field. A non-biased approach should be applied so that the real picture of the specific field may be established. This helps to correctly establish the pros and cons.

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The information obtained helps in decision making and planning on how to gainfully undertake the venture. Consultation from specialists and experts in that specific field is vital since all the current relevant information may be obtained from them.
It is at this point a work-plan or a schedule/work calendar is designed. Cost/analysis projections are calculated to help regulate all activities to be conducted in a stipulated period. Now the entrepreneur is ready to commence the project.
Caution and attention should be paid to all the emerging issues and changes that may occur. This may be issues that the entrepreneur do not have control over. A good example is change of weather, price and currency fluctuations, political activities and many more issues. This tells us that we should set up a venture that is flexible; one that can be adjusted according to the changes and new preferences without deviating from the initial goals to be achieved.
A good agribusiness venture manager always keep clean records and is always informed on the happenings in the field of venture.

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