How do you improve your agribusiness performance?

- Make good use of your market research budget! - Get hold of credible primary and secondary data sources! - Get diversified and qualified expert opinions

For Agri Inputs business , Understanding the famer's requirement and cost - benefit ratio for the product they use will be very important. Product trails data season wise will be of great use here to make sure that farmers get desired benefits once they use the product. Analyzing market before hand for competitive products , pricing , strategy used to promote the product and distribution - marketing channel used will be a great plus. The FAB of your product and GTM strategy you use will be the key to improve sales.

You need to choose right product for Production / Marketing ,keeping the latest consumption trend & customers preference & create nieche for it for making it sustainable to stay in the Agri Business.

Winning confidence of your end customer - farmer , by giving them quality product and service at the right time through direct connect with them plays an important role. Choosing strong and correct channel partners , getting correct market feedback and continuous working on the feedback to improve product quality and range is also very important...

The first step should always be market analyses. It is very important to know the customers needs and market potential. But also, knowing the competition is essential, as it will help you to build up a successful strategy for market approach and market positioning.

Make sure you not only work in your business (the fun stuff), but also on your business (the office). I see plenty of customers who are really great farm operators, but they let themselves ( and their business) down by not paying attention to the formal business side. Cash flows are a great example, but they are a waste of time if you don’t compare to your actual results on a regular basis to your forecast. Also GST is not just another form of financing - it is the Government’s money and you can get yourself into all sorts of trouble with both your Bank and the Government if you don’t respect that fact!

Enhance agribusiness performance by innovating products and services. Monitor customer trends, needs, and market preferences. Explore new ideas, technologies, and solutions to add value and differentiation. Conduct product analysis to identify life cycle, portfolio, gaps, and potential. Use insights to develop new products, enhance existing ones, or diversify your product range.

My experience has taught me to listen and accept constant criticism. Accepting failure and taking advises from experts in the field has also improved my understanding on things I didn't know or thought I knew. Involving stakeholders and listening to any input they have helps to maintain and improve profitability. Having understanding of what drives profit in my business and having backup plan or effective strategies in place to manage a range of possible scenarios.

Being successful in any business including agribusiness depends on relationships with clients,when we pay attention to the client needs and pain points we are having the best resource to learn what is the best performance for our business. We have a chance to develop our products based on their needs , we have access to first hand feed back from their experience even the clear vision from the competitor. We are able to adapt or modify our relationship with other stakeholders in any stage but if we lose trust and relationship with customers it is mean we lost the game .

I'm glad to see this article emphasizing the significance of engaging stakeholders in agribusiness. Speaking of improving agribusiness performance, Tridge is a global food sourcing hub that serves the purpose of connecting agribusiness stakeholders effectively, thereby fostering transparent and mutually beneficial relationships between buyers and suppliers. Do check it out and let me know your thoughts.

Deriving inference from the data is very important to understand where we are going wrong in terms of offerings , channel selection . This has to be followed by timely action points to correct on shortcomings and improve upon grey areas

Revamping agribusiness performance involves various strategies and considerations to enhance productivity, efficiency, profitability, resilience and sustainability. Here are some key programmatic performance indicators which can plausibly help farmers improve farming as a business. They include; Market research and analysis, maintaining detailed financial records and budgets to track expenses, technology integration, crop and livestock management (optimize crop rotation and livestock breeding programs), streamlining storage and supply chain by reducing waste and minimizing transportation costs, risk management/diversification, sustainable practices, insurance, branding, marketing and networking. ~ SIMON KISELI- AGRIBUSINESS SPECIALIST

In agribusiness, success lies in adaptability. Monitor economic, social, political, legal, and ecological conditions. Anticipate challenges and opportunities from external factors. Conduct environmental analysis to 1)Identify 2)Threats 3)Opportunities 4)Scenarios. Assess impact and likelihood to develop contingency plans and resilience strategies. Being ready for change ensures your agribusiness stays agile and thrives amid evolving conditions in the agricultural sector. Adaptability is a cornerstone for sustained success.

Apparently production is not the only challenges that agripreneurs face. Upon overcoming all the environmental challenges involved in production in a harsh environment (semi-arid), utilizing several technologies and resources such as irrigation, encountering a surplus at the time of harvest is demoralizing. It is a learning process and calls for more data collection and analyses in order to avoid such incidences in the future. Among lessons learnt is the need for diversification, expansion of the markets and more investments in research to inform production.