From the The Australian New Crops Newsletter. Issue No 7, January 1997.
The secret of any new enterprise or business is not what can you produce, but what can you sell. In Australia, we can produce just about anything but ultimate success depends on identifying reliable markets which are sustainable. (There was a fellow who made a fortune selling Pet Rocks, but it was a fad, the market was very short-term and certainly not sustainable!).Marketing involves many things, right from choosing the right idea to suit you, through to banking the money from a sale. Below is a checklist of points which you should carefully answer before you rush off and start investing your hard earned cash on your latest brainwave to make a million.1. Choosing the right idea for you Does your location limit your markets? Do your skills match your idea?
What is the precise product they want?
How do they want the product or service delivered?
Who and what is involved in your industry?
Can you compete on price?
3. Organising the production phase.
Can I produce quality products?
How can I guarantee top quality all the time?
Can I produce a regular supply of product?
How can I keep improving my product(s)?
How can I finance my idea?
How am I going to monitor and control my finances?
How much am I risking? Can I afford it?
Remember, cashflow is the lifeblood of all new enterprises.
What advertising and promotion do I need to do?
Who is going to distribute my product?
How should I present or display my product?
How am I going to offer top quality customer service?
If you write down the answers to all these questions, you have the basis of a Business Plan which is simply a checklist to ensure you have thought of everything. Remember, the success of new businesses, especially in the agricultural field, depends on:
Quality of products
Being able to maintain a regular supply
Having top quality customer service. It is that simple! However, it will involve long hard hours of work to get your business up and running.
Contact: Greg Cahill Telephone: (054) 304 444
Facsimile: (054) 484 982