Failure is part of your journey, learn from it
SEE ALSO :Don't sell what you wouldn't buyCaleb is a former journalist who quit his job to pursue his passion for agribusiness, and now boasts three farms across the country where, among other things, he rears more than 5,000 kienyeji birds. These are some of the entrepreneurial tips that Caleb shared with James: 1. Failure is part of the entrepreneur’s journey Failure is inevitable in the line of entrepreneurship, and especially in the poultry business, which is prone to numerous risks, such as disease and theft. Failure, however, should be looked as an opportunity to learn, rather than an insurmountable barrier in the entrepreneurial journey. 2. Don’t diversify at the start-up level
SEE ALSO :Baking my way to successFocus on one line of business at a time, especially in the beginning, and don’t diversify across different industries because it shifts your focus from the growth of the business. If you intend to diversify, then do so within the same industry as the main business. 3. Don’t go into production without a market In the poultry business, avoid going into production without having secured a market because the business will be operating at a loss. An entrepreneur’s first intention in this industry should be securing clientele, after which they then go into production, especially in the hatchery line of business where you sell one-day-old or one-month-old chicks. 4. Take up insurance The poultry business faces numerous risks that could bring a business to its knees quickly. To give yourself a measure of security, take up an insurance cover that protects you from such risks.
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