My candid advice goes to young agro-preneur or starters; you have to move closer to an expert in the business and stop listening to people who only good at analyzing business on a sheet of paper but never go to the field for once. Agro commodity business is purely field work in other words, it’s not an office work where you base all your works on
experience and speculation based on office record. Agro commodity business is far from speculation and paper analysis but majorly based on reality and field involvement.
“ I have read so many articles online on how to make money trading agro commodities from home, start agro commodity with no capital involve, make so much money trading agro commodity with #1,000, we have 1000MT of cashew nut in our farm location all we need is buyer”
Anytime I come across topic like this, what comes to my mind is that these articles are meant to waste people’s money and probably waste their precious time. No day you can sit at a comfort of your home and make money trading agro commodity either you lost all your money to a stranger or develop a heart attack as a result of mis-management of your resources. No business you can start with no capital not to talk of agro business where only the money involved in buying call card in a day is an amount to something huge with people with mind-set of earning without money. Most of the time, you will need to confirm the price from other country that produces the commodity you wish to export or trade and finally, no day a genuine trader or exporter can be so stranded and all left for him/her is to be posting advert all over the internet he has 1000MT stock-pile of cashew nut for sale.
Sometimes ago, someone called me and told me he has about 500MT of cashew in his warehouse at Osogbo, it’s funny and I sent my team member located around the area to visit his warehouse and the reply I got was actually what I was expecting. “the young man happens to meet some farmers who has about 52 bags of cashew nut as at that time they kept this goods based on price fluctuation speculation and they wish to make more money when the price increases but unfortunately, the price dropped and they wish to sell to avoid more loses from further decreases in price so the young man came to the internet and contact us. Funny enough he doesn’t know what tonnage is.
The basic truth is that no active agro commodity trader/entrepreneur has time for magic or wasting time on speculation or rather listening to what people say. Real Agro-preneur is always on the field and no time to impress anyone. Before they go out for a business, they already calculate their risk, profit, miscellaneous and rigid plan B.
It’s very difficult to be stranded. If there are challenges that arise in the course of doing the business, they know how to handle it and not to come online and be ranting about it.
Agropreneur/Enterpreneur are purely risk takers. No need to stay back at home posting a request for cassava chips price everywhere on the internet when you can take a visit yourself to the farm location where you can check quality, talk better about the price, quantity availability, production processes and many more During this time, you can also come across some commodity of interest and with time, you will build more on your sourcing capability as a young agro preneur.
Most of the time, the time and money wasters comes out to scam you. When they give you a price that is much more lower than what is achievable in the market, they always wish you fall for this gimmicks and some will ask you to pay only transportation of the goods while they will follow the goods in person to collect the proceed of the transaction. Don’t fall for it. My advice to people is, if you want to deal with #500,000 for example, I don’t see any reason why you will not travel and study the market with less than #20,000.
Hints* As a young agro preneur, not everything you must believe most especially people you have never met before. It takes time to develop trust. Do more on feasibility study instead of relying on magic paper work.