As a livestock farmer with experience I know that challenges is part of the growth process but if not managed well, the business may liquidate.
Over the years have experienced fall in egg price, hatchery problem, crazy increase in DOC price, failure to meet customers demand, increase in feeds price, shortage of human resources, weak internal control system, disease outbreak which claimed over 1000birds and lack of cashflow.
I never give up and I never stop learning. In 2023 I tapped into the idea of "FARMERS WILL MAKE MORE MONEY" statement alot of Nigerians was using as memes but I was thinking about how to tap information around the ecosystem to make the statement come into reality for me then i started attending seminars for more information, reading more on how to ensure sustainabe practices in agribusiness.
So, taking bold step in achieving your set goals and objectives means you are closer to the vision. We are better off today and we can still do better because alot of resources are still around the ecosystem for us to utilize. We keep on pushing and praying for more wisdom and knowledge to scale through the hurdles. We shall not fail (Ameen).
With my solid background in accounting and finance i never underestimate any related accounting courses. Anyways if you practice past questions and you understand the accounting standards very well, you will definitely pass ICAN. Make una pray for me this coming diet because i will be sitting for all the remaining 5 papers.
Broiler farmers who are willing to get a minimum of 5kg+ weight for Christmas and New year sales should get their DOC before October 15. Atleast 40%-50% ROI is guaranteed and if you need more info on how to raise broilers DM and let fix it for you๐
My morning thoughts โ๏ธ
Sometimes, all you need is to find something good to eat and just enjoy the moment. ๐
All this wealth acquisition we are striving so hard for will eventually come with more responsibilities and more problems to solve.
Sometimes, I ask myself, why do humans refuse to let God take charge of their lives? Then I realise that perhaps we are all running a race that may eventually lead us into another set of problems.
But maybe that is life. A life without challenges is hardly a life worth living.
So, while we work hard, pursue our dreams and seek prosperity, let us also pray for the kind of problems that will not take away our peace.
May Allah bless us with wealth, good health, contentment and, above all, peace of mind (Ameen) ๐คฒ๐พ
A farmer can make profit on paper and still go broke.
Here is why;
A farmer can make profit on paper and still go broke.
Hereโs why:
Profit is not the only measure of a sustainable business.
Under accrual accounting, revenue can be recognised before the cash is actually received. So, a business can report profit while struggling to meet its immediate financial obligations.
This is why cash flow management matters.
A business may be profitable and still be unable to pay its suppliers, workers, lenders or other obligations when they fall due.
Profit tells you whether the business is making money.
Cash flow tells you whether the business can survive the journey.
As a farmer, Iโve learnt that understanding both is essential.