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The Basic Questions
Here's an Idea!
Any successful venture begins
with a winning idea. What changes will I make? What business am I going
to start? How can I get more from my existing resources here on the
farm? You can answer these questions only after you determine where
your talents, skills and interests lie and what you have the burning
desire to either produce or provide.
Where Do Ideas Come From?
If you want to do something
but aren't sure what, start by making a list of your skills and interests.
Then comb the public library or the World Wide Web. You might spend
several weeks looking through old magazines, then peruse books on
the subject, and then study specialty catalogues. Your goal is to
stimulate your imagination using the visual images in those publications.
Will My Idea Work?
Once you come up with as
many ideas as you can, ask people you know and trust if they would
buy your product or service.
If your idea is a service,
you might ask your informal advisors if they already use the service
from someone else and if they are satisfied or if there is room for
improvement. Specifically ask them if they consider your idea to be
an improvement over what they currently get.
If your idea involves starting
a business, whether that business be pickling duck eggs or weaving
horse blankets, you'll want to prepare a business plan. A business
plan is your personal business bible and road map. A well thought
out and detailed business plan will go a long way to ensuring your
success. By taking the time to do a business plan the right way, you
will show yourself, your potential funding sources, and others, that
you have what it takes to succeed. To find out more about writing
a good business plan, check out the abundance of resources at your
public library, the Small Business Development Center closest to you,
or a bookstore.
Am I Ready For Change?
Before you decide for certain
what additions or changes you'll be making on your farm or ranch or
what business you want to start, you must look deeply into yourself.
There exist numerous lists of personality traits and skills that successful
small business owners share. The U.S. Small Business Administration
has developed an excellent self analysis questionnaire to help you
determine if you are ready to start a new enterprise. Contact the
SBA and ask for the Checklist for Going into Business, Management
Aid #2.016, U.S. SBA, 1985.
- U. S. Small Business
Administration
657 Second Avenue North, Room 219
P.O. Box 3086
Fargo, ND 58108
(701) 239-5131
As a rule, successful entrepreneurs
are enthusiastic self starters who love to work extra hours, find
risk-taking very exciting, have excellent management skills, and are
well organized. However, a value-added enterprise can succeed even
if you don't have these traits when you team up with someone in your
family or a friend or neighbor who has the traits you lack.
Another important consideration
is your spouse. Does he or she support you in your decision? In the
beginning, an additional enterprise may stretch everyone to the limit.
But as country folk you have one advantage over your city cousins.
You're used to working together in the family business.
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