Palm oil processing venture, an idea for passionate entrepreneur wants to know how to start a Palm Oil business. This is the venture that towed the way to education and source of economical survival, though has been done locally without employing advances methods and ideas.
Meanwhile, red oil processing venture is a lucrative business opportunity in Africa, Nigeria in particular but has seemed some what insignificant to many Nigerians who feed from hands to mouth through white kola-job. In another sense, if you learn how to start a palm oil business it could be a step out of your financial dependence.
Palm oil production is employable venture. It makes up over 50% of edible oils consumed across the world. Apart from being of popular nutritious value (especially in making soups, stews and pottage). Palm oil bye-products has one of the most versatile uses when compared with other similar plant.
In fact none of its products is useless start from the frond (used for making brooms) to its decayed root (Organic manure). Moreover, considering its nutritious value, Palm oil is a source of vitamin “E” and nourishes the skin.
RECOMMENDED : HEALTH BENEFITS OF ORANGE
GUIDE ON HOW TO START A PALM OIL BUSINESS
Having known what it entails to be an entrepreneur/ a risk bearer, the following steps must be taken to ensure float of the business and to thrive in spite of every odd.
For the growth of my idea I must have been acquainted with the idea through training, apprenticeship or formal education processes. This is because you can not give what you don’t have,you can not effect growth in business you are naïve.
Employment of right and smart team : For the growth of the business, people who will have the job at heart, have full knowledge of the job and prepared to make inputs and advocacy where necessary. The employment of relatives, friends or family members whose profoundness is to exhibit co-ownership should be avoided.
Planning is the central net work of every organized institution since failure to plan is planning to fail. An organized entrepreneur plans ahead, does everyday to-do-list, implement those list in order of preference.
There should be up-to-date book keeping records to show both historic movement of the business and the financial position of the business. It discloses profits or losses and helps the entrepreneur make right decision in each stage of activity.
For the growth of the business one should accept the business competitors as they are (caring thinking). That is, study them to enable you analyze your competition. Competition is an insinuation to getting the best results; always learn from your business rivalry.
PALM OIL DOCUMENTARY IS ALSO VERY IMPORTANT
Customers’ sovereignty should be observed in every point of production.Meanwhile, customers’ satisfaction is the sole aim of every production.Complaint and plight of both operating/patronizing customers and potential customers must always be put into consideration. No consumption no production and no production no consumption.
Entrepreneur who wants his business to grow must be innovative and creative and adapt and open to new ideas or inventions.Entrepreneur has to planning ahead or forecast. No planning, no growth.
Hope this is helpful? Feel free to use the comment box below for your questions and contributions on How To Start A Palm Oil Business – Palm Oil Documentary.