What does it take a business to be successful?

[Cryptomultiplier]

A friend want to venture into business and was asking me to share with him things that are involved that particular business, but to be frank I am not into that business for me to share idea with him.
He said of wanting to venture into rearing of cattle's and how lucrative such business could be?

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

Cattle farming has different experience because I have Goat experience too. The advice of extensive systems, the experience is different from the one you will get if you practice intensive system and as well as semi intensive. Each of them have their advantages and their disadvantages, you have to look for one that you are very confident that will work for you and if you have the time to practice that kind of system.

It will make sense if you reason with people that are in that kind of line of business. If it's a physical business and you know people that are into such, it will make sense to engage those people so you can have answers that are coming from people that are in that line of business. If you ask a random person that doesn't have such experience, I'm afraid that you may not get the right answers to what you need.

Venturing into any business requires thorough knowledge and personal research as to the best practices to begin with and that will help sustain it, even if such a business looks lucrative from thinking about it alone.

So while cattle rearing might be highly lucrative as much as rearing of goat or other domestic animals, much capital needs to be invested in it to get good returns and careful planning too.
Such kind of business would require constant attention and that means if one can't always be around, at least some other person in the form of hired labour or family with concerns for the growth of such business, must always be present to oversee it.

Inorder to learn better how to sustain this line of business, visiting other similar kinds of business should be a priority because reading about it online alone won't suffice.
It's also good to start small just to understand and be able to estimate, establish an understanding, before major capital is thrown into it for large scale profitablity.

[ColdLava40]

A friend want to venture into business and was asking me to share with him things that are involved that particular business, but to be frank I am not into that business for me to share idea with him.
He said of wanting to venture into rearing of cattle's and how lucrative such business could be?

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

It will depend on the type of business we are talking about here. Since you mentioned cattle, then it falls under agriculture.

There is a lot to consider when going into agriculture because you need to study the particular area you want to venture into in detail. Cattle rearing comes with a lot of work, especially ranching and making sure the cattle have enough grass and proper care.

Honestly, I don't know how he will be able to manage such a business, but I would advise him to consider something less stressful. The cattle business requires more work and resources than he might think.

This topic also doesn't really look like something that belongs on this board.

[Hyphen(-)]

A friend want to venture into business and was asking me to share with him things that are involved that particular business, but to be frank I am not into that business for me to share idea with him.
He said of wanting to venture into rearing of cattle's and how lucrative such business could be?

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

Starting business is not the problem, maintaining the business is the main problem because so many people just decide to start business without having plans of where and how they will sell their market, so if they didn’t sell, they letter give up the business because they didn’t do research before starting.

Network is very important, if you have customers that will want anything your produce, you will sell faster and your business will grow faster.
If you friend is trying to rear cattle as he said, he can go and search look for end users, create good relationship with them and also look for knowledge from farmers and them look for better breads that will grow faster and give more more profit, so that you will be well prepared before starting.

[Obulis]

Lucrative business indeed, Milk is a global commodity and cow milk is a major natural resources in milk production which some farmers focus their attention on and only produce meat occasionally.
Your friend should decide if he is going to focus on milk production or milk and meat production, after deciding that, then he can think of how many cow or heifer (female) to start with. One bull/male can serve 3 cows or heifers. Can also see if he will need some calf (young cattles). All of which are directly dependent on how much he has to start with. He have to do is do market survey of the cost of major raw materials (the animals) and then also check the cost construction of their pen. Generally animal in these category needs a grass land for easy assess to feed.

[Royal Cap]

Well, the business of raising cattle is indeed very profitable but in reality it is not as easy as it seems from afar, because I sometimes see on social media that after investing a lot of money in a cattle farm, they face losses after 1-2 years and have to close the farm. The main reason for this is the lack of previous experience, So if your friend does not have any previous experience, I would advise him to start with one or two cows instead of a big farm. And as far as I have seen, the most cost and effort in this business is behind the food and treatment of the cows, If a disease suddenly occurs, there can be a big loss, so it is very important to look for a good veterinarian nearby. It is almost impossible to succeed in this business by relying only on employees without spending time on the farm yourself.

[coin-investor]

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

Coming from failures and successes in running a business, so much depends on what you know about the nature of the business you're in. Never go into a business because of hype, because others are having success in that kind of business.
If you know the business and it is the kind of business made for you, you will excel in it; you know every detail.

Another one is having contacts and good public relations; these two are also indispensable, as they give you a big boost if you have the right contacts and customer support.
Don't just go for profit; create relationships, and your business will create a brand for people to go to.

[Hamza2424]

Let him go to fulani people gather them and buy 5 female cows and 2 male cow's, have a monthly budget for feeds and water, a big space of land and a fence, having stead ventinary doctors for their treatment.

But very important he have experience on his own instead of relying on comments on random forum members who's experienced may differ based on individuals and their locations.

It may be a local thing, but who are Fulani people? Monthly budget is important though. I had land and some animals, but not for business, only for self use. I was not the one managing them because I kept them in the village, and you know, commission-based management. I don't know what the local term for you, here we say Vag.

Anyway, it's funny that something like this is being discussed here, but this is not surprising at all. But I am more keen to know why the OP would even create a topic here. I would never in my life gather the courage to do something like this haha.

[Powerjumboo]

A friend want to venture into business and was asking me to share with him things that are involved that particular business, but to be frank I am not into that business for me to share idea with him.
He said of wanting to venture into rearing of cattle's and how lucrative such business could be?

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

Deciding to raise cattle is a very good decision. If your friend can work hard and do his own work, then he will be able to profit from raising cattle. If you can start your own business without finding a job and become a good entrepreneur, then there can be no greater profit than this. However, for raising this cattle, you must have some experience in treating animals, because when cattle are sick, they have to be treated, and you have to play the role of a doctor to treat them. For this, you must gain some experience. Also, raising cattle requires some space and some grassy land, nothing else is needed. But from my point of view, I would say that this is a very good decision. If it is successful, he will be able to change himself a lot.

[Botnake]

Now the question is, is your friend has prepared a high initial capital and has long term commitment over his planned business?  Because if not, despite having that kind of business offers steady market demand, the target income will hard to be achieved due to lack of capital and dedication to his own business.

A business can only be successful with the right skills, strategies, right attitude and mindset. All of these can be achieve to guarantee the business success.

[abhiseshakana]

I have little experience on this business. I own a small scale cattle farm with about 20 beef cattle and 10 dairy cows. Actually this was just a seasonal business to meet the surge in demand ahead of Eid al-Adha (the Muslim festival). Starting from a cattle fattening business with 5 calf and then kept it for about six months. In my opinion, the biggest cost component is feed. Because my farm is located on the outskirts of the city, It is somewhat difficult to obtain a supply of green grass. Because to get green grass in my town, i have to hire people to weed the grass.

My suggestion for your friend to start cattle business, do not spend a large portion of capital on buying cows. The amount allocated for capital that remains liquid must be higher because we work with something living which have daily needs. the most important thing ensure the livestock farm has the necessary location permits.

[Franklyn-wood]

Now the question is, is your friend has prepared a high initial capital and has long term commitment over his planned business?  Because if not, despite having that kind of business offers steady market demand, the target income will hard to be achieved due to lack of capital and dedication to his own business.

A business can only be successful with the right skills, strategies, right attitude and mindset. All of these can be achieve to guarantee the business success.

When starting a business almost every one thinks or feels that money is the first thing they should go after, but it's not like that. Knowing that founder mentals of the business of work. Have a target that is achievable, work with people with same dreams and passion.
Have a structure of how you want it to be, then when you are set with all the primary arrangements get money

[Judith87403]

Now the question is, is your friend has prepared a high initial capital and has long term commitment over his planned business?  Because if not, despite having that kind of business offers steady market demand, the target income will hard to be achieved due to lack of capital and dedication to his own business.

A business can only be successful with the right skills, strategies, right attitude and mindset. All of these can be achieve to guarantee the business success.

Capital is needed to start any business but you cannot start a business by just only having the capital to start with. You have to know the scope of the business, the ethics and the principles needed to guide the business in the long term. There are people that just want to start a business because someone is doing same business and succeeding with it but they don't even know the nitty-gritty of that business.

Some people might have a business they intend to start but since they don’t have the capital they might not want to go in details to know more about the business, the risks, the likely obstacles they may encounter and the estimated profits they can make from it. When the capital arrives they will now start making rushed decisions because all they are interested is how to start but when they fail in that business they begin to say that such business is not profitable when they were the ones that didn't do a proper research before starting.

[Jessie2121]

Your friend doesn't need much to make his business to go big, since he have that affinity to start up cattle rearing I think for that business to be successful it has to start with him first because we have so many people that love doing something but have no idea on how to take care of it and the business will die off without them knowing how it happened. For your friend to ask you for a start isn't bad but it is at the same time because you don't have any idea on what to say to him, and is good he asked you OP but at the same time I wonder what your response was, it would be better if he start scouting for those who are into this business that is if the money is ready, they know what to answer him or say to your friend that is good for the business and never to forget that whichever business he's about to start he should bear in mind that there must be more loss as a beginner, things mustn't be rosey at first until he is well soaked into the business, like getting customers and other link up for the business to stand firm. Your advise may not be what he wants but this should give him a direction on what to face or encounter.

[Fiasem20]

Your friend should honestly seek the advice of those that studied animal husbandry they’re good at that because it’s their field or not necessarily those that studied animal husbandry but even those that have been into the business for a long time they would definitely have an experience to share about the pros and cons of the business.Rearing cattle is a good investment I would say it appreciates,a head of cattle is sold half a million in my country so those that are into the business are really making good income.So what you should be concerned if you’re interested in the business is to build a long term goal because cattle are living things and they would definitely reproduce their kind.

[Marykeller]

OP, from some of the posts you have made, you are from Nigeria, and I am sure you and your friend have seen or heard how the rearing of cows in Nigeria has been, and those who takes care of those cows, who they really are, the Fulani.

I will leave you with the advice of Wiwo because that's the first step for anyone who wants to start rearing cows in Nigeria to think about doing, before anything else.

Let him go to fulani people gather them and buy 5 female cows and 2 male cow's, have a monthly budget for feeds and water, a big space of land and a fence, having stead ventinary doctors for their treatment.

[boyptc]

A friend want to venture into business and was asking me to share with him things that are involved that particular business, but to be frank I am not into that business for me to share idea with him.
He said of wanting to venture into rearing of cattle's and how lucrative such business could be?

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

Raising the cattle takes time and they're not the same as the others when raising it.

As long as they've got vast land where these can go around which is better so they can move freely and eat the grasses.

But make sure that it's in your territory because you'll never know the bad people when they have the opportunity to steal one, they would do it.

[Oshio-man]

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

If you can achieve the following, 1)  wisdom is what you need to achieve to display what will lead you to where you will begin to see income that will increase you in that business, 2)  a develop place will make you to find customers that will be using huge amount of funds to purchase some goods and services that will make your business grow faster because wealthy people are living in such area and they use huge amount of funds to purchase any kind of products that will satisfy them, 3) capital is another one that will contribute to make the business successful because you need what will make you to purchase any kind of product you want that will attract customers that will draw the attention of other customers.

[Cossyblack]

He said of wanting to venture into rearing of cattle's and how lucrative such business could be?

Please if there is any idea you can share here many I wouldn't mind sharing them with him to know what it takes to run such business.

Cattle breeding is a lucrative business in my country because people who are into the business make good profits from it.  In my opinion, your friend would need lots of money to start the business because cows are expensive, Another thing is that he would need to setup a ranch,the size of the ranch he setup will depend on the number of cows he is starting with. The reason he needed to set up a ranch is to protect his cows from rustlers and to control them from going out so that they wouldn't destroy people farm crops or properties,So if your friend can setup a ranch and can afford their feeds and medicine,then I think he can run a cattle business and make profits from it. Honestly, the business is lucrative provided you have the capital to run it.

[DYOR+BTC]

Now the question is, is your friend has prepared a high initial capital and has long term commitment over his planned business?  Because if not, despite having that kind of business offers steady market demand, the target income will hard to be achieved due to lack of capital and dedication to his own business.

A business can only be successful with the right skills, strategies, right attitude and mindset. All of these can be achieve to guarantee the business success.

Thats right, without the right skills, strategy and mindset it will be very difficult coming out successful in any business we think of getting involved in. Many become successful today in business all because they have the desired skills and are willing to dedicate time, effort and resources on it. Although without the skill one can still hire a skilled personnel to do the job but can only be possible if there is  a required knowledge that will help on the process.
Business is among the most difficult activities to embark on, especially if the person lacks the fighting spirit to remain focused even in difficult times

[lombok]

Thats right, without the right skills, strategy and mindset it will be very difficult coming out successful in any business we think of getting involved in. Many become successful today in business all because they have the desired skills and are willing to dedicate time, effort and resources on it. Although without the skill one can still hire a skilled personnel to do the job but can only be possible if there is  a required knowledge that will help on the process.
Business is among the most difficult activities to embark on, especially if the person lacks the fighting spirit to remain focused even in difficult times

Yes, I agree that technical know how, effective planning, and mental toughness are the key elements on which business success depends. Success for entrepreneurs lies in the readiness to expend their energy and money, and at the same time a large amount of mental perseverance in the management of operations through all difficulties in the field.

Surely hiring experts can be an intelligent choice for money owners provided they have enough management knowledge to control the business operations. Toughness becomes very important in order to strengthen the concentration of leaders from being devastated by the storm of difficulties that may come their way.