What does it take a business to be successful?

[2Pizza410000BTC]

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.

Does your friend have the strength to work hard and can afford to buy 10 to 20 cattle? If your friend has the strength to work hard and can afford to buy 10 to 20 cattle, then you can give him the idea of cattle farming, because cattle farming requires a lot of effort and it is never possible to raise our animals with little effort. Moreover, since your friend asked for good advice, I would say that your friend should start by buying at least 10 to 20 cattle, because first of all, 10 to 20 cattle will be enough and especially if you want to start this cattle farm, you must choose a high place, choosing a low place is never acceptable. However, over time, your friend will undoubtedly be able to start this business, because cattle farming is a profitable business.

[Maslate]

Having a good amount of capital and passion aren't enough. For this kind of business to succeed, he should know first if this has high local market demand, otherwise his business will not thrive. And since this business is all about raising cattle then he should be more particular about animal genetics, and the rest about planning and financials, and breed and stock selection should also be learned as well before he will dive into his business.

And most importantly, if he is seeing this a long term business, or he might not be determined and flexible enough when suddenly problems arise while working on his business.

[PERtua]

I would just throw in cash flow. The cattle business might appear profitable but the costs of feed, vet and labour are all recurring costs, and the income may only come when a sale is made. So I would first work out the expenditure that I would need on each animal from buying it to selling it, and then have a bit of money left over for unforeseen circumstances. The selling price is not enough to determine if the business is really profitable.

[L E G E N D A R Y]

One thing I’ll advise is that, having a good knowledge about a business is a good start, so before putting money into cattle rearing, he should first spend time with someone who have been and is still running the business. There are several costs beyond just buying the cattle, you have mortality rates, land, labour and several other things. The business can indeed be profitable, but how profitable it’ll be also heavily depends on certain factors, such as location, breed, feeding and the overall management of the business. So it’s best to start small and learn the practical aspects of the business and then grow gradually rather than heavily investing in the business without having any real experience about it.

[#CapsLOck]

One aspect which I think often gets forgotten is that you aren't just looking at the final selling price, but profit per animal. Cost of purchase, feed, veterinary and labour costs, housing, as well as loss from sickness can make significant changes to the figures. First I would maintain records for a few cattle and would determine the actual cost per animal from buying to selling. This would also indicate whether it's a profitable business that runs all year round, or just during times of demand. While it's great to have experience. Having these numbers makes it a lot easier to assess the experience.

[danherbias07]

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.

You should've added more information about your friend, or he should've added it if he wants help from you.

Land. Does he have enough land to breed and shelter those cattle? It means it can be grazed on a broad land.
Manpower. Does he have the ability to gain manpower, or will it be a family business that is just taken care of by the family members?

It's difficult to give ideas if there's a lack of information. It's best if you can get more details about how he can make it happen or it will just be an imaginary business.

[trendcoin]

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.

First of all, I’m not sure if this question can be answered in a forum post, and I don’t think it can be because it’s a topic that requires expertise. Second, we know that your friend needs a very large amount of capital for animal farming. If he asked you this question to learn more about it, we can also say that he doesn’t have any knowledge on the subject...

Based on the information we have, your friend has a large amount of capital and wants to invest it in an area where he lacks expertise...

In my opinion, this is a major strategic mistake. We’re living in times when cash is king. Of course, taking risks is possible in such times, but I don’t think it’s wise to get into this kind of business with such a lack of knowledge...

[CryptoBuds]

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.

There are a thousand ways you would sort to get this information you are asking for, I mean there is the internet and even agricultural gurus because for information like this, it's best to ask and get the answers from the horses mouth. Because I know that experience is the best option to give anyone advice on matters like this. The forum is a big place no doubt but I don't know how many people would be there to provide you that concrete information you are looking for

Yep, our forum is not just about Bitcoin or investing. But like the second guy in first page said, I dont think this is really a best place for livestock advice either.

From what I have seen, not many people here have any real experience with it, tho I could be wrong.

If OP and his buddy are really serious about this business idea and wants some proper advice. They should talk to expert or people who have year of experience in that field, not just random folk on social media.

[Emitdama]

Each business has it's own process and the best strategies you can apply to make progress. If he has the idea it will be faster for him to start making profit because through the influence has had gotten in the field he will be able to attract customers to himself in the business.A business that one is learning they should have knowledge first and not go into establishing the business until he is fully ready and has gotten all the necessary exposure he needs to succeed in the business. If you have passion a business you will endure when things are nit going well because of the love you have for the business and your goals but when you do a business because it money if it's not coming you will get tired of the business.

You are right alongside business you must cultivate patience and resilience in other areas of life as well.This ensures that even if you face failure you do not succumb to regret instead you strive to rectify your mistakes and summon the courage to overcome challenges Learning the fundamentals such as gaining experience, developing skills adopting the right mindset and practicing patience is essential when starting any venture. If you possess these qualities, you are likely to achieve rapid growth in your business.Furthermore your personal dedication to the business is just as crucial as these other factors the business will only yield profits and growth if you devote time to it.You should also aim to take personal charge of managing the business's affairs.

Patience is the key to success not just in business but in almost every other aspect of earning. Without patience, one would simply be expecting quick returns and would usually run behind something offering get rich quick scheme. It does not take that long for one to lose money in any market. In business, being patient is a really important part of the game. Starting a business can be easy sometimes if we have the proper resources available but managing and running that business for a decent time is what takes patience.

Even OP's friend will have to be extremely patient when dealing with cattle. It might take months or even years for him to get the initial capital back because there would be recurring costs associated but if he remains patient, he can soon reach break-even and start generating profits.

[suzanne5223]

One thing I’ll advise is that, having a good knowledge about a business is a good start, so before putting money into cattle rearing, he should first spend time with someone who have been and is still running the business. There are several costs beyond just buying the cattle, you have mortality rates, land, labour and several other things. The business can indeed be profitable, but how profitable it’ll be also heavily depends on certain factors, such as location, breed, feeding and the overall management of the business. So it’s best to start small and learn the practical aspects of the business and then grow gradually rather than heavily investing in the business without having any real experience about it.

That's solid advice, if you ask me, because jumping into a business with a big herd without real hands-on experience is how some people burn capital fast. However, I do add that there's still a need to map out the local market first for those who actually buy the animals or the meat, the prices they pay at different times of the year, and how reliable those buyers are, because even with good management, if the demand or the selling channels are weak, the business still won’t be successful no matter how carefully he executes everything you said. That said, starting small (maybe 5–10) and working with experienced farmers is probably the safest way to test both the practical side and the cash-flow reality before scaling.

[JoyceBTC]

One thing I’ll advise is that, having a good knowledge about a business is a good start, so before putting money into cattle rearing, he should first spend time with someone who have been and is still running the business. There are several costs beyond just buying the cattle, you have mortality rates, land, labour and several other things. The business can indeed be profitable, but how profitable it’ll be also heavily depends on certain factors, such as location, breed, feeding and the overall management of the business. So it’s best to start small and learn the practical aspects of the business and then grow gradually rather than heavily investing in the business without having any real experience about it.

Because without learning the business or having that knowledge about the business, no matter the money invested in that business, it might end up failing since no knowledge about the business, it won’t be managed properly.
A good management comes about from strategies which have been developed in the business and it surely takes a lot to handle a business in the right direction, because risks are involved, challenges and uncertainties.

[Samlucky O]

Surely I am not replying Bose on your friend advice but according to the topic.  If I the topic op, then I may likely say that what makes a business successful is not just by what type of business we do but how we are able to do it properly without missing the step. Any business can be successful base on how we manage it. I believe in consistency and strategy.  To succeed in business you need to focus on one thing and be consistent and not jumping into different things. A good business man/woman needs to study and keep on doing same business repeatedly untill he understands where he is not doing well and correct his/her Mistakes and from there he or she will become perfect and succeed. The problem that makes people fail in business is the inability to bear or withstand risk. Every business comes with risk and when it comes you don't need to run into another business, you must keep doing it over and over again untill you know what makes you lose and that is how you succeed.

[Davidvictorson]

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.

1. Your friend should speak with people who are in already in the business.
2. He should join the association or union of people in the same business
3. He should get a mentor whom will guide him.
4. He should not start big but gradually especially if he has no idea about agriculture or cattle rearing.
5. He should read business books, get a good financial advisor or accountant.

[Questat]

Surely I am not replying Bose on your friend advice but according to the topic.  If I the topic op, then I may likely say that what makes a business successful is not just by what type of business we do but how we are able to do it properly without missing the step. Any business can be successful base on how we manage it. I believe in consistency and strategy.  To succeed in business you need to focus on one thing and be consistent and not jumping into different things. A good business man/woman needs to study and keep on doing same business repeatedly untill he understands where he is not doing well and correct his/her Mistakes and from there he or she will become perfect and succeed. The problem that makes people fail in business is the inability to bear or withstand risk. Every business comes with risk and when it comes you don't need to run into another business, you must keep doing it over and over again untill you know what makes you lose and that is how you succeed.

Its easy to start a business, but the biggest challenge is how to keep it thriving and sustainable in the market. Because knowing the business alone isn't enough, but on how consistent and resilient you are even if the first months and year the business seem off to you.

Now back to rearing cattle as a business, your friend should also make sure about this feed and water availability in the area. Inflation will also affect the cost of feed, fuel and transport, so make sure your friend is prepared for these concerns before he will dive into this kind of business.

[LogitechMouse]

Re: What does it take a business to be successful?

SALES!!!
Every businessman needs to be a good salesman in order for them to be successful. Learn how to be a good sales man.

I've watched the Facebook Page named "The School of Hard Knocks" where the influencer interviews successful businessmen and if you will ask them, they always have one thing that they say the most. "Be good at sales", and that's true. In whatever business you want to venture, you need to have a good sales man. You can have the best product, the best service, but if you don't know how to market yourself, that business will struggle to survive.

Sales is everything in business, but it's not all about convincing people to buy in the business that you have right now, but it's also about understanding what they need, and building the trust. What I said is more of a general thing, but I believe that it will help your friend, and to others out here who wants to try to build their own business.

[naikturun]

I think cattle farming can be profitable, but it depends heavily on feed costs, cattle prices, healthcare, and proper management. I would suggest starting small and learning from experienced farmers first. The key is calculating all costs carefully and having a reliable market to sell the cattle before investing heavily.

[348Judah]

Adequate planning and professional management are necessary to run a business successfully; it is very unfortunate that so many businesses started well but couldn't sustain their existence because of one challenge or another related to how they manage the business. This is why we must draw a specific plan for how to run a business and also have the necessary experience in that same field before we finally launch it into operations.

[AprilioMP]

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 is a good idea because it falls into the traditional category, requiring annual returns, and this is the practice in my community. The potential for success in this business is good, but the costs are significant.
The starting age of the cattle and the number of cattle to be raised depend on this. If you have another idea that targets a traditional market with daily needs, it's better to try another business with a faster turnover.

[Junii]

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 business is very profitable but if some one has knowledge one of my friend is also doing that business but for him the plus point is it was his father business so all the experience and knowledge he gained on home because it is not about like just buying cattles and waiting for them to increase in value. There are also many costs involved like feed also land and water veterinary care or some people even hire a doctor which is available any time also labor transportation costs as well. So if he has knowledge then it is good but if he is beginner then he should have to gather more knowledge or do some experience with others who are running that business.

[L E G E N D A R Y]

That's solid advice, if you ask me, because jumping into a business with a big herd without real hands-on experience is how some people burn capital fast. However, I do add that there's still a need to map out the local market first for those who actually buy the animals or the meat, the prices they pay at different times of the year, and how reliable those buyers are, because even with good management, if the demand or the selling channels are weak, the business still won’t be successful no matter how carefully he executes everything you said. That said, starting small (maybe 5–10) and working with experienced farmers is probably the safest way to test both the practical side and the cash-flow reality before scaling.

One thing that’s also worth noting is the time that it usually takes before the money invested is recovered. Cattle rearing isn’t just like some other regular businesses, it can tie up capital for months, or even years, so it’s crucial for anyone going into such business to understand the cash flow cycle and also have enough funds in place to cover expenses without having to depend on early profits. No matter how profitable a business might look, things would definitely become difficult if one runs out of capital before the business reaches maturity stage.