SOCIETY FOR AGROPRENEURSHIP
AND AGRIBUSINESS (SOFAAG)

...Grounding, Resourcefulness and Success

Welcome to SOFAAG, Africa's first association of agricultural entrepreneurs.

AGROPRENEURSHIP

Agricultural entrepreneurship (Agropreneurship) is “the application of creativity and the innovation in the domestication of plants and animals by committing the required human and non-human resource, assuming the associated calculated risks and receiving the rewards of monetary and personal satisfaction and independence in a socially responsible and legally compliant manner”.

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What is Special in Agropreneurship?

• Certainly, agricultural entrepreneurs are valued, encouraged, and their traditional subsistence (home production) agriculture supported for the sharing of what they grow with their family and friends.
• Being an entrepreneur can be a very rewarding experi¬ence.
• There is freedom, creativity, personal ownership of success (and failures).
• It is a wonderful feeling to know that you are taking care of someone’s needs and wants, and also being in charge of your finances.
• It can be exciting, stressful, fun, difficult and many combinations of other feelings.
• But, noth¬ing in life that is worth having comes for free and agricultural entrepreneurs who are able to think around problems and create solutions for themselves and their customers become successful if they are able to master the basics of the product they are growing and as many business skills as possible.

Capacities Needed

• Entrepreneurial capacity
-Risk seeking and resource creating
• Innovation capacity
-Willingness to create the new
• Capacity to assess market opportunity
-What the customer values!
• Commercialization Capacity
-Ability to convert the concept into practice

Entrepreneurial Agriculture?

• Do we have agropreneurs?
-Mostly farmers, not agropreneurs
• Do we seek innovation?
-Rather conservative agribusiness approach
• Do we assess market opportunity well?
-The “commodity” mind set
• Do we know how to commercialize?
-IP, capital, and partners
• Two other challenges:
-Biological foundation of products
-Need for collective action
Agriculture is challenged in every capacity needed for venture creation.This does not mean that agriculture cannot be entrepreneurial

Why you need SOFAAG

As a potential or practising agropreneur, SOFAAG will provide training, mentorship and support in the following activities:
• Selling your produce
• Making a profit.
• Saving a good portion of that profit and paying your bills first.
• Sharing what you can with others, and,
• Spending the rest of your profit on the needs and joys of life.
• Doing well financially in agriculture does not require a lot of formal education.
• What it does require, however, is for the agricultural entrepreneur – to learn how:
• To grow the best food (or other products) possible.
• To pay close attention to the production situations for each crop or animal.
• To really understand the market place.
• To provide superior customer service
• To become very aware of your business’ finances, and,
• To respond to missteps (problems) gracefully and quickly.

Steps to Success

  • Choose to cultivate passion and love for your agricultural business and in producing food that others will love and be healthy eating.
  • Ask what buyers want to buy from you and how much they are willing to pay for a high quality product – don’t guess
  • Learn all you can about how you can produce a product well and at least cost. Be a lifelong learner
  • Know (or make an informed estimate) what it costs to produce a product – even before the first seed is sown.
  • Include a competitive hourly wage for your efforts.
  • Choose a reasonable mark-up and set a competitive price.
  • Deliver a product that meets or exceeds expectations.
  • Ask your buyer how your product or service can be even better the next time.
  • Pay your bills and workers on time, every time
  • Develop a brand identity to differentiate your product from your competitor’s.
  • Be different, be unique, and be proud of your professionalism.
  • Stop each month and balance your accounts – don’t guess if you are making money – know it
  • Save a minimum of 10 percent of your profits from each sale in the bank
  • Contribute an amount of money to activities that make the world better or that contribute to the wellbeing of your family and community
  • Keep your eyes and ears open for new opportunities to grow your business and address the wants of customers.
  • Care for yourself and those you love, they are your biggest supporters

Need to make more enquiries?

See membership GET IN TOUCH
  • CORPORATE HEAD OFFICE

    Institute of Classic Entrepreneurs (INCENT).,317 Ibrahim Taiwo Road, Opposite SUBEB (1st Floor), Lokoja, Nigeria.
  • EMAIL US

    sofaagpresident@classicentrepreneurs.com
    ,sofaagnigeria@ classicentrepreneurs.com
    CALL US:
    08037627648, 09037625524,09021273696
    www.classicentrepreneurs.com/sofaag
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