Sunday, 30 October 2016

Partnering in Agriculture: Check this before going into Partnership

Are you willing to go for a Partnership in Agriculture. There is equal advantages and Disadvantages, when working in sole and in partnership. Here are few suggestions to check before going into Partnership in Agriculture Business.

* Let me come from begining, If two or four people are willing to do Agriculture, They can appoint one Manager, to manage the tasks in Farm.

* Make sure, don't be anxious, things might change which all depends on climate, soil, seeds and from many other sources.

* Partner being a friend, is not a bad idea until both have understanding.

* But, for some reason dont go and ask for a job or partnership volunteerly, with the friend who is already in a partnership business and dont take your own decisions. Because, you dont know what are the things there.  In place of investor, Understand the situations and capabilities to take your decisions.

* Always dont create Illusions, for example: Investor (Dont create Illusions Regarding salary), From Employee side (If we do like this we can get 3 times profit). Dont create illusions like this, because it might happen or could not happen, who knows about the future. This type of Illusions make even a non-greedy person to greedy.

* Just go for a Experienced person who is skilled one, rather than a freshers in Agriculture.

* Need to think of expenses to maintain daily needs.

* It is nice to maintain a dairy on both ends. (Investor and employee)

* If everyone invests equally, it is good for taking decisions. Otherwise priority matters.

* Sometimes, Division of Land according to Investments might help in this type of situations.

* Just write a Constitution (Rules and Regulations) for your farm, just like Indian constitution.

Hahaha :)

* If all the investors are in field, it will be nice. So, there will be no feeling of guilty on both sides.

* If someone has health issues, choose accordingly. Its better not to enter.

* If someone has more commitments, choose accordingly. Better to start solo.

* Investors need to enter into Agriculture, if they have backup for the whole year or atleast for two seasonal crops.

* In Agriculture, Percentage basis of wages will won't work for long term. Which can make to leave.

* All the Investors, need to sit together for discussions and each one need to know what are the things happening in the farm. Before taking any decision by one investor, need to discuss with other investors too Because, everyone have their own ideas.

* Invest if you believe yourself, and be free to do what you want to do.

* And last but not the least, Before investing your Money if you get loss how you are going to mange with it. Need to think over it.

If you any other points to mention, you can write down your comments.

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