STEPS TO INCREASING REVENUE FOR FARMERS

February 2, 2018

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HABGITO NEWS

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Many farmers have thought about strategies they can take to maximize revenue, especially when they feel they should be earning more than they have. They usually employ strategies such as working harder by maximizing labor force and spending on supplements for their crops. It is sad that after application of these strategies, some records increase while some do not. In essence, getting great revenue yield from your farms requires concentration and dedication.
We will be sharing some advice for farmers on how to increase their revenue without much spending.

1. RECOGNIZING YOUR PROFIT DRIVERS
Many farmers are very skilled in their craft but poor in managing their business. We understand that when farmers pay key attention to what yields return to their business and learn how the application of variation can influence the profit yield, they usually have control over their returns.
Many factors influence the success of a farm, i.e. changes in price, cost of production, employment costs. Proper management of these factors will influence whether there will be greater profit yield or a low return on investments.

2. MANAGING EMPLOYEES
Workers who are happy or satisfied with their job always ensure that they give their all to their job. This factor is very integral to farm owners because it ensures high profitability.
Farm owners who get to relate to their workers offer perks and rest days will notice that their farm work is being done more with precision because their workers are very happy. However, there are cases when workers misuse freedom and get complacent, farm owners/managers should also learn how to relate to these workers.

3. MANAGING PRODUCTION VOLUME
Farm owners understand that the more volume of farm produces, the more revenue gotten, therefore dedication should be placed in this area of the farm business. Factors like weather, pests, level of soil nutrients, lack of machines to work on farms etc.
To ensure that the production volume is increased, farmers should understand how certain factors influence the level of production that comes from their farms and learn how to prepare against them or work to ensure that they adopt new practices to work against these factors.

4. MANAGING PRICE OF PRODUCE
Another effective method to ensure profit growth is to manage the price of farm produce. There are usually periods where the price of certain crops increases or decreases, farm owners should always monitor the market to take advantage of the best time to sell your product.
Farmers should create a marketing plan that will work with any change in price or demand of their produce, and to ensure this, proper monitoring of the market is integral.

5. IMPROVING FARM MACHINERY
Acquiring new farm equipment will help a farmer acquire more crop yield and ensure that there is no need to spend for a while. Farmers who invest in new machinery can save up costs incurred by the maintenance of old equipment and also spend less on fuel.

Practicing the methods mentioned above will offer improvements in revenue generation for farmers, so we advise that the points are taken into serious consideration.

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