Doing a little profitability research to make sure that what you plan to sell is going to bring you an income will save you so much time and heartache. You do not want to try and outsell someone who is already an established breeder who is within a 30min drive from your location. Now, if you are selling a product online, the location will not be as much of an issue. If you are good at what you do, customers will come to you regardless of the competition. Some will resonate with you and your personality. Some people will resonate with others. It’s just how it goes. Brian storm some ideas of what you would like to do. What seems interesting, what do you love to do?

 

Make a List

Think of as many ideas as you can to make an income from the same animal and write them down. Have I confused you yet? Here is what I mean… Let’s take a dairy goat for starters. You can sell the kids (babies) that she produces, her milk, you can make products from the milk such as creams and salves. You can sell her waist as garden compost.  See what I mean? You want to get the most bang for your buck in selling everything you possibly can from one animal.

Take your top five.

Out of the list, you just made, pick the first five that jump out at you on the list. Which ones seem like you would enjoy doing the most? Also which ones would take you the least amount of time and effort to get started in? Now take those five and look up these things about each of them..

On Craig’s List

•Season you are researching (spring, summer, fall, winter)
•Number of listings within 50min of you.
•Number of listings that are 1-2 hours away from you.
•Highest price found with comparable value.
•Lowest price found with comparable value.

 

Google search (websites)

•Season you are researching (spring, summer, fall, winter)
•Number of listings within 50min of you.
•Number of listings that are 1-2 hours away from you.
•Highest price found with comparable value.
•Lowest price found with comparable value.
•Does this site look current?

 

Now that you have an idea of what you could ask for your products you should find out how much it is going to cost you on a monthly basis as well as how much to get started.

Monthly Expenses

•Feed
•Supplies
•Animal care
•Maintenance

 

Getting Started

•Projects to build
•Pens to be made
•Building supplies

 

Once you have done these exercised for each of the items on your top five, you need to consider the long term. Are these income streams going to move your business to your long-term goals? Are they moving your business forward to the place you want it to be in 3 to 5 years?

If your answer is no:

To those questions then you should look into starting with something else. HOWEVER, if you are starting this business venture to get your income started and plan to back out of that revenue stream then that should be the only exception. If you do not love the work that you do, you will end up burnt out and your business and family will suffer for it.

If your answer was yes:

Then take your top two choices of the five topics you researched and start with those. Never ever try to do more than two new projects at one time. You will end up overworked and not able to do those project to the best of your ability. Getting the word out for more than one or two projects or products at a time can be very difficult.

Remember to take it one step at a time. It will not happen overnight. If you take the time to build a solid foundation, your business will be so much more rewarding and worth the effort in the long run

If you feel like you need a little extra help, Ok even if you need a lot of help.. It is Ok. That is what I am here for. Schedule an appointment with me and we can see where you are and where you want to go. Then lay a plan for you to have a successful entrepreneurial journey.

 

 

A Chick And Her Garden

 

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