This blog is a follow on to my previous blog post ‘How to Start Poultry Farming in Nigeria’. Since that blog posts I’ve received a lot of messages asking me – “Why is poultry farming so lucrative?” “What is the future of poultry farming in Nigeria?” and “What is the most profitable way to start poultry farming in Nigeria?”
In this blog post I will try and answer these questions and more.
Modern Day Poultry Farming in Nigeria Poultry Farming has become one of the most lucrative Nigerian businesses, and is arguably the big thing in Nigerian agriculture. Many big businesses, entrepreneurs, retired uncles, job seekers and Nigerians living overseas are making inroads into the sector, either to pursue their keen interest in livestock farming or to rake in big money.
In the last decade Nigeria’s poultry farming industry has changed into a full-blown sustainable business sector, and contributed greatly to the nation’s economic stature.
Like me, there are numerous supporters of poultry farming in Nigeria, who in some way or another, are trying to draw focus and promote this old but growing sector, and highlight its benefits. The most notable feature of poultry farming is that it ensures phenomenal returns in a blink of an eye, but it is also sensitive. With a population of about 160 million, where most citizens consume poultry products on a regular basis, Nigeria is a lucrative market that continues to grow.
Why Choose Poultry Farming? One of the reasons behind the dramatic rise of poultry farming in Nigeria is the non-dependence on educational background. Every citizen can practice the occupation, irrespective of his or her educational status.
The profession can also be pursued with limited capital and resources, but huge return on investment is assured, if you are meticulous and diligent in how you set up and run your operations.
Another reason for the rising success of this field is the growing rate of chickens. A chicken becomes fully-developed and matures quite faster. For instance, a goat takes a time span of 2-3 years to mature completely, but within 28 weeks from birth, a chicken can reach a fit state and size that it can be sold at market.
Let’s take a deep look into the benefits of poultry farming in Nigeria
1. Reproduction Rate of Chickens: Business in Poultry Farming in Nigeria never leaves you barehanded because you never run out of stock. An average chicken hatches eggs almost every day and four times in a week. Some breed of chickens can produce around 325 eggs a year. By this account, your chickens will produce one egg a day that you can sell every day of the year. leaving out some dry days. If these figures are anything to go by, a chicken can give birth to another chicken twice in three days. Talking bigger, if you breed 500 layers, they will reproduce an astounding 12,000 chickens within a time gap of just 40 days.
2. Chickens Mature Faster: As discussed earlier, a baby chick becomes a full-grown, egg-bearing chicken in a jaw-dropping 28 weeks. This means a pullet is ready to be sold in market as a full-feathered chicken in just seven months. Taking into account such a fast-development process, a farmer can reap returns on investment within 34 weeks of the farm being in operation.
3. Large Markets: The demand for chicken never dies. In fact, it is always there and increasing. In Nigeria, a chest of smaller eggs is purchased for N500-N550, while the bigger ones demand an asking price of around N600-N650. A crate contains 30 eggs. Therefore, you will be receiving approximately N300,000 if you have 500 healthy chickens.
4. High Value, Good Price: Without a doubt! Raising your own flock of chicken will make you realize how lucrative poultry farming is in Nigeria. A customer in Nigeria can easily shell out N2000 – N2500 for a fertile layers chicken. Multiply the amount with the cost if you have 12000 layers in your farm. Now do you see how lucrative poultry farming is in Nigeria?
An old layer chicken in Nigeria costs around N1000 to N1200. If you had 500 old layers, you can make up to N600,000 residual income. Then use this money to reinvest to buy a new younger and more fertile flock of layers chicken. Every 12 to 24 months you can continue this cycle for continued success.
A 7-week broiler sells for N100.00 to N1200.00. A broiler aged 12 weeks and above will sell for N3000 to N4000.
4. A Rich Source of Protein: Poultry products are a tremendous source of protein, and a key nutrient for a healthy mind and body. Protein is essential for body functioning, energy and muscular development. Also, poultry products are delicious, great in taste and can be used in a range of Nigeria, African and worldwide dishes. For these reasons alone, it is safe to say that the demand for poultry products will never diminish.
For me, poultry farming is the best bet if your considering entering the lucrative world of agriculture. As long as you follow the basic rules that I outlined in my previous blog post, it is a clear-cut source of wealth.
Do you agree with the points that I’ve made in this blog post? Please share your thoughts and any experience you have had with poultry farming
Many successful businesses are started when the founder encounters a problem, and then embarks on a mission to find a solution. As we continue to increasingly produce, process, and consume information at a faster pace, the need to do it more effectively, efficiently and economically grows. This is a good thing for entrepreneurs, as it presents evolving opportunities to be innovative and find solutions.
The process of finding a solution will be frustrating, exhausting and can be the biggest learning experience for any entrepreneur. But the outcome can be life changing, and totally worth all the blood, sweat and tears.
Before you embark on this life-changing mission you must analyse the problem you’ve captured, and assess it objectively, ensuring that the solution is clearly linked to the problem, and the solution resolves that specific problem. Hiten Shah’s blog in Hitenism, Create products that people love by validating your idea first says – “Ideas are just a description of the solution to a problem. Converting your idea to a problem hypothesis enables you to stay focused on validating the idea instead of building the solution.
You don’t want to get stuck creating a solution and then searching for the problem that it solves. This situation is most common when people decide to solve a problem that they have themselves.” You have to carry out your market research to ensure that other people also share your problem.
“When creating a problem hypothesis start by describing the group of people you are targeting and what problem you think they have.”
[center]“I find out what the world needs. Then, I go ahead and invent It.” – Thomas Edison[/center]
Before you spend your hard earned cash validating your business idea, you should ask yourself the following questions: Is this a problem that others face? Does this problem have a solution? Am I capable or know people who are capable of creating a solution?
Once you’ve positively answered these questions, you can use these pieces of insight to hopefully guide you on your journey.
Start by solving a genuine problem. Sometimes we can get too focused and obsessed with our ideas. We believe that this idea is the ONE! When you have invested so much time in an idea it can be hard to be impartial. Ask yourself, is your problem only a problem for you or will it be universally beneficial?
Ask family and friends to test your product at its early stages, but don’t rely solely on their opinions because they may be reluctant to criticise. They also only represent a small proportion of your market, at most, and this won’t be extensive enough market research.
As entrepreneurs we can be very protective about our ideas. Once your idea has been developed to a secure stage, you should speak to potential customers you don’t know. Carry out actual product testing. Importantly you need to find out if your product is needed. Are potential customers willing to pay for it? If so, how much are they willing to pay. You can then make adjustments to your product and strategy in accordance to the feedback you receive.
Focus on customers Currently, there is a crooked misconception amongst entrepreneurs that to be successful you need to secure investment, and grow your business as soon as possible. This goes against the whole concept of entrepreneurship. Investment is a good thing, but you must ensure that your business is positioned correctly to take advantage, and meet the demands of investors. Do not become dependent on outside investment in order to survive. Focus on your customers for long-term survival.
Diana Kander’s article in Forbes, Forget Silicon Valley: Focus On Customers, Not Investors says “your key to economic independence isn’t reliance on outside investors; it’s the creation of a customer base that believes in you and your company.
Be resilient but flexible Most successful business people have failed at some point in their career. The likelihood is that you will also fail at some point. Once you’re in business, problems will present themselves, and test your determination. You’re going to succeed and fail at certain challenges. Keep focused on your goal, and don’t be afraid to modify your plan and approach to achieve this.
Most importantly you must learn and develop from your mistakes. Learn to cope with rejection, and pick yourself up when you’ve been knocked down.
Be passionate about your business It’s a lot easier, and enjoyable solving problems in an area you are passionate about. Those difficult periods become more of a challenge than a chore.
That infectious enthusiasm can sometimes be enough to promote, and sell your ideas to customers and investors. It will also keep you motivated to work those ridiculous, but necessary long hours in order to keep your ideas progressing, and ticking along.
Dropbox co-founder Drew Houston expressed a similar opinion in his 2013 MIT Commencement address, “The happiest and most successful people I know don’t just love what they do, they’re obsessed with solving an important problem, something that matters to them. They remind me of a dog chasing a tennis ball: their eyes go a little crazy, the leash snaps and they go bounding off, plowing through whatever gets in the way.”
“Nigerian business is booming”, “Nigerian business is growing”, these are comments you will see daily in international news, or in any Nigerian news portal. How to Successfully Finance Your Business But then, on the other hand, I get asked by a lot of Nigerian entrepreneurs – “Why won’t banks finance my business idea?” or “How can I get funding from Nigerian banks for my business?” And “Is the banking business culture in Nigeria different?” It’s simple – your business must be attractive, secure and demonstrating growth. The only way to show this is by keeping accurate and auditable records of your expenditure, operational activity and sales. One myth that I’d like to dismiss is that banks fund new businesses. Banks very rarely invest in, or loan money to, start-up businesses. But they do fund small businesses with operating history. Would you want your bank putting your money at risk, by investing your savings in new risky business ventures with no track record?
This humorous comment is harsh, but true:
“A bank is a place that will lend you money if you can prove that you don’t need It.” – Bob Hope
Why then did I say that banks do fund small business? If you’re business has been around for a few years it has enough history, projected business, stability and assets that can all serve as collateral. Once you have this structure in place a bank is more likely to award you a loan against your business, or personal collateral, such as home, car or savings.
Like you, a bank is a business, and they will ensure that they are protected from potential risk when lending to customers. Your personal savings should be the primary source of funding for your business. If you haven’t started already, start saving, launch your business, and demonstrate that it is secure. Then you can approach banks for a loan Nigerian banking is no different to other banking services around the world. The Nigerian industry approves loans based on statistics or information available to them as required by the Central Bank of Nigeria (CBN). These statistics determine your risk to the bank, therefore calculating how much you can borrow, for how long and the interest rates you will be charged.
How Much Money Do You Need? Be accurate in your estimation of what you need. What you want, what you need, and what you expect to receive are three separate values. How to Successfully Finance Your BusinessThis is not your opportunity to ask for ₦1,000,000 when you only need ₦70,000. The exact amount needed should be be clearly evidenced in your business plan. Refer back to your business plan, and answer the following question, which the bank will definitely ask you:
What will the money be spent on? • Buying supplies and inventory • Paying staff and suppliers • Equipment and machinery • Office equipment • Marketing your business OR • Purchasing/acquiring the business from it’s current owner
Limit the amount of huge payments you make when purchasing such items, or services. A business needs moving cash, and cash reserves to survive. If you pay big lump sums you are leaving your business vulnerable. Observe the suppliers payment terms. If the invoice states that payment is expected 30 days after invoice, then pay as late as possible. Don’t pay cash upfront if it is not necessary, and don’t be afraid to rent or lease certain items. This is common practice in today’s business environment
Next, identify what you own that can be used as collateral for your loans, because your bank will ask this question. The assets of your business or your personal assets, or both, can act as collateral, and secure most small business loans.
Some credit, such as credit cards can be granted on an unsecured basis. Unsecured means a loan not backed by any underlying asset or collateral. Examples of unsecured are: • Credit cards • Personal lines of credit • Charge card • Friends or relatives • Utility bill • Medical bills
Secured loan means that underlying assets or collateral back the loan. This protects the lender if you are unable to keep up with payments. Examples of secured loans are: • Computer loan • Home mortgage • Car loan or lease • Construction loan • Business loan
The amount you will receive, and terms of your loan will be determined by: • Number of years in business – This is your track record and is very important. The amount of years required can very in each bank. The industry standard is usually between two to three years. • Size of your company and the amount requested
How to Get the Money Know what your lender wants. Ask them if you are unsure. For a business loan, the most common things a lender needs to see are: • Business financial statements • Business tax returns • Business Plan with budget or projection • Personal financial statements • Personal tax returns
Be prepared to answer difficult questions about your business. Remember, this is an interview, and like any other interview be ready to highlight your performance both in the past and in the future. You are there to impress, and convince them that you are a safe investment.
Fully understand why you need the money, and be confident in explaining why, because you will be asked. “Because I need the money,” does not demonstrate the characteristics of a trustworthy businessperson.
Other things to consider: • Dress smart when attending meetings at the bank. I can’t stress this point hard enough. This is an interview, so arrive as if you are attending an interview. • Make sure your business plan is up to date, and looking presentable. • Communication is key, if at any point you run in to difficulty and cannot make a payment. Make sure you contact the bank to let them know. Offer them a solution or plan for immediate payment. • Be prepared to discuss any prior credit issues/problems. • Be realistic when discussing your business plan and vision. Banks deal with facts, and figures. They don’t want to hear how you plan to take over the world. They just want to know when they will receive their money
After You Get the Money How to Successfully Finance Your BusinessOnce you have been approved for a loan you might think that you are home and dry, well think again, this is the just the beginning. For me this is the most important part.
Make sure that you are a good customer, and stick to what has been agreed. This will ensure that the lender is flexible if you have any difficulties, and if you need to borrow again in the future it will be granted. More importantly, you are contractually obliged to stick to what has been agreed, so any breaches of contract could lead to legal proceeding.
After reinventing the wheel for myself time and time again I’ve come to realize that the secret to millennial success in the business world is a combination of grit and creative thinking. Here are the seven mental shifts I implemented to turbo-charge my growth.
1. Age is just a number.
Embrace your youth wholeheartedly. If you spin your age as an asset, which can be done in a variety of ways, it can be an extremely powerful differentiator. The moment you begin to give yourself an excuse for not being successful is the moment of almost certain failure.
If you believe you can really make it then you will make it. Besides, there is nothing people want to see more than a hard-working, intelligent and dedicated young professional who succeeds. Create a snowball of momentum that makes people want to be a part of your life.
2. Reinvest in yourself.
The safest investment I’ve ever made is in my future. Read at least 30 minutes a day, listen to relevant podcasts while driving and seek out mentors vigorously. You don’t just need to be a master in your field, you need to be a well-rounded genius capable of talking about any subject whether it is financial, political or sports related. Consume knowledge like air and put your pursuit of learning above all else.
I also believe that it is critically important to spoil yourself to a healthy extreme in order to reward your hard work and avoid burnout. Consider splurging on memorable experiences and luxuries that will enhance your lifestyle. I get a weekly massage like clockwork, and it is one of the best productivity hacks I employ.
3. Avoid decision fatigue.
Attention is a finite daily resource and can be a bottleneck on productivity. No matter the mental stamina developed over time, there is always going to be a threshold where you break down and your remaining efforts for the day become suboptimal.
Conserve your mental power by making easily reversible decisions as quickly as possible and aggressively planning recurring actions so you can execute simple tasks on autopilot. I know what I am wearing to work and eating for breakfast each day next week. Do you?
4. Build a resilient mind.
The biggest differentiator between mediocrity and meteoric success is the ability to work productively for hours at a time. These long stretches are when important work is almost exclusively completed. Focus is paramount and, without intentionally developing mental stamina, you won’t be able to effectively compete with those who have systematically built up their endurance over decades in the business world.
Fast track your skills by being mindful of distractions and recognizing when you begin to wander out of focus. Perform a thorough analysis of your daily activities each night and aggressively seek opportunities for improvement.
5. Think big. Be big.
The science behind goal setting and its remarkable ability to accelerate success is infallible. If you don’t already have your one-, five- and 10-year goals written out and visible to you on a daily basis, do so right now. I read mine the second I wake up every single morning. Now ask yourself, what would have to happen to accomplish your 10-year goals in just one year?
The inherent power in maintaining consistency with your acknowledged goals can work both positively and negatively, and is cause for concern if you anchor yourself to a slower timeline of achievement. Be mindful and diligent in charting an optimal path that pushes you to your limit.
6. Be methodical.
Plan your work and then work your plan. Perhaps my biggest breakthrough was large-scale automation of my marketing systems. I created a process that allowed me to quintuple my marketing output while increasing my conversion rate considerably.
The simplest way to put your own content plan in motion is to create a multi-step campaign that touches a prospect through a variety of different mediums every week for at least a month. Follow a logical order and craft your content in a persistent way, while never becoming annoying.
Not in a sales role? You can take a similar approach to any analytical, creative or administrative position by developing rigid organizational systems that help improve your efficiency when faced with repetitive tasks.
7. Believe in yourself.
If not you, then who? Someone has to make it, and nothing is stopping you from being the person who accomplishes your wildest dreams. Nearly every person who has ever failed has had an excuse. Successful people have stories of the challenges that they overcame with creative solutions. The moment you confidently feel that there is nothing you can’t learn or develop to solve the most complex of problems is the moment of guaranteed greatness.
If you still aren’t sure how to begin, start with a promise to work towards the achievement of consistent excellence each moment of every day. This is the basic building block and mentality with which I am building my career.
Keep it simple and remember that success is not an entitlement. If you really want to excel, you have to get out there and earn it every day for the rest of your life.
To fully understand what persuasion is, it helps to begin with what it is not.
Derek Rucker is a professor of marketing at Northwestern’s Kellogg School of Management whose research focuses on persuasion and consumer behavior. He is also the father of an 8-year-old girl with an iPad. Because he limits her screen time to an hour a day, he frequently tells her to turn off the device and put it away. She usually listens. But is that persuasion?
Not really. “She still believes she should be able to use the iPad as much as she wants,” Rucker says. Yes, he has influenced her actions — but it stemmed from his parental authority, not his ability to change her beliefs.
Persuasion, meanwhile, requires the ability to alter not just action but attitude. The difference is subtle, but important: A cereal brand that slashes its prices may gain new customers, but it hasn’t fundamentally changed how it is perceived.
It’s a distinction that gets at why persuasion can be so tricky, often requiring time, skill and a nuanced reading of multiple moving parts. But for brands looking to make, improve or reconfigure their image with consumers, there are few tools more valuable.
Here are three things to consider when attempting to craft a persuasive message: 1. Know your message.
In the early to mid 2000s, male grooming product company Old Spice’s marketing strategy revolved around projecting sex appeal — wear Old Spice, get the girl. The problem, Rucker says, was that Axe also already relied on that same message. That brand had a firm grasp on the “sexy” corner of the market.
EG:- Old Spice was losing ground, so the company tried another approach in 2010. Instead of projecting sex appeal, its new ad campaigns projected an overtly humorous take on masculinity and confidence, speaking to men and women consumers alike. Take the below ad, part of Old Spice’s “Smell Like a Man, Man” campaign, in which the chiseled actor Isaiah Mustafa delivers the following line, straight-faced and shirtless, on a beach: “Anything is possible when your man smells like Old Spice and not a lady.” It became a viral hit. By shifting strategies, Old Spice emerged from under Axe’s shadow.
Certain messages can be a harder sell simply because a competitor is already selling them convincingly. “Part of your job is reading the board,” Rucker says. For him, the most enjoyable aspect of constructing a marketing strategy is taking additional players’ tactics into consideration.
Persuading consumers isn’t structured like a debate. It’s rarely that clean. Instead, it’s a competition to gain attention, good will and dollars in a sea of competing voices.
Old Spice wasn’t successful at persuading consumers to buy its products by convincing them it had more sex appeal than Axe. So it recalibrated and changed strategies.
“[Old Spice] tried to get there from one route, couldn’t do it, and then tried a different way,” Rucker says. “That’s the fun thing about persuasion — there’s rarely a single message that’s the one right message.”
2. Know your audience.
A message’s persuasiveness also depends on who is listening and how they are doing so.
People exist on a spectrum, Rucker says. Some scrutinize every message, others make snap judgments based on peripheral cues and most fall somewhere in between. Fact-based messages from experts tend to resonate with the former group, while messages from charismatic sources are a good bet for persuading the latter.
Context also matters, of course. The more engaged a person is with the topic and content of a message, the more likely he or she is to look past surface charisma to evaluate its objective strength. This makes intuitive sense, Rucker says, because an audience’s level of interest in a message tends to be positively correlated with the amount of attention they pay it.
The situation matters, too. Distractions, fatigue and a lack of time are compounding factors that can slide an audience’s receptiveness away from quality towards quantity.
For a brand, this means identifying its audience’s general position on the continuum and crafting persuasive strategies accordingly. If the audience is engaged, “stick to arguments that are strong.” If they are distracted or disinterested, “you should definitely throw in everything.” 3. Know your competition.
Apple is a very sophisticated persuader, Rucker says, because its strategy employs both substance and charisma to appeal to consumers on multiple levels. Take the rollout of the Apple Watch — the campaign began with ads that emphasized the wearable’s functionality, and then moved into a series of ads that focused on the device’s attractive design and lifestyle appeal.
“It was a very clever move strategically,” Rucker says. “Remember: competition matters.” The two-pronged approach meant that smartwatch manufacturers such as Pebble, Samsung and Google “had to beat Apple not only on the functionality, but on image association as well.”
Historically, Apple has been masterful in generating consumer confidence around the superiority of its products. While likeability is an asset, a brand’s ability to inspire conviction is an invaluable competitive advantage. It’s far easier to convince consumers to try a new product than it is to convince them to abandon a product they believe in, Rucker says.
“As people become more confident, it becomes increasingly difficult to change their beliefs,” he says. They will dismiss conflicting information and approach challenges with suspicion, which means competing brands must first erode consumer confidence before they can successfully sell their own message.
Hope this inspire you to never give up as an Entrepreneur.
[b] You don’t have to be great to start but you have to START to be great.
You were born to win, but to be a winner you must plan to win, prepare to win, and expect to win.
There are no traffic jams on the extra mile.
Its not what happens to you that determines how far you will go in life; it is how you handle what happens to you.
What you GET by achieving your goals is not near as important as what you BECOME by achieving your goals.
The foundational stones for a balanced success are honesty, character, integrity, faith, love and loyalty.
You were designed for accomplishment, engineered for success and endowed with the seeds of greatness.
You never know when a moment and a few sincere words will have an impact on a life.
The chief cause of failure and unhappiness is trading what you want most for what you want right now.
Failure is a detour, not a dead-end street.
Expect the best. Prepare for the worst. Capitalize on what comes.
Rich people have small TVs and big libraries, and poor people have small libraries and big TVs.
Lack of direction, not lack of time, is the problem. We all have twenty-four hour days.
When obstacles arise, you change your direction to reach your goal; you do not change your decision to get there.
You are what you are and you are where you are because of what has gone into your mind. You change what you are and you change where you are by changing what goes into your mind.
Attitude, not Aptitude, determines Altitude.
Success is the doing, not the getting; in the trying, not the triumph. Success is a personal standard, reaching for the highest that is in us, becoming all that we can be. If we do our best, we are a success.
Outstanding people have one thing in common: an absolute sense of mission. [/b]
Its Finally here, the visual to Mavins first lady “Tiwa Savage” Recent effort “Standing Ovation” featuring YBNL legendary “Olamide”, the video shot by Clarence peters.
Agriculture / Top 5 Reasons Why Poultry Farming Is So Lucrative In Nigeria- Marvejohndaily.com by vascable: 8:13pm On Jan 22, 2016 
