Erik Larson writes about the job market, resume improvement, and career advice
Starting a business in the countryside is both bold and exciting. Bold because very few people would choose the countryside. Exciting because the countryside presents numerous market niches with a fast evolving market.
Doing business in the countryside, just like any other location calls for both intensive and extensive research about everything. This ranges from the industry the business will be involved in, the type of business, the kind of market the business will operate in and the seasonality and timescales to operate in. These decisions are summarized in the following steps of researching and strategically planning for your business in the countryside.
Step 1: Finding your business idea and opportunity
Before settling on a business idea, it is advisable to consider other options with the aim of getting a broader view into to the market. Coming up with all the possible ideas is the first step. Make your list exhaustive and proceed by screening the ideas and eliminating to make sure the one you settle for meets a need, has a potential market and can earn a good profit margin. The financial viability of the idea is a key factor, involving startup cost, running costs and expected income.
Step 2: Business planning
Business has four key areas that need to be planned for:
Production; all the activities involved in converting raw materials into finished goods are planned for at this point. The end product, raw materials, labor, and machinery, are found here.
Marketing; how the product leaves the place of production to where the consumer is. It involves pricing, packaging, advertising, and branding.
Management; this forms the pivot point for all the other plans. Controlling, coordination and organization are planned for here.
Financial; bookkeeping, cash management, banking system and profit distribution is planned for here.
The business plan; it is a detailed documented plan of how the business intends to be run. Its present and future outlook, running costs and expected profits from the business.
Step 3: Startup
The business can commence operations upon receiving the funding needed for implementing the business plan.
Step 4: Monitoring
It's the process of comparing the actual state of the business with the planned or ideal condition
Advantages starting a business in the countryside
The countryside has so much to offer a business operating within it, including low cost of raw materials in the case of agricultural produce, land availability and room for expansion, low or no competition in the market, a wide range of market niches which allow for diversification in the business operation ,provides an enabling environment for growth in the business and it necessitates creativity and technological innovation as the market keeps opening up.
How to overcome challenges while starting a business in the countryside
Starting a business in the countryside comes with both opportunities and challenges. While opportunities act as incentives to entrepreneurs in the countryside, Challenges call for prudence in handling them for one to make the most out of their business.
Slow broadband speed. Unless it is addressed, slow internet connection slows down business and may lead to losses. This can be addressed by using a wireless internet that is more efficient in the countryside
Low supply of skilled personnel. Potential employees might not be willing to commute, leave alone moving to the countryside. This can be solved by working with local training centers to employ fresh graduates before they move to urban areas.
Poor networking. The small number of already existing businesses coupled with less advanced infrastructure makes networking almost impossible. This can be addressed by going online and running an active website for the business. Such services can be outsourced in case the business lacks skilled employees to do it.