AssalamuAlaikum & Greetings Everyone!
It's me @amjadsharif
From #pakistan

I am really excited that season 20 has started, now we all can participate in this season and learn more about the knowledge that we don't know. Thank you @dov11 and @aviral123 bring this amazing engagement for me and others.

_{Canva design by amjadsharif}

Question #1- Are you planning to start a business or already in business?

I have started my Business in agriculture sector, and Alhamdulillah it is going well. Agriculture sector is not only important for the Economy of our country but also has numerous business opportunities. I chose this field because I was interested in Agriculture and saw a good opportunity to serve the country through it.

My Business consists of various agricultural products and services including cultivation of crops sale of seeds, supply of Agricultural implements and consultancy to farmers. I initially started on a Small scale but over time through my hard work and strategy I have expanded my business.

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Doing business in agriculture is not easy as it comes with many difficulties such as climatic conditions fluctuations in agricultural production and market problems. But I faced these challenges with patience and always looked for new ways so that I could save my business from these difficulties.

I have used modern technology on my lands to increase the yield and improve the quality of the crops. Besides, I have also trained farmers to adopt modern methods so that they too can increase their production and improve their income.

I am trying to further expand my business and start new ventures. I am working on various projects like Organic farming Modern irrigation system and processing of agricultural products so that I can reach more customers and introduce my business nationally and internationally.

Thanks to Allah, my hard work is paying off, and I am doing everything possible to further develop my business. I pray that my business will be more successful and that I can contribute to the agricultural development of our country.

Question #2- Keeping in mind that you can start your business alone or on a partnership basis, what is your idea of your business model? Describe in 200- 250 words.

Starting a Business Two Basic Options

To start a business model, we have two basic options: we can run it alone or on a partnership basis. Both have their advantages and challenges.

• Individual Business Full Control and Responsibility

If you start a solo business, we have complete control. Every decision is in our hands, and we have full rights to the profits too. In this model we have to dedicate yourself completely in every matter. We have to take care of every aspect, such as Finance marketing, product development, and customer relations. The advantage of this is that you don't have to face differences in decision-making with anyone. But the challenge is that all the responsibility is on our shoulders and we have to face any losses alone.

• Partnership-Based Business Sharing Resources and Experiences

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On the other hand, if we start a business on a partnership basis, we have more resources, experiences, and ideas. In partnership you get the benefit of different skills which increases the chances of business growth. The work is divided between the partners, which reduces the burden on one person and also saves time. But the challenge in this model is that you have to make every decision together with the partners and disagreements can have a negative impact on business growth.

• The ultimate Choice the Success of Your Business Model

In my personal opinion, if we have the experience and Resources it is better to start a business alone so that we have full control. But if we feel we need additional resources and skills, A partnership may be a great option. The success of every business model depends on your planning hard work, and market conditions.

Question #3- Keeping in mind partnership businesses have both advantages and disadvantages, what is your idea of your business model? Describe in up to 200-250 words.

Business Model of Partnership in Agriculture Sector

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Partnerships can bring both advantages and disadvantages to a Business so careful planning is essential when creating a business Model. Partnerships can play an important role, especially in the Agriculture sector.

• Investment Opportunities

Partnerships increase investment opportunities through different partners. As a result, financial resources are easily available for business development. For example, the experience and financial resources of different partners in agribusiness can be used to establish new farms or purchase advanced agricultural technologies.

• Difficulties in Decision Making

Each partner in a partnership has their own ideas and interests, which can make it difficult to make joint decisions. The business model emphasizes establishing a strong communication system between partners to help resolve issues and minimize differences.

• Distribution of Profits

A fair distribution of profits is essential in a partnership. The business model will have a transparent system of profit sharing, in which the share of each partner will be determined according to their investment and contribution.

• Risk Strategy

Strategies such as legal contracts insurance policies and risk Management plans will be implemented in the business model to mitigate partnership risks.

• The Result

The business model is thoroughly planned to maximize the benefits of the partnership and minimize the losses to ensure the growth and sustainability of the agribusiness.

Individual method

• Advantages

1. Freedom in decision making, Individual can make his own decisions.

1. Full benefit of profits, All profits are owned by self.

• Disadvantages

1. Financial Burden: All expenses and damages are to be borne by oneself.

1. Lack of skills: Not everyone has all the technical and managerial skills.

Partnership Method

• Advantages

1. Resource Sharing: Facilitation of burden sharing of financial and material resources.

1. Skill matching: Benefit from different skills and experiences.

• Disadvantages

1. Difficulty in decision making: Differences may arise between partners.

1. Profit sharing: Sharing of profit, which is not done in individual way.

#Question #4- You are in a business now and doing well; let's know what your plans are and what efforts you are making to expand your business for the long term. Will you do it on your own or hire professionals?

Business Development and Future Planning

My business is booming now and it is important for you to ensure its growth for the long term. To achieve this goal I will need to take several important steps.

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• The First Step is to Revise and Refine my Business Strategy I have to update my strategy according to the market changes and new trends so that my business can stay in demand. By analyzing Market trends you can introduce new products or services that meet the needs of market.

• The Second Step is to Hire Professionals Even though I have set my business on the path to success hiring professional advisors and experts can help me achieve even more success. I can hire financial advisors marketing experts or business development consultants to help me plan for the future.

• The Third Step is Building my Team Without a strong and skilled team, my business cannot grow. I need to find people who not only understand the vision of my Business but also can inject new passion and energy into it.

• The Last but Most Important Step is to Strengthen the Financial Position of my Business It is important to manage my financial resources well and be prepared to face any financial crisis.

All these steps will help me to make my business successful for long term, and with my hard work and understanding your business can reach new heights.

Conclusion

Both individual and cooperative approaches to agriculture have their advantages and disadvantages. The sole proprietorship offers freedom and the opportunity to become a sole proprietor, but may face financial burdens and a lack of expertise. On the other hand, the participatory approach makes it possible to share resources and expertise, but faces difficulties in decision making and profit sharing. A farmer should choose the best of the two according to his resources, objectives and circumstances.

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This is my entry, I would like to invite @josepha, @owulama and @chant to participate in it.

Thank You