The best time to invest in products, services and markets is when you have the resources needed to commit to the process. And if you have no back up plans, the second best time is now.
Surviving as an independent or small business is tough. Agricultural and forestry entrepreneurs should recognize the survival of the fittest and tap into the network of small- and micro-business experience.
A lesson from Dr. Seuss and the rise and fall of BC’s ginseng industry in protecting your market niche.
The latest strategy in the tree-fruit business to develop niche markets is in the form of patent-protected “club” varieties. It remains to be seen is if this model will work in the long run or will just shift competition from niche vs commodity apples, to several club varieties competing for shelf space.
Diversification can be a double edged sword. Know yourself and your capacities to find winning business ideas.