ISO 9001:2015 CERTIFIED

PIG FARMING
AS AN ENTERPRISE
 ISO 9001:2015 CERTIFIED

INTRODUCTION TO ENTERPRENEURSHIP

1
Introduction

This module entitled “Pig Farming as An Enterprise” contains the different parts:

- introduction to entrepreneurship
- making a business plan
- accessing the market for your products
- assessment of your farm as an enterprise – looking at the technical and financial
aspects
- managing your people
- accessing possible credit services and facilities

In this module, you will not only be looking at the

production and financial performance of your pig
farm but more importantly, you will learn how to
become a real entrepreneur.

How to become a real good entrepreneur is a big

question! And that is what we try to answer as
we go along!

But always remember that successful

entrepreneurs are not BORN, they are MADE!

As one successful entrepreneur said, “In

business, TIME is MONEY! The longer you wait,
the more you lose.

YOU have to be the FIRST!

YOU have to be FAST!
YOU have to be FOCUSED!

2
What is Entrepreneurship?

• It is an activity or a process of planning, organizing and putting together all the

resources required to bring a new enterprise to existence and to run and manage
it on a long term basis - UP ISSI

Entrepreneurial skills are essential for the success of the farm business. Farms that
possess human resources with exceptional skills can have a long-term focus and are
more likely to use their skills to take advantage of emerging opportunities.

Entrepreneurship involves seeking and trying new ways to develop and improve
successful businesses.

Entrepreneurship involves focusing on innovating, assessing risks/rewards of a new

venture, searching for opportunities, and seeking new information.

3
Rewards of Going into Business or Entrepreneurship

• Having unlimited opportunity

to make money.

When you have your own business, you

will most certainly have unlimited
potential to earn money. How much
money you earn depends on the time
and effort you put into your enterprise.
Successful entrepreneurs have earned
their wealth and prestige through hard
work and by having the right product for
the right market at the right time.

• Being your own boss.

As manager of your business, you make the decisions for your enterprise and take full
responsibility for these. The quality of these decisions will translate into either gain or loss for
your business. Being your own boss means you are in control of your future. You have a better
grasp of what you want to be.

• Tapping your creativity.

A business usually starts out as an idea. You will have the opportunity to harness this creativity
and turn your idea into products and processes.

• Overcoming challenges and finding fulfillment.

Starting a business is by itself an accomplishment. Running a business tests an entrepreneur’s

capability in securing and managing resources. How well a business turns out depends on the
owner’s ability to face challenges and overcome difficulties.

4
 • Helping others.

In the process of running a business, an entrepreneur employs workers, and pays them
income which improves their lives. An entrepreneur who succeeds and grows also helps
suppliers, sub-contractors, dealers and other businesses connected to him succeed and grow
too.

• Building an entrepreneurial legacy.

A business can be a lasting legacy to the family. It can ensure employment for some members
of the family. It can create an enterprising culture than can be handed down through the
generations.

Risks of Going into Business or Entrepreneurship

• Possibility of failure.

There is always the possibility of

failure – a single wrong business
decision can bring a business to
bankruptcy.

• Unpredictable business
conditions.

A small business is vulnerable to

sudden changes in the business
environment. In a fast-paced
industry, a small firm may not have
the financial capability or the
organizational capacity to respond
adequately to new opportunities and
their related problems.

• Long hours of work

A prospective entrepreneur must be ready to spend most if not all his waking hours in the
business. Also, family time and personal affairs may be sacrificed.

5
 • Unwanted or unexpected responsibilities.

The entrepreneur may eventually find himself saddled with management responsibilities he
did not bargain for.

Who is an Entrepreneur?

• An entrepreneur is one who creates wealth by owning and managing a business

profitably out of limited personal resources. An entrepreneur is not merely looking
at profits but for opportunities as well.

• An individual who establishes and manages a business for the principal purpose of
profit and growth; characterized principally by innovative behavior, and employs
strategic management practices in the business - ILO Publication

• Combining economic factors ( land, labor, capital, technology ) to initiate changes

in the production of goods and services - Wilken

6
What Motivates a Person to Become Entrepreneur?

• Early childhood experience – even when they were still young, entrepreneurs are
exposed to hard work and are encouraged to achieve.

• Desire for independence – entrepreneurs often dislike being dependent on others

or not being free to do what they want to accomplish.

• Frustration with traditional careers – because of low career progress, inability to

make needed changes, low wages or office politics, entrepreneurs are typically not
happy working in a business organization which they do not own or control.

• Challenge and excitement of owning a business – the potential success of a

business enterprise drives entrepreneurs, making them enthusiastic and energetic
about what they do.

• Effective role models – made entrepreneurs usually have been influenced and
motivated by the example of another successful entrepreneur who is looked upon
as a hero or inspiration.

Tips on What a Beginning Entrepreneur Should Do to Succeed

• Create a clear picture of goals or what you want to accomplish

• Translate goals into realistic plans and practical steps

• Develop good relationship and network with successful entrepreneurs

• Take care of your business by attending trainings and seminars which will
enhance your skills, competencies and broaden your perspective

• Learn to innovate which will allow you to perform otherwise common or

ordinary tasks distinctively and differently

• Be alert in turning opportunities to marketable goods and services

• Balance family and business demands

7
What are the Characteristics of an Entrepreneur?

§ Positive self-esteem
§ Positive self-confidence
§ Self-discipline
§ Independence
§ Forward Looking
§ Hardworking/industrious
§ Systematic
§ Resourceful
§ Open-minded
High value for work

What are the Entrepreneurial Skills that He Must Possess?

Personal
§ Innovative
§ Has initiative
§ Risk taker
§ Accepts challenges
§ Has the ability to deal with the unknown with ease
§ Responsible
§ Seeks opportunities
§ Positive thinker

Interpersonal
§ Interacting with others effectively
§ Communicating effectively
§ Negotiating
§ Influencing people
§ Demonstrating leadership

Process
§ Ability to plan and organize
§ Ability to analyze, synthesize and evaluate
§ Ability to execute the plan
§ Ability to make decisions

8
Personal Entrepreneurial Competencies ( PECs )

An intensive research conducted in selected countries worldwide by the Management

Systems International ( MSI ) McBer Team has identified ten key personal
entrepreneurial characteristics that separate successful from unsuccessful ones.

Achievement Competencies

Opportunity seeking
• Sees and acts on new business opportunities.
• Seizes unusual opportunities to obtain financing, equipment, land,
workspace, assistance, etc.

Persistence
• Takes repeated or different actions to overcome an obstacle.
• Makes personal sacrifice or expends extraordinary efforts to complete a
job.
• Sticks with own judgment in the face of opposition or early lack of success.

Commitment to work contract

• Accepts full responsibility for problems in completing a job for customers.
• Pitches in workers, or their place to get the job done. Expresses a concern
for satisfying a customer.

Demand for quality and efficiency

• Acts to do something that meets or beats existing standards of excellence
or improve on past performance.
• Strives to do things better, faster and cheaper.

Risk taking
• Takes what he or she perceives to be moderate risks.
• States a preference for situations that involve moderate risks.

Planning Competence

Goal setting
• Objective in setting his goals which are attainable and measured through
verifiable indicators.
• Sets goals as guide to motivate himself in working it out.

9
Information seeking
• Strives to gather effective and information helpful in carrying out his
endeavor.
• Attends trainings and seminars to improve his efficiency in managing his
enterprise.

Systematic planning and monitoring

• Plans carefully before engaging in his venture.
• Once established, monitors the progress and evaluate the efficiency of
his enterprise to make adjustments needed.
Persuading and networking
• Uses deliberate strategies to influence or persuade others.
• Uses business and personal contacts to accomplish own objectives.

Self-confidence
• Has long belief in self and own abilities.
• Expresses confidence in own ability to complete a difficult tasks or meet a
challenge.

In this module, the concepts that will be presented and discussed are more of analysis
and making decisions. As we go along with some workshops, the participant will think
as an entrepreneur and what to do with the results afterwards.

10
ISO 9001:2015 CERTIFIED

48