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After reading @ Prime Periwinkle's reply to@ @ Marcus Aurelius' request for guidance, I decided to start this thread so that I may not be the faker she mentions after two years.
I joined this forum two years ago after reading TMFL. I had had a series of FTEs at my workplace and in my financial life that one of my goals was to become a millionaire and drive my life.
Since joining the forum, I have seen a massive transformation in my life, especially mindset-wise. When I first came here, I was asking if $240 should hold me hostage. I received lots of support and advice, some of which I implemented.
I am happy to announce that come next year around this time, I will no longer be held hostage by such a paltry amount.
HAVE I ROBBED A BANK, OR KILLED A EUROPEAN?
No! I have found an idea the execution of which is guaranteed to free me from the clutches of a job that no longer holds any attraction for me.
Is the idea SEXY?
It is the most unsexy, and that is what makes it a must-win.
Early this year, I changed my business from a small retail shop to a grocery store. My funds were pretty small, but my head was full of ideas garnered from this forum. The store is in the central district shopping center where retailers from all over the district shop. No MBA could have taught me the lessons I have since learned.
The most important one is that NO BUSINESS PLAN SURVIVES CONTACT WITH THE MARKET. I went in guns blazing ready to secure tenders from various schools for the supply of maize flour only to learn that I would need lots of capital to pull off such a feat.
In my introduction as Anon 05554, I mentioned that we as a family own agricultural land and we're beginning to earn more from the farm than from our day jobs. Because of the farm, we rarely buy food items. Hence, I didn't know that there was a big demand for dried cassava chips and high-quality cassava flour.
I launched my new business with half a tonne of beans, a tonne of maize,200kgs of millet, and 400kgs of dried cassava chips (all produced on my farm). Because I had produced them myself, and my mother taught us to produce clean food, the quality was out of this world.
Within two weeks, I had sold everything. It was then I appreciated the meaning of a productocracy. Referrals were coming in to the extent people started leaving their contacts so I could notify them when I brought in fresh supplies!
WHERE AM I GOING WITH THIS?
I have decided to grow cassava. A kilo of cassava flour sells for slightly less than a dollar and a cassava plant can at worst give one kilo. So, to make over $10k a year, I need to plant over 10000 cassava plants. An acre accommodates 4000 plants at a spacing of 1 meter by one meter. This means I need about three acres of land.
I have always grown cassava for home consumption. I know which variety yields more, which one makes a good dish, and which makes quality dry chips.
I have already planted around 2000 cassava plants and hope to hit the 10000 mark in August when the rainy season starts. I will use our land and even rent some of my inlaws'.
The major challenge will be how to dry such big quantities. I am looking into the possibility of constructing a solar dryer.
Uganda is facing a big food crisis with the population growing at a supersonic rate without a corresponding increase in agricultural investments. The price of food items has doubled and I don't expect that of cassava to go down any time soon.
I will be updating this thread whenever there is a new development. I want to look back two years from today and laugh at how small my dreams were.
I am looking at $100k a year as some big money to start with since I only make $240 a month as a teacher of English in a government secondary school.
I hope to leverage the fertile soils in my area, the fact that I already have a grocery store with a steady stream of customers, and the fact that farming comes naturally to me(I would rather spend the day chopping cassava than marking exam scripts).
My value skew will be unparalleled cleanliness and timely delivery since I will be drying it on my farm. (Currently, my neighbors order theirs from the capital).
If you have read this far, thank you. I have a lot to say, but typing on a phone has its limitations.
Looking forward to a year of growth and plenty of advice from those who know better. Good night good people.
I joined this forum two years ago after reading TMFL. I had had a series of FTEs at my workplace and in my financial life that one of my goals was to become a millionaire and drive my life.
Since joining the forum, I have seen a massive transformation in my life, especially mindset-wise. When I first came here, I was asking if $240 should hold me hostage. I received lots of support and advice, some of which I implemented.
I am happy to announce that come next year around this time, I will no longer be held hostage by such a paltry amount.
HAVE I ROBBED A BANK, OR KILLED A EUROPEAN?
No! I have found an idea the execution of which is guaranteed to free me from the clutches of a job that no longer holds any attraction for me.
Is the idea SEXY?
It is the most unsexy, and that is what makes it a must-win.
Early this year, I changed my business from a small retail shop to a grocery store. My funds were pretty small, but my head was full of ideas garnered from this forum. The store is in the central district shopping center where retailers from all over the district shop. No MBA could have taught me the lessons I have since learned.
The most important one is that NO BUSINESS PLAN SURVIVES CONTACT WITH THE MARKET. I went in guns blazing ready to secure tenders from various schools for the supply of maize flour only to learn that I would need lots of capital to pull off such a feat.
In my introduction as Anon 05554, I mentioned that we as a family own agricultural land and we're beginning to earn more from the farm than from our day jobs. Because of the farm, we rarely buy food items. Hence, I didn't know that there was a big demand for dried cassava chips and high-quality cassava flour.
I launched my new business with half a tonne of beans, a tonne of maize,200kgs of millet, and 400kgs of dried cassava chips (all produced on my farm). Because I had produced them myself, and my mother taught us to produce clean food, the quality was out of this world.
Within two weeks, I had sold everything. It was then I appreciated the meaning of a productocracy. Referrals were coming in to the extent people started leaving their contacts so I could notify them when I brought in fresh supplies!
WHERE AM I GOING WITH THIS?
I have decided to grow cassava. A kilo of cassava flour sells for slightly less than a dollar and a cassava plant can at worst give one kilo. So, to make over $10k a year, I need to plant over 10000 cassava plants. An acre accommodates 4000 plants at a spacing of 1 meter by one meter. This means I need about three acres of land.
I have always grown cassava for home consumption. I know which variety yields more, which one makes a good dish, and which makes quality dry chips.
I have already planted around 2000 cassava plants and hope to hit the 10000 mark in August when the rainy season starts. I will use our land and even rent some of my inlaws'.
The major challenge will be how to dry such big quantities. I am looking into the possibility of constructing a solar dryer.
Uganda is facing a big food crisis with the population growing at a supersonic rate without a corresponding increase in agricultural investments. The price of food items has doubled and I don't expect that of cassava to go down any time soon.
I will be updating this thread whenever there is a new development. I want to look back two years from today and laugh at how small my dreams were.
I am looking at $100k a year as some big money to start with since I only make $240 a month as a teacher of English in a government secondary school.
I hope to leverage the fertile soils in my area, the fact that I already have a grocery store with a steady stream of customers, and the fact that farming comes naturally to me(I would rather spend the day chopping cassava than marking exam scripts).
My value skew will be unparalleled cleanliness and timely delivery since I will be drying it on my farm. (Currently, my neighbors order theirs from the capital).
If you have read this far, thank you. I have a lot to say, but typing on a phone has its limitations.
Looking forward to a year of growth and plenty of advice from those who know better. Good night good people.
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