How to Start a Poultry Farm Without Risking a Financial Meltdown

Sure, starting any business let alone poultry farming requires you to take some risks but is it really necessary to gamble your financial security in the hope of succeeding at poultry farming? The answer is no. Please follow me as I describe some simple strategies through which you can start a poultry farm without risking going bankrupt.

1. Sort out your finances: You definitely cannot succeed in poultry farming if you lack the fundamental principle, financial discipline. This means you have to perfect the art of financial disciple i.e. living below your means – don’t spend more than or equal to what you earn every month. Trust me, if you cannot manage the little monthly paycheck you get from your job, how do you think you can manage a business as financially complex as a poultry farm.
2. Learn how to save money: I know, it is not very easy to save money but what we have learnt from this COVID-19 pandemic is that jobs could be lost at any moment and one way to protect yourself from such emergencies is to have a savings cushion. So let’s assume you make GH₵ 1,000 per month, your goal should be to save GH₵ 300 per month until you have 6 months worth of expenses saved up. That means if you save GH₵ 300 per month, you are going to have GH₵ 4200 saved up in 14 months.
3. Start investing in your poultry farm: After you have saved up six months of your expenses stop saving money because saving money at this point is losing since inflation reduces the value of our currency every year but rather you can start investing in your poultry farm. At this point, you are not afraid of taking the risk because you are assured of solid six-month protection in case things go wrong.

Conclusion

There are many people out there who would have loved to start their poultry farms but are scared of destroying their financial well-being in an attempt to run a poultry farm. Things don’t need to be that way since you can carefully prepare a savings cushion to save you from any financial disaster so that you can freely pursue your dreams.