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Research and Planning Supporting Agribusiness Entrepreneurship in Kentucky. Rich Laing Kentucky Center for Agriculture & Rural Development (KCARD). Kentucky Agriculture. Kentucky’s primary natural resource base originates in Agriculture environment, including its land and people.
Kentucky Center for Agriculture & Rural Development (KCARD)
Kentucky’s primary natural resource base originates in Agriculture
environment, including its land and people.
Kentucky has not take full advantage of their natural resources.
30 percent of the state’s economic activity (both direct and indirect)
is agriculture-based related.
Continued sustainable success in Agriculture is dependant upon
the success of Agribusiness Entrepreneurs
Keys to the Agribusiness Entrepreneurs success:
Currently we have just finished Tornado Season
AG Entrepreneur thought process can be compared to
·Revolving, high speed process.
·Not dangerous until it touches down
·If it was slowed down, the danger and risk diminish
If they move forward with high speed thought process
that’s not validated and controlled, they face risks and
danger to success.
Major Opportunity is to SLOW DOWN and thoroughly research and verify their visions.
Confusion– Too Many Doors to Knock On
Emphasis has been on Implementation
Business Plan development and Financing
Validation, Research / Development and Planning
Research and Development, Feasibility assessment and simulation,
strategic planning and business development.
Major Opportunity: Research and Assess Business feasibility
of both the idea and individual before considering implementation!
Confirmed during the 2008 UK Study of the Ag Development Board.
The Fragmented World
of Agribusiness Entrepreneurs
External information for research is not clearly organized in a
structured, user friendly format.
External informational service providers are not aligned.
External informational support networks (business and
professional) are not aligned.
External informational mentoring availability is not formalized
RESEARCH and PLANNING
Improve the resource capabilities specific to information
research utilization directly supporting agribusiness
Agribusiness Entrepreneur’s User Guide to
Research and Planning in Kentucky
Every entrepreneur has a unique personality profile made up
of various personality traits. They can be described as:
The Improver: means to improve the world.
The Advisor: provide a high level of assistance and advice to customers.
The Superstar: The business is centered around the individual’s charisma and high
The Artist: Reserved but highly creative type.
The Visionary: business built based on the future vision and thoughts of the
The Analyst: focus on fixing problems in a systematic way.
The Fireball: full of life, energy and optimism….get it done attitude in a fun playful
The Hero: incredible will and ability to lead the world and your business through any
challenge….the essence of entrepreneurship.
The Healer: provide nurturing and harmony to your business….uncanny ability to
survive and persist with an inner calm.
There are various resources that support agribusiness
entrepreneurial efforts. These business service and support
organizations can be grouped into four categories:
Refer to the User Document