In the pursuit of diversity and new markets, a North Dakota producer thinks outside of the box in the development of a unique new business enterprise for his farm. In conjunction with North Dakota State University Extension Service, the North Dakota Small Business Development Center, and other key professionals, the producer was able to create a winning team of highly networked professionals to advance his project. Through this developed network, the producer received professional advice on a business plan, financial analysis, market analysis, concept development, engineering assistance, legal assistance, business management, production methods, timely research, and capital acquisition.
This case study focuses on the actual events encountered by the producer and the professionals. While this project encountered many set-backs, working as a team, the professionals have overcome the challenges and advanced the project. As a result of the struggles with this project, the team has implemented and developed a successful guide for other professionals to utilize when working with producers. With no formal guides available, this case study models the steps necessary and a timeline for other professionals to utilize in assisting entrepreneurs to succeed in creating their unique business enterprise.
The workshop participant will hear the challenges the professionals encountered with this project and solutions to establishing this unique agricultural enterprise. The participants will be encouraged to be open-minded and establish networks with resources already available to them.
|Conference||2011 Extension Risk Management Education National Conference|
|Presentation Type||60-Minute Concurrent|