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What Factors Should a Successful Cashew Nut Trader

A Cashew nut Trader, an individual or group involved in a cashew Nut business should incorporate the following practices  to  gain maximum profit:

•  Clearly define the idea/vision for making money
•  Research all aspects of the cashew business;  become an expert in cashew before investing
•  Collect information on the local and export market (who is buying, how much are  they paying, what quality/quantity the buyer prefers,  etc.)
•  Contact stakeholders in the market to find  buyers
•  Develop a short- and long-term business  plan with detailed and realistic budget figures
•  Invest the needed resources
•  Pay attention to management (resources, labor,  etc.)
•  Seek to produce and maintain a high-quality  product
•  Develop and adapt new skills and technologies
•  Strive to make your product different/ better  than others
•  Maintain proper packaging and storage for  the product

Advertise and promote sales through various  market channels (collective sale   or  pre-negotiated sales)

•  Keep updating market information (Are there  new buyers? Is there a different quality  getting  a  higher price?  etc.) Ideally,  a  cashew producer should see him or herself  as  an entrepreneur,
•  Has a vision for a business and will run their farm or processing operation as a business
•  Makes a detailed plan of how the business can work and follows the plan
•  Takes advantage of new business opportunities
•  Takes calculated risks because they are committed to the vision
•  Works hard, is hands-on working in the business,  and is convinced of the potential success  of the business
•  Stays motivated and open to innovation, learning  and adapting new practices
•  Able to understand and analyze risks and effectively  manage crises and difficulties
•  Recognizes mistakes and those of others and makes corrections

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