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 cashew
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.