Entrepreneurship - Tips for Your Project
I cannot tell you that entrepreneurship is the easiest thing in the world and that it is better to work for ourselves, because we are going to work less… it's just the opposite! While in an office (or in the so-called “normal” work) we have to work a certain number of hours and, even if we have to work overtime from time to time, it is not every day and weekends are pure rest. When we have our business there is not really a day of relaxation, but… when we believe in a project a lot and we REALLY want it to work, it will be a great pleasure to work hard on it and the motivation is different for sure!
As I use to say “luck is a lot of work”. Until we get to that luck, until we consider ourselves (or be recognized as) successful people there is a lot of work behind.
I can tell you that most small businesses close within two years, for one simple reason: lack of planning.
If you want to start something, plan, settle on ideas and, even if you start a little later than you had planned, the most important thing is to be comfortable with planning your business, at all levels.
Some simple tips for those who want to start a business:
1. Put your ideas on paper
Ideas are no more than that if they are not materialized and the first step is to pass them on paper, to start taking shape.
Do not try to execute your ideas immediately (believe me, I am also an impulsive person and sometimes we need to stop and breathe to realize that we need some more time), the impulse will miss important details and can lead to initial failure. Point out all your ideas and try to have a logical reasoning. These questions help:
- For whom?
- How much?
Putting it on paper will help organize ideas, believe me!
2. Research the market
Research about the business area you want to focus on, the market you want to cover, which other companies have similar products or services (competition), etc.
Unless it is a completely disruptive and innovative idea, the likelihood of other companies in this business area is very high and it is essential to know what others are doing and how to differentiate yourself.
3. Think of a name for your business
It is not easy and can take a long time. In a hurry, we don't do anything well, remember that.
When you have the name, register it and look for a domain on the internet and check on social networks if that name is available.
Only after that should you proceed to develop the image.
4. Make the business plan
For a business to succeed in the market, it has to be sustainable at several levels. Financial health is fundamental and cannot take a “step bigger than the leg”, because it increases the risk, in case something goes wrong.
It is true that in the beginning there is an investment that must be taken into account (graphic image, website, etc. - if it is a product, even more) the available capital and not flying too high. All costs have to be accounted for: fixed, variable, etc.
If you plan ahead, you can put aside savings and when you start, you will already have some money.
5. Get inspired
I think it is essential to be surrounded by other entrepreneurs, they are an incredible source of inspiration. Whether on social media, in books, magazines, articles, friends, etc. Our circle of closest friends does not always have this desire to undertake and we need to seek inspiration elsewhere. The exchange of experiences, positive energy are fundamental in the process!
6. Don't care about others
There will always be someone who will say "this is not going to work!" do not mind! I am one of those who only shares (at least with most people) when everything is about to happen and I work in my corner until I have something more concrete to present, exactly so as not to hear these words of discouragement. Focus on your goal and believe in what you are doing.
Would you like to start your own business?
This article is accurate and true to the best of the author’s knowledge. Content is for informational or entertainment purposes only and does not substitute for personal counsel or professional advice in business, financial, legal, or technical matters.
© 2020 Manuela