Entrepreneurship is a trend that has been accompanying us for time immemorial, however, one in which few are successful because it is not an easy task. But how do you know if it's for you? Think and mentally answer the following questions, we promise to keep your answers secret.
Being a leader requires that you always take the first step, do you want that? Does the idea of facing challenges, risks, falling down and getting up in the end maybe (yes, maybe) succeed?
This guide is designed to learn how to start a company or business in a solid and sustainable way over time, even knowing the challenges that may arise. Take heart, it may be difficult, but not impossible.
Do you dare to learn to undertake?
There is no magic formula to be successful when starting a business. What does exist is a team prepared to support you in every step of creating your business, company, or mini entrepreneurial project.
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Let's start by thinking, why undertake?
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Guide to learn how to undertake step by step
Thinking about having your own business or company may seem like an attractive subject for many people, and it makes a lot of sense to us because it really is. However, not all of them are successful.
But that's just it. We can't back down just because someone we know started a business and maybe it didn't go well. On the contrary, they are case opportunities that allow us to learn, know and capitalize.
If you ask someone why they started, no matter if they have been successful or not, they will tell you some of the following reasons; If you identify with one or all of them, believe us, learning to undertake is something you should do.
List of reasons why people start their own business
- The first reason is perhaps one of the most important: You want financial freedom. That means that the sky is your limit and you will always have the opportunity to generate better income by generating value for your users through your product or service.
- Independence is everything, but acquiring it requires a lot of responsibility. Remember that your entrepreneurship will depend only on you, whether you decide to create a startup, a small business or have the mentality to go further. Your results are clearly proportional to your initial delivery, something that can later change over time with a team that accompanies you.
- You build confidence in yourself. There will never be a guarantee of success, however, the personal growth that you acquire when starting a business is too high since it gives you security and the ability to move in uncertain environments; as well as the leadership you develop, with or without a team.
- Challenges will be your daily life, it does not imply that you are stressed, starting a company is something that requires many skills, effort and strategy on your part, in other words, getting out of your comfort zone.
- You will be a happier person. This is the most important, reaching goals and seeing how you achieve your business vision, is one of the most incredible satisfactions you can feel and believe us, you will not know what we are talking about until you try it.
The time has come, a compilation of the best tips to start
We know that starting a business is not a decision you should make in a hurry. With that in mind, we bring you a compilation of what you must take into account to undertake step by step.
It doesn't matter if your goal is a fast food business, a micro-enterprise, a startup with investment or an enterprise. These recommendations will be useful for you to draw the right panorama in the gestation of your next venture.
We will go from what is in you, that is, the idea and strategy, to what is more tangible, budgets, etc. Funny, this sounds harder than it really is, check it out for yourself, let's get started.
1. Start something you are passionate about
Guide to learning to undertake step by step
The best advice someone could give you to undertake and start projects in your life is the following: "Choose a job that you like and you will not have to work a day in your life".
It may seem very simple, but this is the best advice you could receive from us. If you love what you do, you will have the spirit and courage to resist difficult situations that you may face when starting your business.
Think of it this way, project your business in the long term and answer these two questions, how would you like to see yourself in a few years? Hating your job or giving 1000% of yourself for your business?
We both know which option you made in your mind, and we know because you are still reading this guide, those people who would not choose the option of giving everything of themselves for their entrepreneurship, would have abandoned reading this guide after reading the first three paragraphs.
Identifying your skills and passions will allow you to focus on a business you enjoy running. Define and research the industries that are most similar to your tastes to keep you focused on your goals every day you work in your business.
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2. Investigate and appropriate all the information about your market
Be precise when knowing about the market where you want to undertake. Know in detail what type of ecosystem your business will develop in, questions you must answer are; who is your competition? What kind of products are offered in your market? And a long and fun etcetera.
This market research is vital so that you can know and competitively develop your product or service. When starting your business, you must answer a question that some clients will surely have in mind: what makes your product special? Why should they choose you?
Knowing your market will help you build a value offer that responds to the benefits of your business (whether you offer a product or service) compared to the competition, focus on perfectly knowing the opportunities in your market.
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3. Outperform your competition
Competition is something you cannot ignore.
Remember that your product or service may already be on the market, your success also depends on the state of other companies and how they are offering your client to satisfy that need.
Starting a business with an eye toward your competitors will give you more tools to do things better, in the end, that is what you should do; It is useless to offer the same thing under the same conditions.
If you want to stand out in your market, you must be the best option, be different and innovative.
4. Create your business plan
The best thing you can do is create a document (it doesn't have to be very complex to start with, it can be an Excel sheet) where you include the objectives of your company and a strategy to achieve them.
Having clear goals is key to planning the tasks that may be involved in achieving them. As well as raise the structure, budgets, how you are going to finance yourself and everything that involves advancing step by step.
This is a document that you should constantly update. To do this, we suggest you consider this step in the Canvas model, to clearly define your business idea. We highly recommend you read about it.
With this model, you will be able to capture your business plan in a tangible and real way, which acts as a compass. This document will not be static, part of the path of entrepreneurship is knowing that you must iterate over time and evolve to be truly successful.
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5. Create a budget, it's easy!
This is an important factor and it is usually the but of many when wanting to start a business, you should not see it as an item that prevents, but as one that will boost you, the trick is to investigate and document yourself about it.
There are guides for entrepreneurs that suggest that the first question should be: how much would you be willing to give for your company? Well, when creating your own company, in addition to all your passion, you must also set a budget of the expenses that you could have when you start and a projection of how and when you will be profitable.
6. Define your audience and ideal clients
Guide to learning to undertake step by step
Knowing about the lives of your customers sounds exaggerated, but it will not be when you ask yourself why they should buy from you. Defining who your customer is will make it easier for you to answer that question.
Investigate the behaviour and consumption patterns that your ideal clients have, and ask yourself what would be that specific profile of someone who may want your product or service.
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This will make it easier for you to generate new ideas to offer what you are selling, those advantages that you could have.
The best way to analyze it is by considering information such as gender, geographic location, lifestyle, and socioeconomic level, among others. This is also in terms of reaching them in a specific and successful way.
7. Always listen to your customers
As well as studying and getting to know your future clients, you should know that the one who knows their needs much more, (the one that you are supplying with your product or service), are themselves, yes, your users.
Do not ignore what they think and take advantage of listening to create a company with a product tailored to its customers. Even better.
Communicate with them, ask them questions and listen to them, they will be delighted that their opinion is taken into account, and their answers will be pure gold in your business strategy.
8. Focus on marketing and of course, sales
Marketing will help you conquer your market, draw up strategies to meet the needs of your customers and achieve the business objectives you set for yourself.
What would be your plan to lead your business to success? Marketing will allow you to chart a much clearer course towards the answer you gave to the question, give as much publicity as you can to your business, what you sell and even about the philosophy and culture of your company or business.
Marketing is fundamental since success does not depend only on the quality of the product or service. Ask yourself, what is the use of having the best product if it does not fully fulfil its function if nobody knows about it or simply has a very high price for your target audience? Exact!
Include this in your marketing strategy
The four p's of marketing have the basic pillars to influence and conquer your audience: Product, Price, Place and Promotion.
In digital marketing for your business, you can define social networks, which will be vital to obtaining new clients and/or consumers.
You can rely on them to promote your business, always keeping in mind that valuable content for your target audience is vital to attracting them, so don't forget.
9. Choose a mentor to undertake
There is nothing better than undertaking with those who already know how to do it. Having someone specialized to start a new business is of value since they will guide you throughout this path. If you do not find one, or you still do not consider it, you can seek advice on courses and/or training.
10. Take your business to market
Focus each action on getting prospects for your service or product, customers who trust the way you are meeting their needs and ask for feedback about it, remember step 6, listen to your customers and also step 7, focus on marketing and sales.
11. Generate strategic ties that support your vision
Having strategic ties is key to the growth of your business. In this case, do not just think about investment and how much it can bring you, although it is important, there are other factors that allow your business to grow.
For example, enlist your business vision to a person who knows about marketing who supports this management or gives you the right knowledge to do it, and become a good partner, among other networking ideas.
12. Get investors who trust your business
This is an important aspect to strengthen your business, however, in order to get to this point, we must consider whether our service or product is the ideal one and bear in mind that not all businesses need external investors.
We know that you will make a rigid application of these steps, but if you have come this far, you should know that if you have done everything thoroughly you will be one step closer to getting someone to believe in you.
You need to sell your idea and share it, keep in mind the following to create a good business speech:
- Learn how to generate interest in your service or product.
- Build a solid argument for your venture in which you explain how you created the idea, and the business model where you tell what you sell, to whom and how.
- Be clear about your market.
6 final recommendations, what you need to undertake
How to start a business is perhaps one of the questions that we all ask ourselves at some point in our lives, however, few take the first step.
Entrepreneurship is an important decision and requires the right knowledge and support to start profitably. However, it is not the only thing you need to start.
That is why we have compiled the final recommendations from experts in the field so that you have a greater chance of success, if you want to open your own business, always keep in mind the following:
Guide to learning to undertake step by step
- Choose your business well, it will take time to be successful, so dedicate it to something you love doing.
- Don't be afraid of making mistakes, falling down or failing. This is necessary to achieve success.
- Be persistent. It does not matter if your idea is the best or not, if you are not constant you will not be able to stand out.
- Focus on growing and improving your skills. If you are the one who has a skill or knows how to create a great product, stay constantly growing to improve not only you but what you offer.
- Trust yourself, even if no one else does. The best example of this is Elon Musk, you already know what they have achieved so far.
- Learn about finances and budget management. Businesses are big challenges and smart use and investment are crucial.