50 tips for entrepreneurship and starting your own company

Want to start your own business? Pay attention to this article.

Starting your own business can be one of the most motivating situations you can go through in your life, but it can also be a hard stage, requiring a lot of effort and work.

In most cases, success or failure is determined by knowing how and when to carry out the project, and knowing the steps to take.and knowing the steps to follow to do things right.

Tips for starting a business

To help you in the process, you will find below 50 tips you need to know to start your new business in the best way possible. Let's get started!

1. Make a realistic business plan

It's important to have aspirations and goals to achieve, but your business plan has to be realistic. your business plan has to be realistic.. So analyze the situation well and be honest and sensible.

2. Get down to work

It's all very well to have great ideas and to have a mental picture of where you want to go. But for your goals to materialize, you have to take action.. If you're not in the market, you won't have customers. So don't give it any more thought... and start your business! No procrastination.

3. Think about the customer

It is important to analyze the customer well: know what, when or how much he buys..... You must know that you do not sell what you want, but what people buy. A company is not something closed in itself, but it is important to be attentive to everything that happens around it, in society and in your country.

4. Focus on quality

And when you think about the customer, quality comes first.. If you want customers to come back, ignore this advice and focus on quality.

5. Dedicate yourself to what you are passionate about

Setting up a business just to make money may not be a good option, so think about what motivates you.. Running a business can be very demanding, and if you don't like what you do, you may throw in the towel early.

6. Research the competition

When you want to start a business, it is necessary to analyze the competition.. In this way it is possible to know what competition you have and what they do well. This information will be very valuable to you.

7. Taxes? contracts? paperwork?... don't get discouraged.

Fire regulations, obtaining a license, taxes, paperwork... are red tape and bureaucracy that can scare and demotivate anyone. This is a hurdle to overcome, so don't let these obstacles get the better of you..

8. Give the project time

Your project will probably need time to work, so don't expect immediate success.. You have to go step by step and be aware of it. Nobody achieves success in 24 hours.

9. Immerse yourself in the 2.0 world.

The business model has changed over the past decades and we are now living in the digital age.. Exploiting the opportunities that the 2.0 world offers us (for example, by starting an e-commerce or using digital marketing tools) can be crucial for our company to be successful or not.

10. Find out about grants for entrepreneurs

If you do not have a large amount of capital to start your project, it is necessary to find out about the aid or subsidies provided by local or state institutions.

 

11. Contact several suppliers

Do not settle for a single supplier. Contact several of them and accept the best option. You may even be able to negotiate with them.

12. If you can't hire employees, look for other ways to get talent.

If you can't afford employees for the first few months, look for other non-monetary ways to get talent.. For example, getting copywriters in exchange for their own advertising.

13. Your business idea can evolve

You need to be flexible about your business ideaOnce in the market, you may discover that there are more profitable options that you had not foreseen. Do not be afraid to modify your initial idea if it is profitable. Heed the maxim: "adapt or die".

14. Think about the people you know

The people you know can help youWhether it's because of their previous professional experience or their different point of view. You may be able to offer them something in return and benefit from their knowledge on topics you don't master. Also, think about your network of contacts on LinkedIn, you may have acquaintances with whom you can create synergies.

15. Be optimistic, but cautious

Entrepreneurs tend to be very optimistic, although results may take time to come.They are very optimistic, although results may take longer than expected. Things are always more expensive and income will come later than you expect. So have everything well tied up and, if necessary, keep that margin of error in mind.

16. Don't always say yes

Think carefully about the steps you are going to take. You may be offered a proposal that is succulent in the short term but may tie you down forever. Think carefully about the consequences and remind yourself that it is your project.

17. In initial sales, it's not the money that counts

You may be eager to make money, but you may want, at least in the beginning, to think less about profit and more about what you can learn or learn from it. and more about what you can learn or about making the customer feel satisfied.

18. Train and educate yourself

Maybe your idea is very good but you have never received specific training to set up a business and manage it. There are many courses for entrepreneurs that can be very useful for you..

19. Your employees must also share in your success

If you have started your new project together with a team of employees, you should know that a large part of your success is theirs.. Make them participants in your achievements.

20. Think about branding

Although marketing and branding are closely related, they are not exactly the same thing .. While marketing is used to analyze, plan and actively promote a product or service, branding is the expression or value of a brand in the marketplace, i.e., what will build customer loyalty and trust. Therefore, spend time working on branding.

21. ...And make your product an experience for the customer.

Branding is positive because it allows the customer to identify with the brand and reach their emotional side. But also, it is also possible to create sensorial experiences in your offer (your product or your (your product or your store), in such a way that you conquer the senses of your consumers. For example, if you sell clothes, use music or colors that reach the customer's Heart and flood their senses.

• Recommended article: "Emotional Marketing: reaching the customer's heart".

22. Look for collaborators

You should not only spend your time looking for suppliers, you can also look for possible collaborators, for example, universities, technology centers or companies..

23. Look for sources of financing

In addition to possible subsidies, you can approach investors to see if they are interested in your product or service..

24. Listen to what investors have to say

Listen to what potential investors have to sayThey will have an opinion about your company. This does not mean that you follow what they tell you to the letter, but it will serve as a guide for you. feedback.

25. Be careful with payment times

You must be careful with payment times and keep track of your customers' payments, otherwise you may run the risk of running out of liquidity.Otherwise, you may run the risk of running out of cash.

26. Spend time on the name

If branding is important, it is also important to have a good name.. So take the time to find a name that is brief, pleasant and appropriate to the image of your company. In addition, you should also pay attention to whether the name is registered and the domain in social networks is not in use.

27. Register the trademark

Once you have the name, do not forget to register it to avoid problems when the company is already operating.. Go to the office of registration of commercial names and patents to complete this point.

28. Make a budget

Make a budget. This will give you a clear idea of how much money you will need, for example, to create a marketing plan or buy machines.

29. Analyze well how much you invest

You should determine the costs realistically and if you are going to make additional investments, know what the standard market prices are. This will allow you to have a better control of your business and you will obtain relevant information for investors.

30. Cover your back financially

In terms of economics, you should cover your back. This means that you should calculate a cash flow for more than three months. This way you will avoid having to face financial problems.

 

31. Decide on the legal structure

You must decide on the legal structure. For example, are you going to be the sole proprietor or are you going to have a partner, or are you going to be a cooperative? These types of questions should be well defined.

32. Use free resources

It doesn't all have to be about spending money when you set up your business.. You can also make use of economic resources. For example, social networks or tools that have trial versions.

33. Be well insured

Don't forget to have the right insurance for your company. Depending on the business, there will be differences in the insurance offer.

34. The location can determine the success of your company

If you have an on-site business, choose well the location because it can be key to the success of your company.. For example, that it is accessible to potential clients, or that it is in a neighborhood where there is a demand for your product or service.

35. Don't listen to pessimistic people

Throughout your life, you will always come across negative people who will try to destroy your dreams.. Remember that the project is yours, so ignore criticism that is not constructive.

36. Keep going and don't get down.

Your idea may be rejected by investors at the outset or you may struggle to get off the ground in terms of sales. Don't get discouraged and make the necessary adjustments if there is something you can improve..

37. Give good customer service

They say that the customer is always right, and, although this phrase is not always true, at the end of the day it is the customer who is going to buy our product or service. So try to give him a good service.

38. Communicate with partners and avoid unnecessary conflicts.

If you have partners, it is possible that at some point you will have conflicts and disagreements with them.. Solve any problems that may arise as soon as possible, otherwise this will have a negative effect on your company's performance.

39. Create a blog

Think seriously about having a blog or website so that you can interact with your customers and create a digital identity for you or your brand.

40. Build customer loyalty

Customers are very demanding and, therefore, they need to feel valued.. With this in mind, it is possible to employ different strategies to keep them coming back in the future. For example, by giving them a discount voucher for their own purchase.

41. Surround yourself with people with good advice

If in a previous point we talked about ignoring pessimistic people, you should know that you can pay attention to the good advice of some people. However, remember that you have the last word, remember that you have the last word.

42. Use networking

Networking is a common practice in the business and entrepreneurial world.because it allows you to make new contacts that can bring real added value to your company. Whenever you can, attend this type of events.

43. Hire (or join) people who complement you.

Even though the project is yours, do not pretend to do everything alone.. If you are going to hire employees, choose people who complement you, because this will allow the talents of each individual in the team to complement each other to create a final product that you could not have achieved individually, and, in addition, it can give you new business possibilities that would not be possible if you wanted to undertake alone.

44. Your social life will change

Entrepreneurship will take a lot of time out of your life.. So, at least at the beginning, you should be aware that your social life will change.

45, Not all projects are viable

Only 5% of the projects are viableso don't bet everything on a single number. For example, the founder of "Uber", one of the most successful companies in recent years, has openly acknowledged that, before his company succeeded, it had fallen again and again before everything went well.

46. Take advantage of feedback from social networks

If you follow the advice I have given you and decide to use the 2.0 world or create a blog, the opinions of your customers will be very useful to you.. For example, you can find out whether your new product is liked or not.

47. Don't be in a hurry to grow

More than reaching your business goal quickly, you should value the small achievements you are making. If you have a digital newspaper and you want to be one of the most read newspapers in your country, value positively the increase of visits month by month. Make sure you have a solid base and later, perhaps, you can increase your investment to obtain more noticeable results..

48. Measure the results

Therefore, measure the results and analyze them.. Success is about results, not the amount of work you do. Measure your results and promote them, detect where you are getting it right and enhance that aspect.

49. Learn to delegate

Delegating is as difficult for entrepreneurs as telling the truth is for politicians.. So, even if you want to do everything, learn to delegate. You will not be able to move forward without delegating some tasks to make room for new and more valuable ones.

50. Accept the moment of withdrawal.

Sometimes failure is inevitable. Put aside your pride and detect when it is time to withdraw. A timely withdrawal is also a victory. There is always a new beginning in the business world.