50 tips to start and start your own company
Starting your own company can be one of the most motivating situations you can go through in your life, but it can also be a tough stage, which requires a lot of effort and hard work.
In most cases, success or failure is determined by knowing how and when to carry out the project , and know the steps that must be followed to do things right.
Tips for starting a business
To help you in the process, below you will find 50 tips you need to know to start your new business The best way possible. Let us begin!
1. Make a realistic business plan
It is important to have aspirations and objectives to achieve, but your business plan has to be realistic . So analyze the situation well and be honest and sensible.
2. Get to work
It's great to have great ideas and have a mental picture of where you want to go. But for your goals to materialize you have to take action . If you are not in the market, you will not have customers. So do not give it more laps ... and set up the company! Prohibited to procrastinate.
3. Think of the client
It is important to analyze the client well: know what, when or how much you buy . You should know that you do not sell what you want, but what people buy. A company is not something closed in on itself, but it is important that you are attentive to everything that happens around it, in society and in your country.
4. Focus on the quality
And when you think about the customer, quality comes first . If you want customers to come back, do not ignore this advice and focus on quality.
5. Dedicate yourself to what you are passionate about
Riding a business just to make money may not be a good option, so think about what motivates you . Having a company can be very demanding, and if what you do not like, you may throw in the towel too soon.
6. Investigate the competition
When you want to start a business you need to analyze competition . In this way it is possible to know what competence you have and what you do well. This information will be very valuable to you.
7. Taxes? Contracts? Paperwork? ... you do not desmotives
Fire regulations, obtaining licenses, taxes, paperwork ... are procedures and bureaucracy that can scare and discourage anyone. This is a stumbling block that must be overcome, so do not let these obstacles overcome you .
8. Give the project time
Surely your project needs time to work, so do not 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 world 2.0
The business model has changed in recent decades and, currently, we live in the digital age . Exploit the opportunities that the 2.0 world gives us (for example, starting a e-commerce or using digital marketing tools) can be crucial for our company to succeed or not.
10. Find out about the help for entrepreneurs
If you do not have a large capital to start your project, you need to be informed of the grants or subsidies that both local and state institutions provide.
11. Contact several suppliers
Do not settle for a single provider . Contact several of them and accept the best option. You may even be able to negotiate with them.
12. If you can not hire employees, look for other ways to get talent
If the first months you can not afford to have employees, look for other non-monetary formulas to get talent . For example, getting editors in exchange for their own advertising.
13. Your business idea may evolve
You must be flexible about your business idea , because you may, once in the market, discover that there are more profitable options that you had not foreseen. Do not be afraid to modify your initial idea if it gives you benefits. Pay attention to the maxim: "adapt or die".
14. Think of the people you know
The people you know can help you , either because of your previous professional experience or your different point of view. Maybe you can offer something in return and benefit your knowledge about topics that you do not master. Also, think about your network of LinkedIn contacts, you may have acquaintances with whom to create synergies.
15. Be optimistic, but prudently
Entrepreneurs are usually very optimistic , although the results may take longer to arrive than expected. Things are always more expensive and the income will come later than you expect. So keep everything tied and, if necessary, keep that margin of error in mind.
16. Do not say yes always
Think carefully about the steps you are going to take . They may offer you a proposal that is succulent in the short term but can tie you forever.Think well of the consequences and remind yourself that it is your project.
17. In the initial sales, the important thing is not the money
You may be willing to make money, but it's in your best interest, at least at the beginning, to think less about the economic benefit and more in what you can learn or in making the client feel satisfied.
18. Train yourself and get ready
Your idea may be very good but you have never received specific training to start a business and manage it. There are many courses for entrepreneurs that can be very useful .
19. Your employees must also be part of your success
If you have started your new project with a team of workers, you should know that a large part of your success is yours . Make them participants of your achievements.
20. Think about branding
Although marketing and branding are intimately related, they are not exactly the same . While marketing is used to analyze, plan and actively promote a product or service, branding is the expression or the value of a brand in the market, that is, what will make the customer loyal and what will create trust. Therefore, spend time working on branding.Related article: "Personal branding for psychologists on the internet and social networks"
21. ... And make your product an experience for the client
Branding is positive because it allows the client to identify with the brand and reach his emotional side. But also, It is also possible to create sensory experiences in your offer (your product or your local), 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 heart of the client and flood their senses.Recommended article: "Emotional Marketing: reaching the heart of the client"
22. Search for collaborators
Not only should you spend your time looking for suppliers, You can also look for possible collaborators, for example, universities, technology centers or companies .
23. Look for funding sources
In addition to the possible subsidies, You can go to 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 can tell you , they will have your opinion about your company. That does not mean that you follow what they say to the letter, but it will serve you as feedback.
25. Beware of payment times
You must be careful with payment times and have your customers' payments controlled Otherwise, you may run the risk of running out of liquidity.
26. Dedicate time to the name
If branding is important, it is also important to have a good name . So dedicate time to find a name that is brief, pleasant and appropriate with 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 brand
Once you have the name, do not forget to register it to avoid problems when the company is already running . Go to the office of registration of commercial names and patents to leave this point completed.
28. Make a budget
Carry out a budget . This way you will have 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 must determine costs realistically and if you are going to make additional investments, you know what the standard prices are in the market. This will allow you to have more control of your business and obtain relevant information for investors.
30. Cover your back in the economic
As for the economic, you should cover your back. This means that you calculate a treasury for more than three months. In this way you will avoid having to face financial problems.
31. Decide the legal structure
You must decide the legal structure. For example, are you going to be the sole owner or will you have a partner? or are you going to be a cooperative? These types of issues must have them well defined.
32. Use the free resources
It does not all have to be to spend money when you set up your company . You can also make use of economic resources. For example, social networks or tools that have trial versions.
33. Make sure
Do not forget to have adequate insurance for your company. Depending on the business, there will be differences in the insurance offer.
34. Localization can determine the success of your business
If you have a face-to-face business, choose the location well because it can be key to the success of the company . For example, that is accessible to potential customers, or that is in a neighborhood where there is demand for your product or service.
35. Do not listen to pessimistic people
Throughout your life you will always come across negative people who will try to throw your dreams to the ground . Remember that the project is yours, so do not listen to criticism that is not constructive.
36. Go ahead and do not come down
Maybe, from the outset, your idea is rejected by investors or it costs you to start on the topic of sales. Do not come down 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, after all it is the customer who will buy our product or service. So try to give a good service .
38. Communicate with partners and avoid unnecessary conflicts
If you have partners, it is possible that at some point you have conflicts and disagreements with them . Solve problems that may arise as soon as possible, otherwise, this will have a negative effect on the performance of your company.
39. Create a blog
Think seriously about having a blog or web so you can interact with your customers and create a digital identity for yourself or your brand.
40. Loyalty to the customer
Customers are very demanding and, therefore, they need to feel valued . With this in mind, it is possible to use different strategies so that they come back in the future. For example, giving them a discount voucher for their own purchase.
41. Surround yourself with people with good advice
If at a previous point there has been talk of ignoring the 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 .
42. Use networking
Networking is a common practice in the business world and entrepreneur , because it allows you to make new contacts that can provide real added value to your company. Whenever you can, attend these types of events.
43. Hire (or join) people who complement you
Even though the project is yours, do not pretend to do it all by yourself . If you are hiring employees, choose those people who complement you, because this will allow the talents of each team member 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 start alone.
44. Your social life is going to change
Entrepreneurship is going to take a lot of time out of your life . So, at least at the beginning, you must be aware that your social life is going to change.
45, Not all projects are viable
Only 5% of the projects are viable , so do not 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 triumphed, he had fallen again and again before everything went well.
46. Take advantage of the feedback from social networks
If you follow the advice I have given you and decide to use the world 2.0 or create a blog, the opinions of the clients will be of great use to you . For example, you can know if your new product likes it or not.
47. Do not 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, it positively values the increase in visits every month. Make sure you have a solid base and later, maybe, you can increase your investment to obtain more notorious results .
48. Measure the results
Therefore, measure the results and analyze them . Success has to do with the results, not with the amount of work you do. Measure your results and promote them, detect where you are right and enhance that aspect.
49. Learn to delegate
Delegating is as difficult for entrepreneurs as telling the truth is for politicians . So, although you surely 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 time of withdrawal
Sometimes, failure is inevitable . Put aside your pride and detect when it is time to retire. A withdrawal in time is also a victory. There is always a new beginning in the business world.