Knowing the market well, the value of our business and knowing how to choose the workers are some of the first challenges that entrepreneurs find when it comes to building their own company.
The return of summer is a date chosen by many to start new businesses, or simply to change jobs. Holidays are a perfect time to reflect on our work plans, rest helps us recharge the batteries for a process as intense as creating a zero business.
According to INE data, in September 2016 7,000 new companies were created . But although you always start with good intentions and energy, poor planning can thwart the best plans. INE data reveal that, although 100,000 companies were created last year, 11,300 were also dissolved, especially in December and January . It is now possible to seek advice in a multitude of events , congresses and even books where experts or successful entrepreneurs give the guidelines to create a business without dying in the attempt.
Fernando Ruiz-Beato, partner of RB Ruiz Beato Abogados , recalls that ” undertaking is not easy because many people come back from the summer with great ideas, put some numbers in the spreadsheet and go on the adventure without having taken into account many others factors that will be decisive for the survival of the new company . ” Therefore, in order to help the new entrepreneurs not to fall into the most common mistakes, this advice , specialized in providing solutions and services in labor, tax and legal matters, has made a list of key points to take into account to be successful in This process.
Have the business or product tested
Before undertaking a business plan or seeking financing, it is essential to be clear about the innovative product or business that is intended to be achieved. How will the business be differentiated from others in the market?
Know the market and the competition
To know what makes the product or business that is wanted to be valuable or different, it is necessary to carry out an in-depth study of the market. You have to invest time to meet competition, prices, etc . You can give excellent service but do not get anyone to buy it if you are not well located and you do not know the sector or potential customers.
Caring for your brand online and offline
The next step would be to register the brand and the domains, nationally and internationally , nowadays it is increasingly necessary to go abroad, so it is convenient to at least study or analyze the convenience or not of its registration and in which countries. This is where the marketing part comes in, it is important to plan the activity in social networks and carefully choose the promotion and sales channels.
Sign an agreement of partners
It is a fundamental step if you are going to start in company. The rules of operation should be established, separating the role of shareholder or partner and, in turn, that of worker. To avoid future conflicts, it is critical to sign a pact of partners that regulate aspects such as pay, majorities strengthened, separation of partners, commitment to distribute dividends, permanence in the company, unfair competition ….
Choose your employees well
A good entrepreneur must know how to support himself, work and demand while understanding his employees . Choosing the right workers is always a complicated task, although they will not have corporate weight are the people with whom they will share the project, the illusion, good times, bad times, joys and sorrows. They are one of the most essential parts of a company.
If you do not have sufficient funding for the viability of the business for at least a while, it is not advisable to undertake. “It is not advisable to start the house on the roof “, explain from RB Ruiz Beato Abogados , the company will grow little by little, so we must have assured the beginning of the shooting.
Take advantage of outsourcing services
Covering everything is impossible. At first it can be helpful to outsource all possible expenses and avoid most fixed costs. But it is also important when it comes to outsourcing, choosing a trusted person, an advisor or consultant who brings value. Someone who knows what issues are worth investing to get the first benefits.
Although it is always comfortable to have friends close, mixing that part of our life with business can end badly. It is not advisable to start a business by the advice of a friend, there must be other elements that argue and justify the investment in the company. Study the project and analyze the information available to not go blind.
Knowing how to delegate saves many businesses, letting others do what is best for them. It is difficult not to be on top at all steps but to be a good leader, it is important to learn to establish roles.
Do not fear the solitude of the entrepreneur
One of the biggest advantages and at the same time disadvantage is being the only boss, not having anyone above. This involves solving problems and making difficult decisions . A solitude in the sense of must assume obligations, commitments, sacrifices and responsibilities. According to RB Ruiz Beato Abogados , ” do not fear that solitude but think that when you look back you will see with satisfaction everything you have built .”
- 1 Have the business or product tested
- 2 Know the market and the competition
- 3 Caring for your brand online and offline
- 4 Sign an agreement of partners
- 5 Choose your employees well
- 6 Secure financing
- 7 Take advantage of outsourcing services
- 8 Separate friendships
- 9 Set roles
- 10 Do not fear the solitude of the entrepreneur