50 tips to start and start your own business

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 time that requires 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 know the steps to follow 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 goals 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 start the company! Procrastination prohibited.

3. Think of the customer

It is important to analyze the customer well: know what, when or how much they buy

. 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 be attentive to everything that happens around it, in society and in your country.

4. Focus on quality

And when you think of the customer, quality comes first. If you want customers to come back, don't ignore this advice and focus on quality.

5. Dedicate yourself to what you are passionate about

Starting 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 company it is necessary that you analyze the competition. In this way it is possible to know what competition you have and what you do well. This information will be very valuable to you.

7. Taxes? Contracts? paperwork... do not be demotivated

Fire regulations, licensing, taxes, paperwork... they are paperwork and bureaucracy that can scare and demotivate anyone. This is a stumbling block that has to be passed, so don't let these obstacles overtake you.

8. Give the project time

Your project probably needs time to work, so don't expect immediate success. You have to go step by 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 we currently live in the digital age. Exploit the opportunities that world 2.0 offers us (for example, starting a e-commerce or employing digital marketing tools) can be crucial for our company to be successful or not.

10. Find out about aid for entrepreneurs

If you do not have a large capital to start your project, it is necessary that you find out about the aid or subsidies that both local or state institutions provide.

11. Contact various providers

Don't settle for just one provider. 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, find other ways to get talent

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

13. Your business idea can evolve

You must be flexible about your business idea, because it may be that, once in the market, you will discover that there are more profitable options that you had not foreseen. Don't be afraid to modify your initial idea if it pays you back. Heed the maxim: "adapt or die."

14. Think about the people you know

The people you know can help you, either because of your previous professional experience or because of your different point of view. You can still offer them something in return and benefit from their knowledge of topics that you do not master. Also, think about your LinkedIn network, you may have acquaintances with whom to create synergies.

15. Be optimistic, but wisely

Entrepreneurs are usually very optimistic, although the results may take longer to arrive than expected. Things are always more expensive and the revenue will come later than you expect. So keep everything tied up and, if necessary, keep that margin of error in mind.

16. Don't 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 down forever. Think carefully about 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 eager to make money, but it is still in your best interest, at least at first, to think less about the financial benefit and more on what you can learn or make the customer feel satisfied.

18. Train and train

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 participants in your success

If you have started your new project with a team of workers, you should know that much of your success is his. Make them share in your achievements.

20. Think branding

Although marketing and branding are closely 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 is going to build customer loyalty and what is going to create confidence. Therefore, spend time working on branding.

• Related article: "Personal branding for psychologists on the internet and social networks"

21.... And make your product a customer experience

Branding is positive because it allows the client to identify with the brand and reach their emotional side. But also, it is also possible to create sensory experiences in your offer (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. Search collaborators

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

23. Look for sources of financing

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

24. Hear what investors have to say

Hear what potential investors can tell you, because they will have their opinion about your company. That does not mean that you follow exactly what they tell you, but it will serve as feedback.

25. Be careful with payment times

You must be careful with the payment times and have controlled the payments of your clientsOtherwise, you may run the risk of running out of liquidity.

26. Spend time on the name

If branding is important, so is having a good name. So take the time to find a name that is short, pleasant and appropriate with your company's image. 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 running. Go to the trade name and patent registry office to complete this point.

28. Make a budget

Make 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, know what the standard prices are in the market. This will allow you to have greater control of your business and you will obtain relevant information for investors.

30. Cover your back economically

As for the economic, you must 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 on the legal structure

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

32. Use the free resources

Not everything has to be spending money when you start your business. You can also make use of economic resources. For example, social networks or tools that have trial versions.

33. Make sure well

Do not forget to have adequate insurance for your company. Depending on the business, there will be differences in the insurance offer.

34. Location 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 it is accessible to potential customers, or that it is in a neighborhood where there is 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 do not listen to criticism that is not constructive.

36. Go ahead and don't go down

It may be that, from the outset, your idea will be rejected by investors or it will be difficult for you to start on the subject of sales. Do not fall 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, at the end of the day it is the customer who is going to 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 will have conflicts and disagreements with them. Fix any issues that may arise as soon as possible, otherwise this will have a negative effect on your business performance.

39. Create a blog

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

40. Build customer loyalty

Customers are very demanding and, therefore, they need to feel valued. Taking this into account, it is possible to use different strategies so that they return in the future. For example, giving them a discount voucher for their own purchase.

41. Surround yourself with people with good advice

If in a previous point you have talked about ignoring pessimistic people, you should know that you can heed 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 and entrepreneurial world, because it allows you to make new contacts that can bring true 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, don't pretend to do it all alone. If you are going to hire employees, choose those people who complement you, as this will allow the talents of each individual on 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 start only.

44. Your social life is going to change

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

45, Not all projects are viable

Only 5% of the projects are viable, so don't bet everything on one number. For example, the founder of “Uber”, one of the most successful companies in recent years, has recognized openly that, before his company succeeded, he had fallen over and over again before everything go well.

46. Take advantage of feedback from social media

If you follow the advice I have given you and decide to use the 2.0 world or create a blog, the opinions of the clients will be very useful. For example, you can know if your new product likes it or not.

47. Don't be in a rush to grow

More than getting to 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 in visits every month. Take care of having a solid foundation 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 how much 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 though you probably want to do it all, learn to delegate. You won't 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.