5 Things You Should Know Before Starting A Business

14 May of 2014

Looking to become independent and start your own business? Maybe it makes you really happy and you’re dreaming of the freedom of being your own boss, flexible working hours and to have more time for you and your family. Or with economic freedom that you think will mean. The engine of the economy is small businesses. Most have had to make great efforts to carry out their projects, but many of these sacrifices also attached to them feelings of accomplishment and success. To avoid these early setbacks in business self-employment or learning to take more assurance, we review those 5 things you should know before embarking on the adventure of self-employment:

1. The failure usually occurs more often than we think. Statistics show that many companies have losses or have to close to within five years of starting your business. Although this is bad news for entrepreneurs, we must be aware of the risk of starting up an entrepreneurial activity but without involving a fear not. The market is unpredictable and, what at first may seem like a good business idea, it will not be accepted in the same way by the public.

2. If external funding we must work for it. Grants, state aid, venture capital firms or business angels, are all good alternatives for funding, but are not always in sight. And must work hard to present our projects and these are accepted by investors.

3. Having an idea is key to kick-start a business, but an unattainable goal can do it crashing early. The goals we have put us at the beginning of our activity must be measurable, accessible, balanced in terms of our resources. All small business and self-employment starting aim would like to go public someday, but this is a great effort and we divert more immediate and necessary objectives.

4. Eventually, we may have only one jump at a good multidisciplinary team. We fulfil many functions in the beginning of our business, but if you want it to work and grow we must delegate responsibilities and share views.

5. Lack of confidence and self-assurance. Be punched every day is not a good way to run a business. The key to successfully face the possibility that our business works is to know our skills for attaining our idea can occupy a space in the market. Our mission is difficult, but nobody said it was impossible.

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