2023-04-18 20:45:29
Tips for getting your business off the ground and starting to undertake
According to the Global Entrepreneurship Monitor (GEM) 2021 report, which is the largest entrepreneurship survey in the world and is carried out in Brazil by Sebrae in partnership with the Brazilian Institute of Quality and Productivity (IBQP), the Established Entrepreneurs Rate, the who manage to get their business off the ground and start to undertake, which are the ones with at least 3.5 years of operation, had an increase of 1.2 percentage points and went from 8.7% of the adult population, in 2020, to 9.9% in 2021.
Entrepreneurship is widely embraced by Brazilians, either by chance or necessity.
In addition, another positive point presented by the GEM report is that entrepreneurship by necessity has decreased, and by opportunity has increased.
This proves that the economic scenario is favorable for entrepreneurs who persevere and who draw up and execute an intelligent strategic plan.
Excited to get started? Follow the tips that we separate below and execute your dreamed idea!
Formalize-se
Regardless of size, professionalize your business by opening a company (CNPJ), issuing invoices, standardizing processes, among others.
Prepare-if
Be sure to study to keep up with market developments. Take technical and business management courses. Remembering that there are numerous free options, such as Sebrae’s “Define your business”.
review your ideas
Pivoting is a technical term of entrepreneurship and means readjusting your business plan if the current one is not being satisfactory or if you have discovered a gap in the market that can take your company to another level more quickly.
Know the market, technologies and your competition
Study the market and understand who your target audience is and what their pain points are. Once this is done, create solutions that meet these requirements with the highest possible quality.
Use technology to your advantage to optimize processes and, consequently, make your production cheaper and better.
Structure a strategic plan and put it into practice as soon as possible. This way, you can test which products and services are performing well and adjust your company’s next steps.
Analyze your direct competitors and other companies that are standing out to be aware of the paths that the market is taking.
Choose your partnerships and don’t give up at the first barrier
Be surrounded by competent people, which includes suppliers, employees, outsourced workers, etc., as they are the ones who will help you in times of difficulty.
The challenges that make up an entrepreneur’s routine are countless and often unexpected.
However, the feeling of achievement when overcoming them is indescribable. So persevere to savor the victories alongside your team. In addition, by overcoming setbacks, experience is gained to overcome the next challenges that will appear along the way.
organize your finances to start undertaking
Generally, the initial period of opening the company goes through moments of losses before actually making a profit. So, prepare the company’s cash and set aside the necessary amount for your working capital.
The financial organization of your company is a determining factor for its success. That way, make smart decisions with your business money.
However, if you need help paying off a debt or taking advantage of a business opportunity, hire unsecured credit can be a great option, since this type of credit understands and meets the specific needs of an entrepreneur.
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