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So you will know if it is your time to start

March 28, 2020

If you are tired of working for someone else and think that your human talent is not being valued enough, it may be time for you to decide to undertake.

The opinions expressed by collaborators are personal.

Many wonder when the right time to undertake will be and hold back thinking that the socio-economic conditions of their country are not adequate. For all of them it is important to mention that it has been repeatedly proven that times of instability and crisis are favorable for the success of different lines of business, such as: alcohol, cosmetics, movie theaters, tax services, among many others.

So you will know if it is your time to startSo you will know if it is your time to start

Laura Olivia López Torres, founder of FF3.0, asserts that “as in all things: he who seeks finds. Here the important thing is to have the attitude, to investigate and the windows of opportunity open up by themselves to be used, that's when favorable conditions are created to undertake ”.

According to data from business consulting and market research, Innovative Marketing Consultants , only 1 in 10 entrepreneurs has regretted doing so. The main cause of this detraction has been the lack of planning that has led them to face difficult situations.

Here are some tips from prominent entrepreneurs in our country that will encourage you to join their group:

1. Partner with the right people

You must be aware that a good friendship does not guarantee a successful business relationship and that even the latter can put the former at risk. It is suggested to make clear the role that each participant plays in society from the beginning and that the contributions of the partners are proportional to the profits they receive.

“Associating with a person who did not have the same vision and interests as me for the business has been my worst experience when undertaking,” said Ana Patricia Burgos Peña, General Director of 30 Seconds Comprehensive Image Center.

2. Specialize

When you start it is easier to position yourself when you attack a specific market segment. It is a failed strategy to want to cover many markets from the beginning, which leads you to have a confused image of your company. The clearer the communication, the faster customers will arrive.

“It was a mistake to undertake having launched with an idea and realizing that there were many more needs in the market, I wanted to cover all of them in order to have“ something ”and I reduced my service. I solved it by rethinking what my original idea was, where I wanted to go with that and how I would progress to scale my business, ”said Ana Lucía García Flores, business coach and founder of DCD Consultoría.

3. Maintain a positive mental attitude

People around us will always tell us what is best for us and sometimes we forget that the main voice we should listen to is ours. This does not mean that following what the heart dictates is sufficient since a cold mind will help us to take the right steps.

According to Aline Youssef Moussi, CEO of Grupo Defining Projects, “the collective mind that tells you what is possible and what is not the main limitation to make your business project a reality.”

4. Create a comprehensive project

The more planning, the greater the probability of success. Do not forget to do an internal analysis knowing your strengths and weaknesses, and do not overlook the completion of a market study that allows you to know what is happening with your potential customers and competition.

In the words of Luis Zamora, an independent entrepreneur, “one of the worst mistakes in undertaking was to start a master project without funds and without having evaluated alternatives, I solved it some time later by presenting a comprehensive project to investors and obtaining their approval.”

5. Do not invest in what is not necessary today

As is often repeated in Arab culture, when you buy what you don't need you end up selling what you do need. It is indisputable that investment is required to make a profit, but we must be clear about what the business priorities are.

“Investing in things that are not necessary for the business is a dramatic mistake, patience is a virtue that the entrepreneur must have to wait for there to be a greater flow”, recommends Ana Lilia Morales, director of Clip Ideas Diseño y Asesoría SC

If you want your business dream to transcend, do not cry for what goes wrong, rather smile for that new inspiration that is born every day in you.

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