Being an entrepreneur is something exciting, every day you live solving challenges, every day you improve some part of your business, every day are different, every day you live in a passionate adventure about your dreams.
During these years that we have been undertaking I have had successes and failures of which I have learned a lot, although to be honest we have learned much more of the failures of our projects, we think it is normal, it hurts to see an idea die for the lack of knowledge Or lack of resources.
What we want to share today are some of the great lessons we have had to learn in the raw way, we hope you can experience others’ head and you can avoid going through some mistakes that we made.
1.-The reality is outside and not on paper.
It is necessary and almost mandatory for you to have a business plan for your project, you must have paper knowledge of all areas of your company including the main numbers and indicators of your company, these numbers will be your new rosary, keep them present all Time, but …
Here comes the error
In reality you can not make all the decisions of your business based on what the paper says, many times you have to act quickly and make decisions trusting your instinct as an entrepreneur, some will say that this skill will develop over time as if Try to hunt your prey, what we have seen is that the more you have the numbers and indicators of your company, the easier it is to take risks and hunches in your company.
2.-The demon of failure will always be present
The title was half playwright, but the reality is that no matter how advanced or new your business, failure will always be latent, it’s like having a fight with failure day by day.
The above do not tell you to discourage you, our intention is to know the reality of the path of the entrepreneur, now what you have to know is that if you are working in your dreams you take a lot of advantage to failure because you have the passion and inspiration of Your side and when it is so no matter how many times you stumble your fight will continue until you achieve your success.
The failure statistics of the new company are very strong and probably will scare many of those who are reading this right now…
Of every 10 new companies, only 1 or 2 exceed the first 5 years of life.
How was the data? If you still want to start after knowing this, I think you are ready to know that the most important rule to undertake is to never give up !!
3.-You only go fast but accompanied you will get far.
Most of the great entrepreneurs started their business with their friendly friends or a partner who complemented them very well, they all knew the importance of having a team and someone to lean on the hard times of the road.
It is not about looking for a partner necessarily, it is about surrounding you with the people who complement you, in this way your business can see the light for goals much bigger than those of a single person, if you decide to have a partner, take great care in Choose it, a partner is a marriage so choose well ok.
4.-Competition exists for everyone and in everything.
One of the first mistakes we made in our first business (even in the business plan) was to think that we had no competition for the level of service innovation, you do not know how much we would have wanted to read this before starting our first business years ago , You will always have competition and you can classify them in:
Direct competition: offer the same as you
Indirect competition: They offer something similar to yours or substitute, the most important is that they go on the same market as you, okay?
Ignorance: Yes, ignorance is also your competition more when your business has a high degree of innovation, think so you have to overcome the ignorance of people to be able to sell more.
5.-Is your business passion?
We have already spoken to you about this, do not undertake anything if you do not have a great faith and passion for this, you must have a faith so great that you must act as if failure was impossible, you must have a passion so great that your most desired day On Mondays because you know that a new week begins for your business.
If you do not have this think again before undertaking
6.-Are you ready for fears, criticism and discouragement?
That’s right, prepare your mind to deal with difficult situations, understand this, you’re not doing something normal, normal people look for a “safe” job and are happy enjoying their weekends celebrating the end of the work week and can escape a little Of your reality, You are doing something out of the ordinary you are going to leave your comfort zone, you are going to face critics (the most destructive ones) that you have to ignore or to take value of it, your fears will come afloat and believe me you will have That to face them and at last is the discouragement that can come even from your family.
7. Say goodbye to the perfect.
This is another mistake that has won me the fight many times, When you undertake you must understand that your product, service or the whole company will never be 100% perfect here what counts is to act regardless of whether it is perfect or not, studies large companies Most of them always run in beta versions (version with flaws and approve) for at least 5 years and after that time it keeps changing only that now they call it updates or restructurings.
Understand it nothing will be perfect but in spite of that you have to act, do not stop, keep on the road no matter that your first product is destroyed by criticism, in the long run that is cheaper than to continue waiting for the perfection that never came.
8.-Diversifies too much and dies
This is one of the most common mistakes and of course I have fallen into it, when you start for the first time, you try to satisfy your customers or prospects in everything they ask you, that leads you many times to say YES to many things You are not ready or are not part of your company and then diversification begins, which in a very short time ends up wasting you in time, money and efforts.
Stay focused on your initial plan, if it is too large focus on short and precise goals work on them and advance to the next. “The fight is won step by step”
9.-Money is not an obstacle or your goal.
If right now you are not starting for lack of money, something you are doing wrong, let me explain this well, many dreams and ideas will never see the light on the pretext that they do not have the resources to undertake, here I give you two options for To end this pretext.
Today there are as many new financing options as Crowdfunding, government programs, private banking programs, competitions, venture capital and many more, that it is difficult for you to exhaust all possibilities without getting help for your venture.
Suppose you took all possibilities and did not find funding anywhere, what you have to do is remember point 7 of this post, start your business with the most austere and simple version possible reduce your business plan to a minimum and made that Idea, the idea here is do not stop and start.
Now that we are talking about money I want you to always keep in mind that money is not your goal, the dream is your true objective.