How to Start a Business from Scratch?

There is no formula for building a successful business.

There are many factors that influence when building, growing and maintaining a company, and many times even with experience the results are uncertain.

But the best advice I can give you is to start now and learn as quickly as possible.

It does not matter if you are wrong, the important thing is that you move on and learn from your mistakes because in the end, entrepreneurship is about learning and managing to lead your business successfully.

8 tips for starting your own business

Developing your own business is a long process, but with small steps you can quickly start your project.

Here are 8 tips that you should take into account to start a business.

1. Evaluate what type of activity you would like to do

Normally, business ventures are divided into two: company or independent worker.

As I already mentioned, there are no specific formulas to be a successful entrepreneur, so some may start with a business idea, but others are just wanting to start.

For this, you can ask yourself:

Do I want to earn money through my skills? Do I want to earn money through a company that vouches for me?

There is no correct answer; however, I do recommend that you take the time to visualize the type of job you would like to have.

I recommend that you start with your skills, as this will help you generate a personal brand in a specific skill, which will then give you more resources to create a related company.

Another very good option is to explore your interests and passions, since this way you will have greater interest and motivation to grow.

2. Start by validating a business problem

Whether you are starting as a freelancer or generating a business idea, you have to validate its potential as quickly as possible to make the decision to invest your time and money.

You can easily do this by asking yourself the following:

Does the idea solve a problem worth solving?

For example, selling health care products at a time when health is important is a problem worth solving.

3. Validate your idea to solve it

Now that you know which problem to solve, it’s time to validate if your solution is attractive to your potential clients.

For this you can create a prototype version of any idea that comes to mind.

Even if you have a fairly complex idea to prototype, you can get creative and ask yourself what feature of your solution you want to know if it satisfies your customers.

This not only serves to validate if your idea is attractive, but to advance so fast that you can learn and have a clue of what you will need to build different parts of your business: costs, material, logistics, prices, etc.

4. Define your purpose or meaning

Many times the motivation to generate more income is usually the main factor to start a business, but if your venture is related to your vision or a greater purpose, you will have more resources, energy and clarity to develop it.

A purpose is like the greater and deeper why you do what you do.

For example, if you want to make masks, but deep down your purpose has always been to help others and provide them with health and safety; then, that motivation will guide you to make better decisions, even beyond money.

5. Listen a lot and never stop.

Regardless of what stage you are in, you have to know that new businesses are beginning to have a greater social awareness that is why you must really learn to listen to people: their frustrations, their fears, their annoyances, their desires, their motivations, their shortcomings., among others.

Although this recommendation applies to different aspects of your life, when you start a business you have to know that you will be in constant interaction with new people from clients, partners to suppliers.

That is why it is important to listen and actively ask your clients how they feel, since this way you can learn more and receive better advice.

6. Find financing little by little

Do not go into debt, you do not need it until you are in a consolidated stage.

Be careful to finance yourself, since the least you want is to start a business with debt and without security of growth.

What if I need money to get started?

Well, the best way to finance yourself safely is to do it little by little, asking yourself when you really need more money to invest.

And when that happens, you can start with your closest relationships: family and friends.

7. Focus on selling, and especially on adding value

Many times we get stuck in wanting to continue improving the product or service, but very few ideas remain as they begin, focus on selling, learning and giving value to your customers.

The main purpose of a business is to sell, so don’t get bogged down, stay focused; everything you do along the way can be improved little by little.

8. Learn constantly, move forward and be patient

Along the way you will find many doubts, but you should know that it is normal and that you will find the answers in the process. These are some that you will have:

How do I know what to name my brand?

Well, the important thing is to move forward, so choose the one you like the most and continue, later you can change it. Many companies start this way, even Facebook.

How do I set up my company?

Make decisions when necessary, do not complicate yourself with tasks that you do not need yet. When the time comes, learning about details like this will be a priority.

Should I leave work to start a business?

I recommend that you do not do this until you have almost the same income level as your main job, so be patient.

You will have more doubts along the way, but your greatest tool to answer them is through learning: you will have to constantly train and interact with similar and interested people in business, since this way you will learn from them.

Starting a business from scratch is its own and different path, with challenges and opportunities, but above all with a lot of learning. Always learn!