5 Tips before starting a business

Advice can be found in books, Youtube videos, friends or acquaintances who have their business or with mentors from entrepreneurship courses in Mexico.

Whichever way you are looking for support, you are on the right track, since as an entrepreneur you should know that we can not do everything believing that we can do it all alone, or that we already know it all.

As an entrepreneur sometimes there are moments where you say, I wish I had known this or that before, so in this article I share with you some of the advice I would have liked to receive when starting my projects.

5 Tips before starting a business
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Table of Contents

Don't stop educating yourself

Something very important in the career of an entrepreneur is not to stop studying. It is very important to keep encouraging self-study, because this way you can continue to develop in your area, and you can also learn new or different models to apply in a new business.

There are platforms that help with courses for entrepreneurs such as Superprof, which gives the facility to study from home via online, with different prices for different budgets, and with the possibility of contacting different teachers in cities or regions near yours.

Which gives a guideline for the next tip.

Business learning
Young businessman and his mature mentor shaking hands

Seek support from a mentor

Having a mentor is important, because when it comes to entrepreneurship, it becomes easier to follow some steps that others have already done.

Of course, your project will be your way and will have your innovation, that is why the mentor serves as a person who can provide you with methodologies and experiences that you can implement in your project.

Don't forget your partner, Tax authorities

It is very important for every entrepreneur not to forget the tax authorities in any planning.

Being registered before starting a business is a legal requirement, so it is important to contact an accountant to help you with the process of registering as a company.

Once your business is operating, do not think that all the income you earn is for your own use, but you must also take into account that you will be paying the corresponding taxes.

Team of innovators.

Assemble your team according to skills

As mentioned at the beginning, entrepreneurship is not only exclusive to work alone for a long time.

Of course, as your project generates more income, and gives you the opportunity to hire someone, it would be ideal to incorporate more people to your project according to the skills that can complement yours.

A recommendation at the beginning is to work on a par with some freelancers, since you pay for their services, and not for a salary, so you can look for people who fit your budget.

Do not be afraid of risks

It is impossible to think of a business that does not involve some risk. The entrepreneur also has to be open to the uncertainty of the future, of the different sales seasons that may arise, mainly the so-called lean seasons.

Even if an entrepreneur has a business plan in place, it will be impossible to predict what the future will be like. If there will be changes in some regulations, if there will be more competitors, or as in 2020, some pandemic will force you to close your business and offices.

The entrepreneur at the time of starting, must be aware that several unexpected situations may occur, that is why he should not use it as an excuse not to start.

More about Entrepreneurial Ecosystem.