Know where to start when starting your own business

Have yours own business Being your boss is the desire of many people, but putting it into practice requires knowledge, entrepreneurship, and willingness. Having your own business involves several risks and several advantages as well. Want to start planning this new career horizon today? See tips from experts interviewed by Tips.

IBE / FGV economist and professor Paulo Grandi explains that we need to make sure that we have a entrepreneurial profile before setting up your own business. "To be a good entrepreneur requires characteristics such as forward thinking, initiative, ability to innovate and manage teams, and determination and firmness." It is worth investing in entrepreneurship courses to leverage your knowledge.

Defining the type of business to set up is a task of great value. It is important to opt for any branch or type of business that you have already operated or have some knowledge of. You don't have to be an expert in the business, but you need to have a minimum affinity ?, explains Franchising and Marketing expert Samuel Quintans.

Once the branch is established, the entrepreneur will go into business planning. This phase helps to lower the risks and increase your chances of success. For this Quintans suggests the elaboration of a Business Plan. The document will detail the strategic guidelines, positioning and market differentials, the investments required, the target audience, the products, the organization, the team setup, and the expense and billing forecast. "Redo the plans as many times as necessary and if you have difficulty, don't hesitate to ask for help from experts," says Grandi.

In this step the capital needed to set up the business . Values ​​always depend on the type of business you choose, but it is important to invest safely. "Ideally, you have the amount you need to set up the business and one more reserve, between 20% and 30% of what was needed for assembly, as working capital for the first months of business operation," explains Quintans. If you do not have all the money to invest, you may choose to acquire credit at the bank. Study proposals and fees and if possible, opt for public banks that encourage entrepreneurship.

It is always good to set a deadline for each step of the business setup and especially for the opening of the business. This will avoid divergence in constantly changing business plan market data, as well as expenses for renting a business location, for example.

An investment option that can minimize business risks and also suggest faster returns is franchises . By having generally established brands and models that carry experience, the franchise facilitates some parts of the process of setting up a business. Even so it does not exclude the need to do extensive research, if possible talk to at least 50% of franchisees about the relationship with the franchisor, level of financial return, organization and so on. "The downside of this type of business is the franchisee's lower autonomy, which needs to follow brand-specific determinations," Grandi explains.

O business return It will depend on many factors such as industry, investment values ​​and even the market. But according to Samuel Quintans can range from 6 months to 2 years.

The top 7 things NOT to do when starting a business (January 2021)

  • Career & Finance
  • 1,230