Because throwing the dependency relationship overboard and diving headlong into that project that you had been thinking about for a long time is worth it, we will tell you the best tips so that once and for all you are encouraged to do it.

Saying that being an entrepreneur is fashionable is fallacious. Rather, it could be said that it is a generation of young people at a certain socio-historical moment, which opens up to new careers, fields and specialties. His grandparents dreamed of “my son the doctor,” and many of their children fulfilled it. But the children of those doctors, lawyers and accountants are no longer inclined towards traditional careers. From a mini gastronomic venture, to crafts or handmade furniture, there are many who seek to get out of the traditional employment scheme and put creativity and self-employment as a necessary condition.

But to be an entrepreneur you have to invest time and money and for that, you don't have to bet blindly. Researching the sector, similar businesses, short- and long-term growth possibilities is essential to transform a dream into a profitable project.

As they say in Alcoholics Anonymous, recognizing, in this case that our work is no longer going and we want to be independent, is the first step. For the other steps, we give you ten tips, advised by specialists, that you have to take into account.

1. Conduct an exhaustive market study: investigating the potential market is essential. That is, knowing in depth the tastes, behavior, and preferences of our potential clients. We must try to “get into the minds” of our future clients.

2. Analyze the competition: evaluate what our potential competitors are doing (what they offer, how they do it, at what price, where they are located, etc.)

3. Clearly establish the differentiation of the product or service that we are going to offer (whether in terms of the design of the product or service itself, the form of distribution, after-sales service, etc.).

4. Achieve the right balance to “move forward.” Be positive but not naive.

5. Put together a business strategy, a business plan.

6. Do a financial economic analysis: To determine the economic viability of the project, the corresponding estimates must be made, profitability calculation, necessary balance point, investment repayment time, etc.

7. Define whether you are going to start alone or look for a partner.

8. Initial capital to invest: evaluate the need to have external capital.

9. It is always advisable to plan: even if it is in the short term, outline the skeleton on which your project sits and certain goals - not impossible - to achieve.

10. Be clear that when you start a business, you do not work less, but in general it is the opposite. Being willing to invest a lot of time and energy is essential.

Expert consulted: Eng. Sandra Felsenstein

Link: https://lalalanews.com.ar/lifestyle/diez-claves-para-emprendimientos-exitosos_n394