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Finding a job is not always an easy task, and when found, conditions are sometimes not desirable. That is why many people are encouraged to be their own bosses, starting a business.

Below we will see the main keys to keep in mind when making a decision of this type. And if you are interested in starting a business and undertaking through an online business, we recommend you consult the following article: Shopify dropshipping .

Choose the right partners

Starting a business is complicated and requires being in tune with partners, suppliers and employees. When starting a project like this with friends, you have to be especially careful, since it is important to know how to separate business from any relationship.

Hence the importance of signing a partnership agreement that clearly establishes the work of each person in the business. This serves to prevent complicated situations and to be able to find solutions before they need to be found in the middle of a confrontation.

Do a market survey

Doing market research is essential not only to find innovative products , but also to know what the prices are that competitors are driving, or how consumers would welcome those new products that are intended to be put on sale.

Take care of your brand

The brand is one of the main values ​​of the business, which is why it is essential to take care of it in all aspects: register it in accordance with the Law, buy the domains associated with it, pay attention to profiles on social networks, etc.

Secure your financing

The latest quarterly report on the Spanish economy released by the Bank of Spain disclosed that 29% of SMEs in this country applied for bank loans. It is vitally important to negotiate credit agreements when a new business is launched, and to have the cash flow necessary to meet expenses.

Outsource services

By outsourcing services, in addition to professional advice and having someone to add value, certain fixed costs can be reduced.

As with partners and employees, it is essential to choose suppliers well, not always to bet on the cheapest options and to analyze in detail where you need to invest to see what gives the most value to the company.

Set the roles

It must be clear what role each member plays in the project. It is difficult not to be on top and want to cover more than necessary, but it is important to assign roles and act as a leader.

Watch out for the bargains

It is most common that when you are going to face a new business idea, people appear who have a certain interest in participating in it. However, it is recommended to be wary of “great opportunities”, to make a detailed analysis of all the proposals and to sign a document that reflects the roles of the future company and its conditions.

Choose the most appropriate legal form

The future of the Spanish entrepreneur goes, sooner or later, having to decide whether to start as an individual entrepreneur (that is, as a freelance) or to found a company. Each of these formulas has its advantages and disadvantages, taking into account the administrative procedures that each entails, its tax advantages, limited liability and the transfer of capital.

That is why it cannot be said, in general terms, that one is better or worse: it will depend on the type of business that is created.

Think well about your company name

You must bear in mind that the name of your company will be the first thing that your future clients and partners see, so you must dedicate the necessary time to think carefully about the choice.

Ideally, it should be a name that is easy to remember, short and positive, and if it is possible that it hints to a certain extent the value proposition of the brand. It is essential that it cannot be confused with that of other businesses and that it does not have strange meanings in other languages.

Learn how to convince potential investors and clients

You are going to have to “sell” your business, so it is especially important that you prepare a business plan to be very clear about all aspects of it. It is also essential to take care of both the form and the background, to give a professional image at all times, and always speak in the present better than in conditional.

When talking to a potential investor, you want to maximize the profitability of your investment. Therefore you will have to take care from the first moment of the conditions of collaboration with your partners.

Keep in mind regarding customers, that once you convince a few you have already started the path to get potential investors. The key is to be patient and be persistent.

 

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