In Colombia, more and more people are betting on the creation of a business, because it generates financial independence and new opportunities to meet their goals. See more news on Personal Finance here
According to the Network of Chambers of Commerce, 2021 closed with a very positive balance in terms of entrepreneurship in the country: between January and December, 307,679 new companies were created throughout the national territory, an increase of 10.6% compared to 2020.
In this sense, and with the aim of encouraging more Colombians to start their business, DataCrédito Experian shares 6 tips to lose the fear of undertaking:
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- Trust your abilities
Confidence is one of the essential points for an entrepreneur, because in order to start a new business, it is necessary that you fully trust your skills and abilities to overcome any adversity that may arise.
- learn new skills
It is extremely important to continue learning as you grow your business. Thus, you will be able to apply new knowledge, better understand your customers and take advantage of trends to continue innovating. Today stands a wide range of free virtual courses on multiple topics of interest.
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One of the reasons why many people decide to create their own company and sometimes even leave their usual job, is to pursue those goals that they once dreamed of achieving. Think about everything you would like to accomplish with the business and how you will feel when you are successful.
- Do proper planning
It is important to have adequate planning on the costs, expenses and sales that are expected in the first months of the business.
Within the expenses of the enterprise it is important to keep in mind the costs of the operation and the installment of the credits that must be paid in case it has been necessary to cover an initial investment.
On the sales side, it is advisable to make conservative projections, keeping in mind that a venture can take time to take off and in many cases the benefits are seen in the medium term.
Sometimes there are small unnecessary expenses, of which we often do not realize, which will possibly generate future losses.. It’s important to be financially conscious, and when it comes to spending, you should always focus on your goals.
It is important that you carry out an analysis of your current clients and potential clients, which will allow you to identify new opportunities of business and surely give them credit with a controlled risk, knowing their payment behavior, their indebtedness capacity, the customer’s estimated income and the probability of payment.
- Dare to use tools that make your job easier
Using digital tools when starting a business can facilitate decision-making, reach a more diverse audience, be better organized and create a sustainable business model. Take these tips into account and dare to undertake.