It is increasingly common to hear about entrepreneurs, in fact, this has become one of the main employment paths for young people since 33% of Mexican entrepreneurs are between 25 and 34 years old. In addition to this, the Young Business Talents (YBT) business simulation program showed that 65.8% of young people interviewed, aged 15 to 21, maintain the option of undertaking in the future as one of their main goals.
Initially, an important aspect is to be clear about the motivation to undertake and not forget the objectives because, although the road will not be easy, it will be worth taking the step to achieve a better financial situation, emotional tranquility by no longer having to deal with with the stress or anxiety generated by unemployment and being able to own the time that will be dedicated to the business.
Main challenges for an entrepreneur
- Not having the necessary capital to start
One of the problems that entrepreneurs face is not having enough capital, however, currently, there are many supports to start a business, and so many resources are not needed to generate ideas and start a small business online.
- The competition is very high
Because more people have decided to start a business, you should analyze the business possibilities to start and try to have some extra element that makes you different from others; It can be offering an innovative product or generating efficient and friendly customer service.
- The customer does not buy
There will be seasons in which the expected profits may not be generated, to face this situation, patience, enthusiasm and correct execution of the crisis strategy should be part of the qualities of an entrepreneur.
What is the best time to start a business?
Currently, there is easy access to many resources and information thanks to the internet and technologies, with which it is understood why entrepreneurship is easier. In this way, functional business practices can be learned and trained in industry trends, since being versatile is already part of the characteristics of an entrepreneur.
On the resource side, the fact that a person can learn to do several things means less hiring of employees and more money to invest, but, if you prefer to hire a few people, it will not be necessary to occupy part of the budget in a large office, since nowadays people can work from home and, if required, establish a day to detail the progress or pending that must be addressed.
In the past, it was believed that the connection with someone influential was necessary to undertake, however, that idea has collapsed with the help of the internet, which makes projects more visible. This explains part of the importance of knowing the different types of businesses to undertake and from that to generate a marketing strategy that provides greater reach.
Additionally, there are new consumption habits that change over time, therefore, another of the qualities of an entrepreneur will be knowing how to create products and content suitable for their brand and being able to transmit it through the channels of greater consumption.
Definitely, at present, the scenario is more flexible, and to start it is enough to acquire the characteristics of an entrepreneur necessary to start a business and generate profitable profits not only in finances but also in time and quality of life.