Entrepreneurship is not just opening a business; It is a journey full of challenges, learning and rewards. I can say that it is immersing yourself in a world in which you will have to learn very frequently.
Next year I will celebrate 15 years as an entrepreneur, and in that time there have been many lessons learned, challenges and obstacles that needed to be overcome.
A lot of people come and ask me: Tiago, what advice do you give to those who want to start a business? There are many points that need to be considered, so I decided to write this article to talk a little more about them.
1. Self-knowledge, research and planning
Before undertaking, understand your reasons. Entrepreneurship is a winding and often difficult road. Your passion for what you do is what will keep you going through the storms. Know your strengths and weaknesses and be ready to work on them.
Remember that knowledge is power. Therefore, it is essential that you investigate the market, understand your target audience and study the competition.
To do this, create a solid business plan that serves as your guide and shows where you want to go. Remember, a prepared entrepreneur is one who foresees challenges and anticipates solutions.
2. Support network, flexibility and adaptation
Networking is more than just meeting people; it’s about creating valuable relationships. A solid network can open doors to opportunities, partnerships, and even solutions to problems you will face.
In Ireland, for example, our culture of pubs and frequent meetings favors the formation of strong bonds between entrepreneurs. And that I think is fantastic.
However, I know that in addition to networking, it is also vital to be flexible and know how to adapt. The COVID-19 pandemic, for example, has shown how the ability to adapt is crucial for the survival and growth of a business.
3. Mental health and continuous learning
The stress and pressure of entrepreneurship can be overwhelming. It is essential to find a balance between work and leisure, as well as seeking support when necessary. Remember: a healthy entrepreneur (physically and mentally) makes better decisions.
Furthermore, always leave time to dedicate yourself to courses, workshops and seminars. In the language sector, for example, new methods emerge, and technology advances. Always be ahead of the curve to offer the best to your customers.
4. Be prepared to fail
Failure is an inevitable part of the entrepreneurial journey. Instead of fearing it, embrace it. Learn from your mistakes and use them as a springboard to success. Failure is not the end, but rather an opportunity to start over with more wisdom.
Understand that entrepreneurship is an adventure that requires courage, resilience and dedication. Based on my trajectory, these are the pieces of advice that I find essential and that I want to share with those who have a burning passion to create and innovate.
