A business can differentiate itself thanks to the quality of its products or services.
Entrepreneurship is the effect of undertaking , a verb that refers to carrying out a work or business . Entrepreneurship is usually a project that is developed with effort and facing various difficulties, with the resolution of reaching a certain point.
It should be noted that the term is not part of the dictionary of the Royal Spanish Academy (RAE) . Its most common use appears in the field of economics and business. In this case, a venture is an initiative of an individual who assumes an economic risk or who invests resources with the aim of taking advantage of an opportunity offered by the market.
Characteristics of an entrepreneur
The individual who starts a business or creates a small company on his or her own initiative is known as an entrepreneur . In times of crisis, entrepreneurship usually represents a way out (or, at least, a possibility of growth) for people who are unemployed .
Experts maintain that entrepreneurs must have certain capabilities to be successful: flexibility, adaptability , dynamism, resilience, creativity, drive, etc. These are necessary values since ventures face all kinds of difficulties and those who promote them must be able to adapt to a changing reality and assume responsibility for decision-making. It is worth mentioning that teamwork is usually the best way when promoting a project , since collaboration and communication enhance the virtues of each member.
It is important to consider that, when creating companies, you must always have a strategy . The entrepreneur or businessman has to take into account how he will obtain financing for the start-up, what investment he will need, where the income will come from, what his marketing plan will be, etc. The idea is that, at the time of launch, you have a business plan that serves as a guide and that contributes to the search for profitability and sustainability of the venture.
How a business arises
Every venture is born from an idea that, for various reasons, awakens enough interest in one or more people to embark on an arduous and uncertain journey that aims to make said idea a reality. Nowadays, thanks to the possibilities offered by technology, it is not always necessary to have money to start a business ; but certain elements, such as will, perseverance and determination, remain essential.
One of the most common mistakes made by first-time entrepreneurs is to aim to make a profit during the first two or three months. Depending on the sector, and assuming that all necessary efforts are made in all possible aspects, positive results generally begin to be seen after six months, although many times a year of uninterrupted activity is necessary.
This is why a good entrepreneurship only exists if it is undertaken by people determined to face adversity and continue fighting without exception, both against the setbacks of the economy and the lack of loyalty of the competition .
It is important to think about the sustainable development of entrepreneurship.
Previous steps
There are several previous steps that must be completed before the concrete launch of the venture on the market. Legal advice is one of them, to guarantee that all the actions that will be carried out are in order.
Developing a market analysis is also key. This allows knowing the framework in which it will operate. Costs must also be analyzed to establish a pricing strategy .
With an optimistic and long-term outlook, the possible expansion of the venture must be considered. In this context, notions such as scalability and internationalization appear.
Of course, these issues and the business model depend on the objectives set for the venture and the needs of the entrepreneur. Projections are relevant but lose their value when the project is simply a survival resource in the face of lack of work and the sales achieved will simply provide the money to satisfy basic needs.
E-commerce is a resource that can contribute to the growth of a business.
The keys to the success of a business
One of the keys to success in life, in and out of business, is understanding and accepting that the planet belongs to everyone or, depending on your perspective, that it belongs to no one. Creating a company is not always a pleasant experience; Many times, we do not receive a reward commensurate with the effort put in, and it is important to know that this can happen, especially when someone with more resources stands between us and our dreams.
The most outstanding ventures usually have in common a high degree of creativity and innovation, they show ideas that had not been exploited before or use them in a field different from that which is customary. In general, originality is worth more than money, ingenuity than marketing studies, as well as being timely rather than precarious. A good idea, worked on for years, polished, that reaches the market too late can go unnoticed; On the other hand, a mediocre product at the right time can become a resounding success.
Beyond business, a venture is an action or campaign that requires a lot of effort . For example: "The team failed in its venture through African lands but the people knew how to recognize its dedication and sacrifice ," "The venture came to fruition and the organization collected several tons of non-perishable food."