Entrepreneur: How to Start from Scratch and without Financial Support

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Be an Entrepreneur

Going from zero point to being a global company without any type of financial support – beyond bank loans – contains many lessons and a single great certainty: to undertake is to defend a projection that we are passionate about, and to be convinced that we are building on things that they are really going to happen. Being an entrepreneur without financing rounds is not a simple adventure, but it leaves some lessons and advice that should be kept in mind to get you started in this world.

The main capital of an entrepreneur is his intuition, which has to do with his capacity to read in the signs of the present the tendencies that will impact in the future. Intuition is a very powerful tool, but you have to know how to orientate it. For that, education is basic and, although there is no school for entrepreneurs, it is necessary to continue training always.

Cultivating intuition is also living in a tension that allows you to realize the transcendental moment that the world is witnessing. Today the change is brutal, access to information, robots increasingly sophisticated and intelligent have become our life partners. Digitization, automation and virtuality have arrived to be installed in our day to day. Anticipating this is essential to monetize it in the present.

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Be free and rigorous at the same time

When you do not have money, exploiting your intuition for business represents a greater challenge. However, not having economic support conditions you and frees you at the same time. It makes you cautious and free at the same time. You do not have to answer to anyone when making decisions: if you lose, you lose yours. This way you acquire a great responsibility before the risk, you take it very seriously and you risk in the best possible way. The austerity and economic rigor also makes you very strategic in spending and very demanding when charging, in order to pay on time, for example, suppliers and achieve financial health.

Earn less and reinvest

One of the main objectives is to create value within the company. This allows you some slack capital and have more long-term tools. But reinvesting involves sacrifices such as, for example, charging less than industry; that is, in your same position and experience you could be in better paid jobs. Here you have to decide between the individual benefit or concentrate on what is best for the company.

In addition to reinvesting, it is important to determine a business criterion based on what you know how to do well. The key is to be aware of what you do well and do it, instead of pretending to always be above your capabilities.

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Invest in people, grow from within

Investing in people and culture is key to the development of the company. You could earn more if your offices are on the outskirts instead of in central locations that benefit employees or if you make precarious contracts. But the truth is that hiring people indefinitely with competitive salaries is one of the keys that can help you grow. Investing in your corporate culture makes you grow with some homogeneity.

 

Have the ability to project

A key learning for growth is to detect the hinge moments and be able to clearly communicate the point where we want to reach. And that projection has to be exciting. Because not everything is austerity, you also have to be able to detect those moments in which you have to take the leap and bet.

Defining what you want is what makes you capable of going towards it and, when you achieve that others understand, you have the first signs of a project in operation.

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