Beginning a startup can be a difficult and terrifying process but, with the correct preparation and information, it’s possible to make the path more accessible.
Mexico is one of the countries with biggest entrepreneurship culture in all Latin America. According to the National Survey on Productivity and Competitiveness of Micro, Small and Medium Enterprises, in our country there are 4.2 million of economic units, and 99.8% of those are considered Small and Medium Enterprises (PyMEs). This data clearly shows the force of the entrepreneur spirit that Mexicans have.
If you have decided to begin a startup, we’ll present 6 tips that will help you in this complex process.
1. Don’t be afraid
Did you know that 1 in every 3 Mexicans that want to start a business don’t do it for fear of failure? Fear can be our biggest enemy when starting a business, but we can’t let it stop us. Although beginning a business will always be a risk, if we’re sure of our ideas and projects we must be willing to take a chance.
2. Search for support from institutions
In Mexico, there are several associations dedicated to support and mentor every person that wants to start a business. It’s important that you know these associations and approach them when beginning your project. Some of the most important in Mexico are Programa Nacional de Emprendedores, Programa Asesoría Financiera PyME, Asociación de Emprendedores de México and the Instituto Nacional del Emprendedor.
3. Think of the Mexican market
An important factor that can determine the success of your project is how good your product or service responds to the necessities of the Mexican market. Before beginning your startup, think and analyze the Mexican consumer – which are their tastes, their fears, their goals, etc.
If you know your market well, you’ll be able to offer better solutions and services, which will definitively help in your path to success.
4. Take advantage of the digital tools
We live in a digital world and, when beginning a startup, we cannot forget to use these digital elements in our strategy. One of the first tasks you must do when beginning a startup is to create a website for your project. It’s also important to consider the importance of social media presence; your company doesn’t have to be every single one, but you do have to be in those that are relevant for your target market.
Additionally, don’t forget the free tools offered by Google, such as Google My Business, with which you can create a commercial profile for free.
5. Surround yourself with a good team
Starting a business is hard, but it’s easier if you have good people with you! It’s important that you surround yourself with a strong, solid team that provides different strengths and perspectives to your project.
When resolving problems and looking for solutions, generally two (or more) heads think better than one.
6. Learn to adapt
Finally, one of the most important skills an entrepreneur (or anyone in general) can have today is the one to adapt quickly to any situation. We’re experiencing changes and technological advances at sudden and faster rates, so it’s crucial that an entrepreneur can adapt to these changes and implement new technologies in their business model.
Giving the first step towards a new business is a very important decision that will have a significative impact in your professional and personal life. When making this decision, you must be prepared to confront constant challenges and disappointing moments, but it is important to not lose your patience and faith in your project.
We hope that these tips help and inspire you to keep on your entrepreneur path.
