Many people dream of opening their Starting Your Own Business, but are afraid to leave the supposed stability already achieved in their careers. Taking charge of your future and entering a competitive market leads to many dropouts. However, ignoring expectations is even more complicated.

It is worth taking a risk - with caution, of course. The decision to undertake is a complex one, but it is correct when made with conscience. Every action requires planning, and this prerogative is also valid for opening your business. The question is: what should be evaluated in this process?

The answer to that question understands the challenges you will face as your own boss. For this reason, we have gathered in this post the 7 main steps to take courage and move forward with entrepreneurship.

So, how about taking that dose of courage?

Reflect: why open your own business?

The total number of ventures created in India continues to grow. Experian Company Birth Indicator registered the opening of more than 2.2 million new businesses. Many factors justify this result, including the increase in unemployment, which led many people to opt for this measure due to the need.

However, there are a large number of India who take advantage of the situation to make their dream come true. After all, entrepreneurship means achieving independence, making your own schedule, having more time for the family and achieving the long-awaited financial stability for the present and for the future.

Despite all these benefits, it is common to be in doubt about the reasons that justify the opening of the business itself. The following are the main reasons that encourage anyone to follow this path:

You choose your team

One of the problems faced when we started working at a company is adapting to the already consolidated scenario. As you are part of the company's staff, it is up to you to adjust and learn to live with colleagues, regardless of whether they become your friends or have many differences in relation to what you think.

This situation can be easily overcome by some people. But in other cases, it becomes martyrdom and can even affect productivity. In other words, the results achieved are not always the best because the team has these differences.

As an entrepreneur, you are responsible for choosing the people you will work with. The ideal is to select them for competence and professionalism. Thus, they all aim at a common good and it is easier to close a circle of trust.

You own your own time

Autonomy is one of the main principles of entrepreneurship. You are your own boss and you can set the times when you will work.

However, you can be sure that it will work even harder. There are several bureaucratic processes that require care.

On the other hand, you can still make your commitments more flexible, which allows you to better balance your professional and personal life.

You will have control over your success

The financial independence depends on you only when it is of an entrepreneur. It is essential to stop making mistakes and measure your productivity to avoid wasting time with trivial situations.

In addition, this is the opportunity to put your knowledge into practice. Just make the right, data-based decisions.

You will be able to structure your future

The start of a business of its own brings the chance to create a personal patrimony. When you are a wage earner, the purchase of goods is limited because your income is also limited. When opting for entrepreneurship, there is the possibility of having a better future based on the choices you will make and the management carried out.

Realize that this aspect has everything to do with your finances. After all, the company will only survive if it makes a profit - and that is where its earnings come from. At the same time, it is possible to make investments to improve business growth.

You can contribute to society

An entrepreneur has the opportunity to collaborate with the whole society. While proposing solutions by offering products and services, it generates jobs and stimulates the economy.

For this reason, more than personal satisfaction, opening a business of its own is a path that makes it possible to contribute to social well-being and to implement other ideas, such as that of socio environmental responsibility.

Lose the fear of entrepreneurship

The desire to start your business is often limited by the fear of losing everything. This fear is doable, but believe me: it is possible to lose it and start your journey. It all depends on the preparation and support of friends and family.

However, how to do this? Here are some tips to help you prepare and put your fear aside:

Get ready

The segment in which you will operate requires planning, regardless of the branch you choose. This step involves getting to know the market through research that involves:

• the chances of succeeding;

• competition analysis,

• the financial and marketing plan ;

• The general viability of the enterprise.

Take the opportunity to study about the industry, talk to other entrepreneurs, participate in courses and events and any attitude that results in knowledge.

Use appropriate tools - such as Canvas, economic scenario testing and Minimum Viable Product (MPV) - for the preparation process.

Keep in mind that the goal is to visualize your business before you even start it. This is the best way to keep in mind what you are going to do and to familiarize yourself with the reality that will emerge.

Believe in your idea

Self-confidence is essential if you want to be successful. Making sure that your idea is good and will work is the 1st step to get where you want, because that is how you will pass on credibility to your customers, suppliers and partners.

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When you think about giving up, consider the support of family and friends, who can give you that push you need so badly.

Opt for a tried and tested business model

Opening a business from 0 is more complicated, because you have to do absolutely everything.

When participating in a franchise , for example, you can lose your fear of entrepreneurship, because the products and services sold have been approved by the target audience. This increases your chance of success and avoids many obstacles.

Be flexible

The challenges of entrepreneurship will always arise, but it is necessary to focus on the objectives. Remember the planning carried out and make decisions consistent with what you have previously established.

It is also recommended to be resilient and persistent, because difficulties will arise and you need to believe in order to move on.

Start small

The option of opening a large business is not always the best idea. Take it one step at a time and conquer your space. In addition to this attitude increasing your chances of success, you know that if you get losses, they will be less and less traumatic.

At this point, you must be thinking: “I already believe in my idea and I know that I need to start my business, but I still don't have all the necessary capital. What to do?". The next tip will answer that question ...

Know where to get money to start the business

Effort, goodwill and persistence are essential elements to open your own business. However, capital is also essential. Otherwise, you will find it difficult to do what you want.

In this scenario, it is necessary to visualize 2 aspects:

• the amount required for the opening of your company;

• The working capital essential for the operation of the site for a few months.

To calculate how much you should have available, think about the market in which you will operate and also other items, such as:

• hiring employees;

• suppliers payment;

• purchase of materials and machinery;

• Space rental.

These expenses must be added to the required initial capital. Also think about short-term expenses, because the money must be directed especially towards paying them. However, how to get the total amount needed?

Check out some alternatives below:

Apply for a loan

The help of a bank can be the starting point for your business. There are specific lines for business development that have more attractive interest rates. However, it is essential to have good planning to present to the financial institution and avoid unnecessary debt.

It is recommended to outline a business plan that contemplates the creation of goals and the necessary capital. Also include:

• description of the market in which it intends to operate;

• services or products you will offer;

• objectives and goals to be achieved;

• marketing strategy;

• monthly financial projection valid for the period of 3 to 5 years;

Exit strategy, that is, the way in which the initial investment will return, either by seeking partners or by other measures, even the sale of the business.

With all these guarantees, it will be easier to get your loan and pay it off later.

Form a savings

The ideal is to invest in your business with your own resources. Of course, this alternative takes more time, but it is the most recommended. Another option is to combine it with another financing format.

In this case, it is worth investing the amount saved so that it yields more. The best is fixed income, since the chances of loss in this modality are almost nil. Among the options are Treasury Direct, Bank Deposit Certificate (CDB) and Letters of Real Estate Credit (LCI) and Agribusiness (LCA).

You can still sell something, such as real estate or a car, to get money quickly and be able to start your business without needing third party financing.

Have a partner

The goal here is to have a person who believes in the company, share the expenses and share the cost of the initial capital. However, this choice must be made carefully so that all details are considered and the chance of achieving positive results increases.

It is, therefore, a very interesting alternative, especially if the partner has skills and competencies complementary to his. This makes it easier to manage the company together and make more gains.

Look for a funding agency

Financial incentives can be obtained through federal, state or municipal government initiatives, in addition to development agencies and banks aimed at creating new businesses.

Incentive programs and projects for research and innovation can help you in the beginning of the venture.

Opt for crowd funding

This alternative is still recent in India, but it has been gaining strength. The goal is to present your project on an online platform and wait for other people to donate to put your idea into practice. To do this, it is necessary to do good planning, in addition to initiative and organization.

Did you get the money? Half your problems are solved. Now the time has come to know what characteristics to develop.

Prepare yourself as an entrepreneur

Success in entrepreneurship depends on some competencies and skills that can be developed. However, for this to happen, it is essential to know how to work and conquer them.

In this scenario, it is essential to have the following requirements to be successful :

Initiative

Opportunities must be pursued constantly. This involves knowledge of the market in which it will operate and planning. Thus, you act more correctly and tend to achieve success.

Perseverance

Choosing to open your own business requires facing many risks and challenges. They are inherent in your walk and you will often have to face them alone. Therefore, persistence is indispensable.

However, avoid stubbornness. Insisting on a product that is not well accepted can make your company go bankrupt. In other words, it is necessary to know when it is time to retreat.

Planning capacity

Action plans are a good way to know where your business is, where you want to go and what to do. They must be prioritized. When put into practice, they require monitoring, correction and review. In this way it is possible to find the best alternatives to achieve the objectives set.

Efficiency and quality

The entrepreneur needs to ensure that the resources invested are well used. It is also essential to win over the customer and direct efforts to the best opportunities. Thus, you will be able to do everything you like and stop living just to work without harming the results achieved.

Leadership

The entrepreneur must also be the leader in his company. Among its responsibilities are:

• listening to customers and employees;

• knowing how to stimulate the team;

• encourage their motivation and commitment.

Keep in mind that the best principle is to set an example.

Seek knowledge from other entrepreneurs

The so-called contact network (or networking) is essential to exchange experiences and knowledge. Talking to other entrepreneurs is essential when starting a business, because that is how you will be able to create a reputation and broaden your view of other ventures and sectors of activity.

To seek knowledge, it is also necessary to participate in events that bring together different entrepreneurs, from yours and from other segments. Think of these opportunities as chances to clarify doubts and come up with new ideas.

Check out other suggestions to improve your networking:

Look at other entrepreneurs as partners

Owners of other companies should be viewed as colleagues, not enemies. Realize that in order to grow, your company needs allies. This involves mutual assistance and information sharing.

Be humble

The act of wanting to stand out and be the protagonist is seen as unnecessary and tends to alienate people. The ideal is to serve people and make the most of that experience.

Relate

The 1st step to success is to stop wanting to just sell. Choose to relate to people and then establish contact with the purpose of selling.

Bring people together

Entrepreneurs and potential partners should be introduced to each other, and ideally, you should do so. Thus, it will serve as a reference and will be able to increase your networking.

Get ready

The study of the market and the event in which you will participate is essential to extract the maximum opportunities. Be tuned to what happens and get knowledge, because it is from the content that other people approach.

Find sources of inspiration

Do you know those days when everything seems to go wrong and the best thing is to give up? Believe me: this feeling will affect you during the process of entrepreneurship. However, it is in those moments that you need extra strength.

Inspiration through success stories is a good option in these cases. With them you can get:

• learning: suggestions for what can be done, how to react to some situations and which paths are better are absorbed;

• new ideas: insights are obtained , because the sources of the stories launch trends and provide good lessons;

• Inspiration: you get an extra boost to build what you want and change what's around you.

Founder of the Virgin Group, the businessman is known for being bold and enjoying challenging the giants of the sectors in which he operates. However, with the right attitudes, he reached the level of owner of one of the largest holding companies in the world.

Despite all this success, Branson is dyslexic and therefore dropped out of school at the age of 16. It was with the teachings of his parents, who educated him to be self-confident and independent, that he got to where he wanted to be.

Before reaching the top, he performed some actions, such as:

• created the Student magazine at 16, despite having difficulty selling advertising;

• started a mail order record company;

• Opened a chain of stores called Virgin Records, later Virgin Megastores.

Apart from his skills, Silva is also known for sharing his achievements with people. He is a reference in sharing learning and encouraging other entrepreneurs.

Did you like to know the stories? So, now see the last tip to do well in entrepreneurship:

Get to know the franchises

The franchise system is a good opportunity to open your own business. And the numbers support this statement. According to 2017 consolidated data from the Indian Franchising Association, the sector's revenue growth was 8%, reaching more than R $ 163 billion.

Why were these positive results obtained? There are several reasons that justify this issue . Want to see what they are? Check it out below:

Security when opening your own business

The entrepreneur works with a model that has already been tested and approved by customers. This way, you can attract the public more quickly and sell more easily. After all, the brand has already won the trust of consumers and this tends to increase the chances of success.

Franchisor support

The brand you do business with provides all the support and training you need to get started. The idea is that employees know the products and services, their positive and negative points, which service guidelines must be followed and what else is necessary. With the progress of activities, you can still count on the franchisor.

Reduced return on investment

This information should already be included in the Franchise Offer Circular (COF) to give you an idea. However, the turnaround time is shorter than a business that started from 0 precisely because the brand is already consolidated.

Access to know-how

The brand offers all the knowledge necessary for the operation of the unit, as well as the technology required for its operation. This issue directly interferes with the organization of the network and the sharing of experiences, which is facilitated.

In short, Worldwide business setup takes courage, but by following these tips that we have passed on you are ready to take the next step.