The World Entrepreneurship Day is celebrated every 16th of April, a date that aims at giving visibility to a booming sector worldwide. We celebrate the entrepreneurial spirit that drives individuals to produce ideas that will later be develop in order to change the world.
Being an entrepreneur in Spain is harder than in other countries. The Spanish entrepreneur profile corresponds to a 28-years-old man with higher studies, according to a study conducted by Trivu.
Currently, we have the most entrepreneurial generations in history: The Millennials and Generation Z. Hence, people born from 1980 onwards, they have lived all the technological development and digitization of the economy and they have managed to overcome all the hurdles of self-employment.
Both generations have left behind that old idea that only if you work for a large company or even for the Government you can be proud of your profession. These young people are currently 18-38 years old. They are committed to create innovative businesses that can probably change the world.
As investors, entrepreneurs, media, venture capital funds, incubators, and other members of the entrepreneurial ecosystem, our task is to fight in order to achieve that becoming an entrepreneur be an easier thing in our countries. The more entrepreneurs a country has, the stronger it will be.
Moreover, 6 out of 10 entrepreneurs are men, although it is true that over the years this trend is changing, as we noted in our article on the entrepreneurial woman.
We give 6 useful tips for those who have enthusiasm, desire, an idea… but don’t know how to start:
- DEFINE your value proposal. Analyse your business idea and find out what needs it meets or what problems it solves in the market, always aim for differentiation and innovation.
- PLAN, plan and plan. A good business idea is certainly the basis of every business, but it won’t succeed if there isn’t a good plan to boost it. Conduct a market study, structure and develop your business model based on realistic and achievable ideas. Failure is possible, but less likely if you have thought well of what to do and how to do it first.
- TEAM. A good plan is a must, working with the right people to develop it as well: friends are fine, but for the development of a business project you need a team that believes in it and that provides the knowledge and experience to start it. Try to be with people better than you, they will complement you, they will help you minimize you flaws and help you enhance the project.
- CONVINCE YOURSELF AND CONVINCE THE REST. Your idea is good. You have to believe in it so that others believe it too. It is essential that you are convinced you can achieve success and to structure a strong discourse to send your proposals to potential investors and clients.
- LAUNCH A PROJECT. Getting into the real life is essential: go to the market as soon as possible, create a prototype, test its behaviour, analyse results, optimize what works and get rid of what doesn’t, change strategy if necessary.
- FIND USEFUL SUPPORT. Believe it or not, you’re not alone. Research in the entrepreneurial ecosystem in your area: there surely are entities in your environment and aids for entrepreneurs that you didn’t even imagine. Accelerators, companies and other institutions with experience advising entrepreneurs will be useful for you. Don’t be afraid to ask them for help, to expose your project, to listen to criticism that will allow you to improve your project and to take advantage of all that is offered to you and that will certainly help you grow.
Fellow Funders encourages you to keep working and to make your way in the entrepreneurial world. After many “no” there will always be a “yes” that will encourage you to move forward.
Congratulations to those who have had the courage to develop their initiatives and we encourage those who are about to do it!