What to do when you start a small business?
If you are trying to be financially free and have decided to start a small business of our own, it is important that you create a solid idea, especially because the ideas to start running a small business are usually limited, as they are mainly focused to meet needs from local markets, but an idea will be as successful as you put your interest on it, enjoying your business will allow you to persevere during difficult times.
Salomón Juan Marcos Villarreal, a Mexican entrepreneur and current president of Grupo Denim, a jeans manufacturer in Mexico, gave us his opinion about business and how they usually succeed.
Interviewer: What would be the main characteristics of a person that can succeed when he starts running his own business?
Salomón Juan Marcos Villarreal: This person must be dedicated to his business, disciplined, he must know about the business he is running so it is important that he reads about it, and takes advices from successful businessmen.
I: Small businesses are good for the economy?
SJMV: Yes, absolutely, they help creating many job sources in all Mexico, they are a great help to the economy of thousands of families.
If you are planning to start a small business, you must first know the following:
- What type of business do you want? – When you start a small business, you will have enough freedom to consider many options, if you work from home, the costs will be significantly lower, so you will not need to earn millions of dollars to have a profitable business, be honest with yourself and always choose and idea that you will enjoy.
- Will you offer a service? – Many ideas for small business consist of offering services to your customers that they might not make by their own and this will give you important earnings.
- Will you sell products? – If you have decided to sell, decide if you will be a retailer or a wholesale seller, the first ones have the advantage to reach customers from many different geographical areas, especially when they sell on line.
“Once you have decided to start running a small business, you need to persevere, all companies, no matter what their size is, face difficulties, but if you are patient and do not quit, you can always keep on looking for new alternatives to make your business grow up”, added Salomón Juan Marcos Villarreal.