6 Things You Should Know Before Setting Up Your Own Business

6 Things You Should Know Before Setting Up Your Own Business

Do you consider yourself an entrepreneurial woman? Are you thinking of becoming independent and starting your own business?

Maybe you are very excited and you are dreaming of the freedom of being your own boss, the flexibility of schedules, and being able to have more time for yourself and your family.

Or with the economic freedom that you think you are going to get.

I have received many messages from women like you who have an idea in mind and would like to put it into practice, or who do not really know what they want to do but are clear that they want to have their own business and work on their own; or even that they are clear about both things but do not know where to start.

But I also receive messages from women with economic problems who believe that starting their own businesses will solve everything. Before taking that step, I want you to be clear about a few things (not all good, I anticipate):

Before Setting Up Your Own Business You Should Know:

That A Business Is Not A Magic Pill

You probably already know this, but I can confirm it, starting a business is not a bed of roses. A very high percentage of new companies go bankrupt in the first 5 years. It is not easy and I want you to keep it in mind, it is not a magic pill to get out of your current state.

So think carefully about your motivation, the reason why you want to set up your business. If it is because you want quick money or because you are bored with your current job and don’t know what to do, it may not be the best option for you. (If you are in doubt, I recommend the book “The Black Book of the Entrepreneur” by Fernando Trias de Bes).

That You Will Not Generate Benefits Immediately

You have to be aware that it will take between 6 months and several years to have benefits (depending on the type of business and how you move), therefore, it is important that you have savings or financial support to overcome this phase.

Because opening a business when you do not have enough financial resources will be very stressful and will not let you think clearly or invest in your business (something essential).

So please don’t leave everything overnight, combine it with your work if you can, start saving, and find out ways to finance or help available.

That You Will Have To Live With Uncertainty (And Enjoy)

One thing in common between science and your own business is uncertainty. You don’t know if an experiment is going to come out or not if they’re going to give you the scholarship or project, where you’re going to go when the funding runs out.

The same thing happens with your business, you don’t know when you will start generating profits, where your business will be in two years, if you will find all the customers you want, if they will like your product, etc.

An important characteristic of an entrepreneur is that he enjoys uncertainty. And you? If you need great stability to be happy (fixed salary at the end of the month, everything controlled) it may not be for you.

That You Have To Be Strong And Persevering

Not only are the beginnings hard, but you will receive criticism and uninformed opinions and you will also make mistakes. If you give up at the first change, at the first setback, you will not get very far. Ignore all that, be strong and persevering.

Follow your convictions and goals and look for people who support you and know what you are going through.

Surround yourself with other entrepreneurs, at events, through social networks, and at conferences. Learn from mistakes and consider them one more step towards success.

If you’re clear that this is what you want, do whatever it takes to pick yourself up when you’re down.

What Do You Have To Learn And Fast?

One of the most gratifying things (for me) about having your own business is that you need to be constantly in training, learning, and adapting to changes and to what your customers want.

This allows you to develop as a person and learn a lot.

Try to keep up to date with what is happening in your business, what is failing, what can be improved, what your customers want, etc. Learn from the best, it makes no sense to reinvent the wheel but to learn from those who are where you want to be.

Which Is Very Rewarding!

I don’t want you to keep the negative.

In fact, if so far everything has seemed negative, think twice before taking the plunge. For me, leaving my scientific career and starting my own business, going from a fixed salary per month (at least while the scholarship lasted) to having to fetch the beans myself was a great challenge and a radical change in mentality.

It is not the same to be an employee (or an intern) as an entrepreneur.

It is very gratifying to be able to create and run your own business.

Having to be continually learning and adapting to changes; having to implement new techniques, overcoming insecurity and fear, and be able to control what you do, when you do it, and how you do it.


In short, while I don’t mean to discourage you, I want you to be realistic and know what you’re getting yourself into; that you be clear about the reason why you are going to do it, your main reason.

That you make sure that you have (or that you can get) the financial resources you need, that you don’t waste time trying to do everything yourself and without help, and that you surround yourself with people who have already gone through it and can advise you.

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