For a few years, we have heard a lot about entrepreneurship, it may be because the labor market is undergoing great transformations produced by new technologies that are drawing a new reality in our world.

New jobs appear, some of the existing ones have changed and have been transformed and others have disappeared, entrepreneuring is one more of the self-employment alternatives existing in this economic and social environment.

Let’s not forget that entrepreneurs are attributed qualities that differentiate them from other type of businesses, recently I read the statements of the president of one of the five largest banks in Spain, he says: “Entrepreneurship and the activity it develops is the soul of society and the engine to create the future ”.

If you have decided to choose the path of entrepreneurship you should know that you are entering an “ecosystem” in which survival is very low, only 8% of newly created companies exceed their fourth year of life, the rest do not manage to generate the sufficient income to maintain itself due to lack of financial resources, poor decisions, etc.

If your decision is firm, go ahead, you will live a very enriching and very demanding experience, but before that I want you to know some behaviors that the richest entrepreneurs on the planet practice in their personal economy and will allow you to face the challenge of entrepreneurship with more guarantees.

Expense control

Write down your expenses in detail and once you have identified them, start working on them, eliminate those that are harmful, keep the beneficial ones and include new ones that help you improve your current economic situation.

Debt reduction

Knowing how much money you owe, to whom you owe it and how much it will cost you to pay off your debt or debts, allows you to assess and decide the best way to reduce or settle your outstanding debts to stop the continuous bleeding that the payment of those interests and to return to have an important part of your income that, at the moment, you use to pay your debts.

Personal and / or family protection

Before starting your entrepreneurial career do not forget to do what is necessary so that you, or yours in the event that you have family responsibilities, do not suffer bankruptcy if your business project does not give the expected results.

Generate alternative income

There are various possibilities to obtain alternative income, each person is unique and therefore each one has to assess which of these possibilities is the most appropriate.

Taking control of your economy before starting your business project is an experience that will be very useful for you to face greater responsibilities, such as devising, creating and developing a business project.

Having information and knowing how to assess it properly is very important, so having the experience of an independent professional to help you make decisions, resolve doubts or clarify any issue is a very good idea.

At SEL-DEK we work helping other people to improve their financial situation, to live more peacefully, to give their children the best possible education, in short, to live a little better every day.

At SEL-DEK we are independent professionals and we work every day with one objective: to improve the economic situation of people who ask us for help.

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