With 42 million entrepreneurs, according to the Global Entrepreneurship Monitor (GEM), Brazil stands out as one of the countries with the most people involved in the business world. Entrepreneurship ranks third on the list of Brazilians’ biggest desires, behind only traveling around the country and acquiring a home. However, turning this dream into reality is not a simple task. The challenges range from high taxes and bureaucracy to obtaining credit, creating innovative proposals, and developing management skills and professional training.
To support those starting their journey or seeking to give a new boost to their businesses, CEOs and cofounders of leading companies and startups in their segments share valuable recommendations. Check out the tips and learn from those who have already traveled this path:
1. Validate your idea quickly
Diego Daminelli, founder and CEO of Branddi, a company specializing in combatting unfair competition in the digital environment, lists his two pieces of advice, indicating that testing your idea as quickly as possible in the real market is essential to collect feedback. “Don’t wait for perfection. Learn from the first customers and adjust the product based on real needs.”
2. Be resilient
He also warns that entrepreneurship involves constant challenges, and the ability to adapt is a strategy that needs to be considered. “Develop the ability to adapt to obstacles and failures,” he states.
Guilherme Maia, Co-Founder of EmCash, a fintech as a service specialized in corporate credit, also stresses the importance of resilience for those who are entrepreneurial. ‘Do not give up in the face of difficulties. Adopt a positive and persistent mindset in daily life, adjusting strategies whenever necessary,’ he comments.
3. Know your market well
Maia also highlights the importance of market knowledge as a tip. ‘It is essential to understand who your competitors are, your target audience, and sector trends. Conducting research and being attentive to market movements allows the entrepreneur to anticipate changes and adjust their strategy. Incorporate the practice of market analysis regularly to make informed decisions,’ he advises.
Zhang Shuzong, CEO of Finvity, a platform offering scalable and tailored solutions for financial, asset, and succession planning, also emphasizes knowledge about the target audience as an essential pillar. ‘Conducting research to identify needs and desires, whether through social media and/or direct feedback, will help personalize offers and create a stronger connection with your customers,’ states the executive.
4. Define clear, specific, and achievable goals
According to Zhang, ‘having well-defined objectives, within the reality of each business, helps to direct efforts and measure progress.’
Setting goals at different timeframes can also make a big difference for those starting their business. Juliano Dias, founder and CEO of Meetz, a startup that offers end-to-end prospecting and sales engagement solutions for B2B businesses, explains that “knowing where you want to go is complex to do safely, but do not stop thinking about it and put together a simple and adjustable plan. In parallel, develop short-term action plans to achieve goals quickly, keeping in mind that each step taken should lead you towards the long-term goal. This balance allows you to focus on the future while effectively managing daily operations. Remember: revenue is ego, but cash is king.”
5. Start Selling
The Meetz executive also points out that waiting for perfection right at the beginning cannot be a deciding factor for not immediately starting your sales. “Do not wait for everything to be perfect before launching your product or service. Start selling as soon as possible and understand that this serves to validate your idea in the real market, as well as giving you insights on how the customer actually wants to receive what they purchased, and how you create value with it. With each sales and delivery cycle, learn and adjust your business to grow continuously. As I always say: if it was born ready, it was born too late,” recommends Dias.
6. Do not be afraid to make mistakes
Gustavo Costa, founder and CEO of LGL Case, a marketing and experiential events agency, also emphasizes the fear of making mistakes as something that should be set aside. “Understanding that error is part of the growth process is essential for any entrepreneur. The difference lies in your attitude towards the mistake. You can either sit and wait for favorable winds, or roll up your sleeves and swiftly correct the sails of your ship. Working hard has always been my life motto. Working hard means delivering more, exceeding expectations, and fostering amazing experiences for our clients. The world is full of 10 out of 10 people who settle for a 6. To entrepreneurs, be the example of what you expect from your team.”.
7. Continuous learning
Costa also highlights the importance of having a team better than you that is embarking on entrepreneurship. “Hire people who are better than you. No matter how effective your management is, there will always be experts who can contribute different skills and perspectives to your business. Find these talents. Motivate them. Prepare them for days of joy, but also for battle. Make your company fit for continuous learning processes. Foster innovation, allow for new ideas. The world has never been so fast-paced. At the very least, your company must keep up with a similar rhythm.”.
8. The island concept
Eduardo Abichequer, founder and CEO of Yuool, a startup of comfortable and sustainable sneakers, affirms that entrepreneurship is one of the most challenging activities that one can undertake, “especially in a country that often imposes more obstacles than offers support to entrepreneurs”. In this context, the executive firmly believes in the concept of the “island”: “when committing to an endeavor, one must ‘burn the boats,’ that is, eliminate any possibility of retreat, ensuring that the only alternative is success. This mindset has been crucial throughout our journey, as despite the recurring challenges and situations that sometimes seem impossible, the determination to find a solution prevails”.
9. The no, I already have
Abichequer also emphasizes that “thinking big” is a good path for those starting out. “I start from the principle that ‘no’ is already the guaranteed answer if there is no attempt. Therefore, I always seek to explore paths, no matter how difficult they may be, where all parties involved can benefit from the task’s success. I believe that this approach not only increases the chances of success but also fosters partnerships and opportunities that might otherwise go unnoticed”.
10. Focus on the product
Fábio Napchan, founder and CEO of Quality24, a healthtech that offers integrated hospital management support solutions, believes in two essential points for success, the first of which is to focus on the product. “My first tip is to focus, from the beginning, on the customer. It is very common, at the beginning of the journey, for the entrepreneur to only look at the product, either due to lack of commercial experience or passion for the idea — which is very important, but often can “dazzle” the entrepreneur. It is crucial to prioritize rapid validation of your product or service with real customers, even in a simplified version — this saves valuable resources and allows crucial adjustments based on genuine feedback. Customer focus should be a recurring exercise – which means it should be part of an ongoing process within the company. For this, it is essential to create a weekly, biweekly, or monthly routine (depending on the company’s resources) to conduct interviews, surveys, and touchpoints with customers, collecting feedback to help refine the product or service”.
11. Mentors are essential
As for the second, it is the support of more experienced people in the market. “The second tip is to cultivate a network of mentors and other entrepreneurs in your sector; this networking not only opens doors to great opportunities but also offers valuable learning through experiences shared by those who have faced similar challenges. For this, it is important to participate in networking events such as fairs, symposiums, podcasts, and any other means of meeting and discussing relevant to your sector, as well as always being open to helping other entrepreneurs facing similar challenges to yours”, says Napchan.
The CEO and founder of Monest, Thiago Oliveira, also reinforces this tip, emphasizing that finding authorities in your niche is a great way to learn from the best. “They have definitely gone through many challenges that you will still face and can help you in these initial steps that are the most difficult. Probably the sector you are in has a community with various professionals where you can find a lot of support,” highlights Oliveira.
12. Decide who your partners are
Still in this mentorship line, Alex Tabor, founder and CEO of Tuna, a fintech that offers multiple combinations of payment providers and anti-fraud, customizing their services according to the needs of each client, indicates that the support of the team in product development is also relevant for business success. “For those starting to venture, there are two main objectives: deciding which products to create, and with whom to do it. I prefer to decide with whom first, as with a strong team, the likelihood of success increases significantly, and once the team is formed, you can define the products according to the team’s ability to deliver this product better than other teams, which would have different characteristics. Ideally, the team should consist of two or three smart and dedicated people, who have great cultural synergy with you, as well as strengths that complement yours. For example, one may be very strong in IT, and the other in sales and marketing”.
13. When creating the product, think about possible errors
He also reinforces that “once you have an idea of a product that may generate value, it is more agile to think about the reasons that may not work in practice and try to show, with tests, what would not work for certain reasons. For example, if you want to sell something online, your product may not be something people are looking for online, which would make it difficult to attract customers. In this case, you can buy Google ads for keywords related to the product. But if you see a good search volume, this reason for not working has already been ruled out. Then move on to the next reason and repeat the exercise. If you test all hypotheses with real tests and no result shows that it will not work, you already have a minimum viable product online and working”, says Tabor.
14. Make technology an ally of your business
Fernanda Clarkson, Co-Founder and CMO of SuperFrete, a platform that drives the e-commerce ecosystem by connecting entrepreneurs through data and technology to the best freight options, points to technology as an ally. “Invest in platforms that centralize your operations, from financial management to inventory control and e-commerce logistics. These tools help save time, reduce costs, and increase efficiency, freeing you to focus on growth strategies.”
15. Diversify your freight options
Additionally, for those in e-commerce, Clarkson recommends “offering various freight and delivery options, such as express and economy shipping, is essential to meet different consumer profiles. This allows greater flexibility, improves the customer experience, and can increase conversion rates on your site.”
16. Regional Development
Ricardo Ferreira, CEO of the Rethink, a technology, design, and strategy consultancy focused on the development of digital services and products, emphasizes that for those outside the Rio-São Paulo axis, it is important to value and invest in the local ecosystem. “The potential for innovation can arise anywhere, regardless of location. The support of the community we are a part of strengthens us and provides new opportunities for expansion, especially in less explored markets. Today, I advise companies to invest in local connections because growth can come from unexpected places.”
17. Constantly seek knowledge
Ferreira also recommends constantly seeking new knowledge. “In my opinion, the main skill that a professional should seek, regardless of the area of expertise, is continuous learning. Through it, it is possible to adapt to new technologies, processes, and work methods, as well as develop the ability to understand others and relate well with peers, leaders, and partners.”
18. Take care of your physical and mental health
A successful business cannot exist if its leaders do not have the health to invest time and energy in dedicating themselves to the company. That is why Henrique Flôres, co-founder of Contraktor, recommends that new entrepreneurs exercise regularly and maintain a healthy diet. “Include a mindfulness routine in your day, sleep 8 hours a day. Help others, as generosity improves mood, generates more energy, and increases confidence. Take good care of your physical and mental health, as they will be fundamental for you to withstand the countless obstacles that arise in a long business construction marathon.”
19. Your venture demands your time
Alongside this, Rafael Teixeira, CEO of Clínica da Cidade, warns that “entrepreneurship does not mean working less, quite the opposite. Your responsibilities and workload increase significantly. Therefore, it is essential to have a clear and strong purpose in what you invest time and money.”
