With 42 million entrepreneurs, according to theGlobal Entrepreneurship Monitor (GEMBrazil 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 within the country and purchasing a home. However, turning this dream into reality is not an easy task. The challenges range from high tax burden 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 co-founders of leading companies and startups in their segments share valuable recommendations. Check out the tips and learn from those who have already walked this path
1. Validate your idea quickly
Diego Daminelli, founder and CEO of Branddi, a company specializing in combating unfair competition in the digital environment, lists his 2 pieces of advice, indicating that testing your idea as quickly as possible in the real market is essential to gather 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 must be considered. "Develop the ability to adapt to obstacles and failures," he/she/they states.
Guilherme Maia, Co-Founder of EmCash,fintech as a servicespecialized in corporate credit, also emphasizes the importance of resilience for entrepreneurs. "Don't give up in the face of difficulties. Adopt a positive and persistent mindset daily, adjusting strategies whenever necessary," he/she/they comments.
3. Know your market well
Maia still highlights market knowledge as a tip. It is essential to understand who your competitors are, your target audience, and industry trends. Conducting research and staying attentive to market movements allows the entrepreneur to anticipate changes and adjust their strategy. Incorporate regular market analysis into your practice to make informed decisions.
Zhang Shuzong, CEO of Finvity, a platform that offers scalable and customized solutions for financial, wealth, 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," says the executive.
4. Set clear, specific and achievable goals
For Zhang, "having defined goals within the reality of each business helps to direct efforts and measure progress."
And setting goals in 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 something complex to do safely, but don't stop thinking about it and creating a simple and adjustable plan. At the same time, develop short-term action plans to achieve goals quickly, keeping in mind that each step taken should move you toward the long-term objective. This balance allows you to stay focused on the future while effectively managing daily operations. Don't forget: revenue is ego, but cash flow is king."
5. Start Selling
The Meetz executive also points out that expecting perfection right from the start cannot be a determining factor for not starting your sales immediately. "Don't wait for everything to be perfect before launching your product or service. Start sales as soon as possible and understand that this is to validate your idea in the real market, as well as to gain insights into how the customer truly wants to receive what they bought and how you generate value from 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 late," recommends Dias.
6. Don't be afraid to make mistakes
Gustavo Costa, founder and CEO of LGL Case, a marketing and event experience agency, also highlights the fear of making mistakes as something that should be set aside. Understanding that mistakes are part of the growth process is essential for any entrepreneur. The difference lies in your attitude towards errors. You can sit and wait for favorable winds, or roll up your sleeves and quickly adjust the sails of your ship. Regarding hard work, that has always been my life motto. Working hard means delivering more, exceeding expectations, and fostering incredible experiences for our clients. The world is full of ten-out-of-ten people, but they are content with a six. To entrepreneurs, be the example of what you expect from your team members.
7. Continuous learning
Costa also emphasizes the importance of having a team better than you who is undertaking. Hire people better than you. No matter how effective your management is, there will always be specialists who can add different expertise and perspectives to your business. Find these talents. Motivate them. Prepare them for days of joy, but also for days of war. Make your company capable of continuous learning processes. Foster innovation, allow yourself to embrace new ideas. The world has never been so fast. Your company needs, at least, to keep pace accordingly.
8. The concept of the island
Eduardo Abichequer, founder and CEO of Yuool, a startup of comfortable and sustainable sneakers, states that entrepreneurship is one of the most challenging activities one can undertake, "especially in a country that often imposes more obstacles than support on 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 option is success." This mindset has been crucial throughout our journey, because, despite recurring challenges and situations that sometimes seem impossible, the determination to find a solution prevails.
9. No, I already have it
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, where all parties involved can benefit from the success of the task. 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 focusing on the product. My first tip is to focus, from the beginning, on the customer. It is very common, at the start of the journey, for the entrepreneur to look only at the product, either due to commercial inexperience or passion for the idea — which is very important, but can often "blind" the entrepreneur. It is essential to prioritize rapid validation of your product or service with real customers, even in a simplified version — this saves valuable resources and allows for crucial adjustments based on genuine feedback. The focus on the customer should be a recurring exercise – which means it should be part of a continuous 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, andtouchpointswith clients, collecting feedback that helps refine the product or service.
11. Mentors are essential
The second 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 lessons through the shared experiences of those who have faced similar challenges. For this, it is important to participate in events ofnetworkingsuch as fairs, symposiums,podcastsand any other means of meeting and discussing related to your sector, in addition to always being open to helping other entrepreneurs who are facing similar challenges to yours”, says Napchan.
The CEO and founder of Monest, Thiago Oliveira, also emphasizes this tip, highlighting that finding the authorities in your niche is a great way to learn from the best. "Surely they have already faced various challenges that you will still encounter and can assist you in these first steps, which are the most difficult. Probably the sector you are in has a community with many professionals where you can find a lot of support," highlights Oliveira.
12. Decide who your partners are
Still in this line of mentors, Alex Tabor, founder and CEO of Tuna, a fintech that offers multiple combinations of payment providers and anti-fraud solutions, customizing their services according to each client's needs, indicates that the support from the product development team is also relevant for the success of the business. For those starting to venture into entrepreneurship, there are two main objectives: deciding which products to create and with whom to do it. I prefer to decide with whom first, because with a strong team, the likelihood of achieving success increases significantly, and with the team formed, you can define the products according to the team's capacity to deliver these products better than other teams, which would have different characteristics. Ideally, the team should be composed of two or three intelligent and dedicated people who have great cultural synergy with you, as well as strengths that complement yours. For example, one might be very strong in IT, and the other in sales and marketing.
13. When creating the product, think about possible errors
He also emphasizes that “once you have an idea for a product that might generate value, it’s easier to think about the reasons why it might not work in practice and try to show, through tests, what wouldn’t work for certain reasons. For example, if you want to sell something online, your product might not be something people search for online, which would make it difficult to attract customers. In this case, you can buy ads on Google for words related to the product. However, if you see that it has a good volume of searches, that reason why it might not work has already been ruled out. Then, move on to the next reason and repeat the exercise. If you test all the hypotheses with real tests and no results show that it won’t work, you already have a minimum viable product up and running,” Tabor points out.
14. Make technology an ally of your business
Fernanda Clarkson, Co-founder and CMO of SuperFrete, a platform that boosts the e-commerce ecosystem by connecting entrepreneurs through data and technology to the best freight services, highlights technology as an ally. Invest in platforms that centralize your operations, from financial management to inventory control and logistics for e-commerce. These tools help save time, reduce costs, and increase efficiency, freeing you to focus on growth strategies.
15. Diversify your shipping options
Additionally, for those who work in e-commerce, Clarkson recommends “offering a variety of shipping and delivery options, such as express and economy shipping, is essential to serve different consumer profiles. This allows for greater flexibility, improves the customer experience and can increase conversion rates on your website.”
16. Regional development
Ricardo Ferreira, CEO ofRethinktechnology consulting, design, and strategy 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 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 the least expected places.
17. Constantly seek knowledge
Ferreira still recommends the constant pursuit of new learnings. In my opinion, the main skill a professional should seek, regardless of their field, is continuous learning. Through it, one can adapt to new technologies, processes, and work methods, as well as develop the ability to understand others and build good relationships 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 that allows for the investment of time and energy in dedication to the company. Therefore, Henrique Flôres, co-founder of Contraktor, recommends that new entrepreneurs exercise regularly and maintain a healthy diet. "Include a routine of"mindfulnessOn your day, sleep 8 hours a day. Help others, as generosity improves mood, increases motivation, and boosts confidence. Take good care of your physical and mental health; they will be essential for you to withstand the countless obstacles encountered in a long marathon of building a business.
19. Your business demands your time
In this regard, Rafael Teixeira, CEO of Clínica da Cidade, warns that “being an entrepreneur 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 in.”
