To launch a modest budget project ... here are these key keys

It is lack of innovation, not budget, that makes about 20% of companies last no more than five years.

In this report, the Spanish magazine "Fintas Personal" mentioned that, according to a study conducted by the World Bank under the title "Entrepreneurship in Latin America", only about 20% of companies can survive during the first five years of its establishment.

Many other studies have concluded that this is not caused by a lack of budget, but rather by lack of innovation.

And if you have an idea of ​​a particular business and you think it is innovative and you also have a guarantee that there is a market interested in what you have to offer, you should not think that a very high budget is needed to achieve this.

The magazine stated that money is important to start a business, but it is not everything, because these businesses require a strong will and a good foundation, as well as receiving advice on the resources that you will need to start your business, and in this report, the magazine highlighted some tips that may be useful.

Bet on business online
This type of business does not require a large investment to launch it, because the number of Internet users is increasing daily, this is regardless of the number of users of social networking sites that are witnessing a great development.

To start an online business, you only need a computer connected to the Internet and the creation of a web page and blog, in addition to receiving training in content marketing issues that may be very useful for communicating with your target audience.

Determine funding priorities
The magazine pointed to the necessity of prioritizing the investments you make, such as new computers, and the elements that will really bring you a financial return, or raw materials, and before thinking about financing, you should ask yourself whether this will serve a specific purpose, and if the answer is no , You should ignore the idea.

Using services to generate cash flow
If you are looking to start a business based on providing services, you will not need much cash flow to start the business, in this case, you only need to prepare your project and start selling your services.

It is important to remember that product-based companies require initial capital to start, but even if you do not have the funds to start your business on the basis of the product you want today, you do not need to despair.

The magazine also stressed the need to consider the services provided to generate cash flow and product financing, besides, additional cash flow can help you save faster to create a prototype for the product and start testing, but you need to make sure to write a timeline and create a budget to help you move forward with Your business idea.

Prototype design
If you find a person willing to invest in a product-based business, you must show him a model, because obtaining a prototype will allow you to test and solve potential problems before trying to commercialize your idea, a method that even major companies adopt.

On the other hand, creating a bad product may result in the loss of your customers, therefore, do your best to create a product that is being tested and be careful to master it when it comes out at the market.

Find crowdfunding sites
The magazine reported that there are crowdfunding sites like Kishstar and Andigog that are very popular with new technology companies, and that they can benefit from.

The issue is that entrepreneurs set financial goals and seek to fulfill their promises in exchange for different rewards, and if the financing goal is achieved, crowdfunding sites collect a percentage of the funds before distributing the rest, otherwise, shareholders retrieve cash promises.

Make customers pay you money in advance
Starting a business without cash flow is impossible, as late payments are one of the main causes of an industrial disaster, so make sure you have a strategy to receive money quickly from the start.

Ultimately, the secret is that you have a great idea contrary to what is on the market, so you have to do a study first of all to see if there are really people who need the product you intend to offer.

On the other hand, having the creativity to develop strategies such as making customers pay in advance or using social media to do "free advertising" so that you have enough money is essential to launching projects.