How to be a successful entrepreneur in Spain?

Citizens from all corners of the globe are embracing the  entrepreneurial spirit. And the reality is that establishing a business and  be your own boss has never been easier. In that sense, Spain is an  ideal location to start your own project. As a result, many foreigners  begin their new lives in the nation in order to pursue their new business  objectives. However, vast majority have no idea where to begin. The  most difficult question is: What type of business should I start? What are  the most promising business and investment prospects? 

Before starting with the business, or any venture of your own, it is  necessary to take a self-reality check. What all do you need for  starting up a business? Capital/Funds? Office space? Legal  documentation? Employees? Idea? All of it? Well, the most  important of it all is you need a thorough understanding of the  nuances of business, the industry, the sector, economic bindings,  strategies, understanding the flow of information, building business  processes, devising suitable feasibilities for the penetration and  tapping markets, etc. 

As they say Entrepreneurship drive and passion is in-built and intrinsic  but skills can be taught and honed for a successful startup and a  prosperous and long and lustrous innings! 

And these skills are best learnt in early stage of your career building.  Say you have a high-school Entrepreneurial dream to pursue then I  say invest into a degree that teaches you right out of the books what  you need to keep your dream alive. Earn and learn a degree of BA  (Hons.) in Business Management & Entrepreneurship with first two years  of fundamental learning at C3S Business School, Barcelona and for  the final year at University of Sunderland, UK.  

It’s important to be a smart businessman as much as a good  businessman. Rather than to shell out more funds for doing a degree  course in UK with a humongous cost of living expense for 3 years, it is  better to get the same degree by doing foundation years in  Barcelona at C3S Business School, which has one of the most  competitive fee structures in the league of premium business schools,  and for the final year top-up go to Sunderland and get the UK degree  at almost 1/3rd of actual cost of being in UK.

Now let’s discuss the vital elements to keep in mind before you think  of starting your business in Spain. 

Keeping these three concepts in mind will make running your own  project a breeze:

Concentrate on a certain specialty: You can’t afford to have  everyone as a customer, regardless of the industry in which you’ll be  starting your business. The objective is to specialize and target a small,  homogenous set of clients. If you were to start a restaurant, don’t open  one that serves Mediterranean cuisine. Open a Mediterranean  restaurant that caters to vegans.

Add a technical and creative element to the mix: And this is really  significant if you want to obtain Spanish residence while establishing your business. Not all business concepts will succeed in this situation.  Your company plan should be based on something that requires a lot  of technology and innovation. Online businesses are frequently a  good match for this. 

Avoid expenses by acting as a mediator: When you look at the most  successful businesses today, you’ll see that many of them have a  business strategy that doesn’t entail a lot of internal expenditures.  Airbnb, for example, has no maintenance expenditures while being in  the housing rental market. That’s because it’s a mediator, and the  buyer/seller is responsible for such charges. The same is true for sites  like Skyscanner, Booking, and eBay.

If you found this article useful then stay tuned for the Part 2 of  it –

5 Easy ideas to start up a Business in Spain

Get in contact with us on today for a career  plan roadmap, let us know your dream and we will help you  achieve it! 

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Pooja Shah is more than a decade old in the education industry with roles ranging from Professor at a B-School to Foreign language facilitator in China to Content Strategist for an education giant. She is passionate about educating and inspiring the world with generic and specific topics relating to her industry with authentic and accurate information. She heads the Digital Content and Engagement department at C3S Business School.

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