Doing business out of necessity, and not so much out of opportunity, is one of the decisions many Spaniards make during an economic crisis. Between 2008 and 2014, the harshest years of the previous economic crisis, entrepreneurship out of necessity grew by 14% in Spain, according to the GEM report from the Spanish Entrepreneurship Observatory.
The latest data published on unemployment in Spain, which stood at 16.2% in January this year with 755,000 ERTES still active, could reproduce the same situation as the previous crisis. In 2019, a year before the start of the pandemic, and according to the GEM report from the Entrepreneurship Observatory, the lack of manpower pushed more than 40% of new entrepreneurs to create their own business.
“The COVID crisis will make many people, either because they had already raised it or because of the need to reinvent themselves after losing their jobs, to decide to go into a business. This situation was well received during the economic crisis of 2008 and it is starting to stand out now, ”said Carlos Delgado, CEO of Level UP business school.
Tips for the success of new entrepreneurs
But on what does the success of the business project depend? Delgado assures that the future of a project depends, to a large extent, on who carries it out and how it is executed. Business success starts with a good idea, but who drives the project and how it does it is key.
The future of the company must add, in addition, other aspects such as flexibility. “You have to start from an idea and be clear that it changes and evolves in a short period of time”, testifies the CEO of Level Up. The expert also recommends devoting time to building and communicating the brand within a very well defined Sales framework. “We need to know our product, but also our potential buyers,” explains Delgado. Connecting emotionally with our potential customers and having the credit for explaining the product’s benefits in a clear and concise manner “will bring us closer to our sales targets,” says Delgado.
Another of the fundamentals that the pandemic has reaffirmed is the digital strategy, both for communication and for sales, Delgado said. “Currently, we cannot understand a business without a presence in the digital environment. You have to understand and master this environment, ”recalls the founder and CEO of Level UP.
Train more than 30,000 entrepreneurs since 2012
Level UP has trained more than 30,000 entrepreneurs and freelancers since its creation in 2012. After the application of the state of alert, the business school continued its training in digital format through #EnCasaReinventoMiNegocio, live sessions online for entrepreneurs in fifteen sectors and through capsules on its YouTube channel which have been followed by 130,000 people.
On February 18 and 19, the business school will celebrate a new edition of its “Diamond in the Rough” course in digital format, to which more than 1,000 people have already registered. The training is intended for entrepreneurs, freelancers and businessmen who wish to improve their results.