Can you start a business being an employee in another company?

Economic growth coupled with a greater supply of professionals has allowed more and more people to develop individual business models in the country. In this opportunity, we will explain the requirements that must be followed to start a company in Colombia, and how to undertake being an employee of another organization.

How can you start a business being an employee in another company?

Most professionals, after graduating, the first thing they think about is entering the labor market to access a job that can cover their respective expenses. It is clear that the number of employees working in an organization is much greater than that of entrepreneurs or business owners.

However, there are also individuals who, despite working in a company, also plan to develop individual business models, so as not to depend so much on bosses and become independent.

Many professionals, despite having a desire to undertake, may present obstacles that prevent them from starting a business; be it a shortage of time, lack of market knowledge or insufficient capital. However, it can be undertaken even if you are experiencing these adversities.

Steps to start a business being an employee in another company

We will show you a series of steps that you can follow to take even if you find yourself working in another organization: These are:

1. Do a market study

The first thing that you would have to carry out is a market research, in which you will try to make visible any problem that a population presents; in order to create a good or service that can satisfy that need. You have to analyze the internal and external variables of that geographic space to evaluate what could be the strategies that you can use to reduce the margin of error and be successful in the attempt.

2. Analyze the competition

You need to evaluate those companies that could become potential competitors of your brand. Thus, you can use different strategies that differentiate you from any business, displacing possible adversaries.

Similarly, you can take advantage of the fact that you are working in a company to collect all the information regarding it that may be useful to you. For example:

• How are account statements handled?
• How are budgets prepared?
• What steps did the company have to take to get to where it is?
• What is the target audience for the goods or services you offer?

It does not matter if the business model you want to develop is not related to your work in that company; because you can use all that information to get an idea about where you could start to set up a company in Colombia.

3. Seek advice

If you do not have much knowledge related to the business area, you can consult with expert professionals who can explain what risks you have to assume to formalize the business, how the market behaves in the city where you intend to establish the business, how much is the capital that is deserved to run it, among many other variables.

4. Time evaluation

Permanent jobs consume a significant amount of time, so it can be complex to invest time in your business project. In this case, you have to take advantage of those days that you are free (weekends, for example) to allocate, even a few hours of your time in your entrepreneurship model.

On the other hand, you must analyze how long you plan to be employed. Many entrepreneurs work for a short time while developing their respective businesses. After the latter have materialized, they leave their respective jobs to dedicate themselves exclusively to their companies.

5. Take advantage of digital media

Thanks to the digital age, it is much easier to undertake now than before. Especially since many employees have been able to develop business models based on E-Commerce where they sell a large number of products in virtual stores.

At the same time, there are other people who monetize articles on blogs and web pages, which allows them to enjoy an additional income in addition to what they receive in their respective jobs.

However, keep in mind that at the beginning you will not earn much. Large companies began generating minimal income, but with hard work and effort they managed to position themselves in the market. You must be patient in obtaining the results.

These are the types of companies that can be established in Colombia.

As you can see, it is possible to undertake and be employed at the same time, it is all a matter of knowing how to organize and plan your business ideas. If you follow all these steps, you can substantially reduce the margin of error in the process to set up a company in Colombia.