5 Things Every Entrepreneur Needs To Know Before Starting A Business | Balor
We recently sat down with Christina Tromp who is the founder of Balor, a financial consultancy service in Aruba. Balor’s mission is to help clients understand their behaviors, decisions, and emotions when it comes to dealing with money. Balor was founded in August 2019 and Christina has learned quite a few things since then.
Christina says that she knew from the beginning that she wanted to help people who have financial troubles or to help them improve the way they deal with their finance, but she never thought about being an entrepreneur. “As I was reaching my adulthood, I realised that this dream wouldn’t just fall on my lap and that helping people wouldn’t be as easy as 1, 2, 3”.In reality, there are a lot of factors that would need to be considered before starting a business. You have to have a plan and always be up to date with your product or service.
Here are 5 things that Christina thinks you should know before starting a business.
1. Fears are normal but don’t let them define you
You want someone to believe in you, to hold your hand and to guide you. You can feel scared and insecure but don’t let that stop you from working forward. “I thought about a lot of things before starting Balor. I asked myself, why not become a school teacher? Or establish my own business (such as a bar or lounge) where people can come together and have a relaxed time?”.
2. You don’t have to come from an entrepreneurial background to start a business
Christina says “I didn’t come from an entrepreneurial family. They would listen to me but would not know how to help me. I’m glad to say that nowadays we have coaches that can guide you when starting a business”. Christina is thankful to her coach, Sharleen Tromp, because she would not be where she is today if it wasn’t for her. Nowadays there are a lot of resources out there and professionals who can assist in coaching you and thanks to social media, we can learn even more from these professionals.
3. Believe in yourself
As an entrepreneur, you can feel alone in your day to day struggles, especially in the beginning when you first start your business. Don’t be afraid to reach out to other entrepreneurs or even hire a coach who can guide you on the right path towards the entrepreneurial mindset. Be the best version of yourself and believe in your capabilities. The product or service you are offering is your baby, it’s what makes your heartbeat and is what you dream about. Try to filter out what your greatest strengths are and what you can offer to your client.
4. Budgeting 101
Even though you have the capability of outsourcing, it’s important to know and understand your own financial expenses in your business, so make sure to create a financial plan for yourself as well. You never know what can happen business-wise and if one day you cannot afford to outsource anymore, it’s important to know your expenses.
5. Service is key!
Make sure that you always provide exceptional service to your clients. Money is important to all of us. You as the business owner need it to survive and the client worked really hard to earn it so they can spend it on your service or product. We need one another so it’s important to make sure your service is always top-notch in all aspects along with strong communication with your client as well.
