Introduction
Starting your own business is not only exciting, but there is also a lot involved. It's important to prepare well before you officially launch so that all the prerequisites are in place. From defining your offer to setting up your business administration, taking these 16 steps will get your business off to a flying start. Also read our article on "Starting your own business ideas" for more inspiration.
Step 1: Research what the market is for and what suits you
Starting your own business naturally begins with developing a product or service. It is very important to first research what the market needs. You can have such a great idea, if no one is waiting for it, it has no future. Therefore, first do some good market research: into your target market, the size of your target market, the needs of your target market and the ways in which your company can stand out from the competition.
Are you a true entrepreneur?
Another important starting point is yourself. Do you have finland mobile numbers list genuine passion for the service or product you offer? Are you suited to entrepreneurship and the uncertainty that comes with it? Entrepreneurship is hard work, so always ask yourself: is this what I want to be doing more than full-time? If you want to gain more insight into yourself and your qualities, test your entrepreneurial skills.
Step 2: Create a financial plan
This step is not equally important for every business. It depends on the type of business you are starting. Copywriters or consultants can do their work just fine with just a laptop and phone. That requires little investment. If you are going to develop a physical product yourself, then it is probably necessary to find investors and start-up capital. Make a good financial plan that reflects how you plan to finance your business (for example, through private equity financing).
Step 3: Choose the right legal form
Choosing the right legal form for your business is very important. Will you go for a sole proprietorship or a limited liability company? Both options have advantages and disadvantages and depend on the type of business you want to start. If you make less than 150,000 euros in profit per year, a sole proprietorship is often the most advantageous option. But issues such as liability and the presence of partners in the new business are also important considerations. Therefore, list the pros and cons, think about the future and make the best choice for your business.