An idea that will revolutionize the market is not necessary. Reinvent traditional businesses by incorporating the internet or taking advantage of the pull of the environment.
Define your business, what you are going to offer and what your market is going to be. Only by knowing yourself will you be able to advance in the following steps, which will help you in the start-up and will be definitive in the consolidation phase of the company. Analyze the market and how you want to position yourself, what your field of action will be and, above all, be very clear who your customers will be, how you will get their attention and how you want to reach them.
Make a budget and make sure you have the necessary own funds for the launch. Getting a bank loan is complicated; and the subsidy, whatever the type, is only an economic incentive. It cannot be considered a basic source of financing: it rarely covers the project one hundred per cent and some arrive when the business is already underway. But don’t discard them. They are an interesting capital injection. Prioritize: go first to local agencies. Although smaller, applicants are less.
It is the best guarantee for the survival of your business. Without good financial health and real planning in the medium term, the disappearance of the company is more than likely. The rental of the premises, the payment of invoices to suppliers, the salary of your staff and collaborators are some items that must be covered at the end of the month.
Choose a Partner
Family or best friend does not have to be the best partner. Opt for the professional who understands the company and who contributes the most. Some entrepreneurs point to financial capacity and business knowledge as the best attributes. Others affirm that the best partner is the one that does not have, the one that is not necessary. Analyze the advantages and disadvantages of society and do not get carried away by friendship or economic factors. Respond honestly to this question: Is it essential to achieve business results?
Surround yourself with the best professionals and convey your enthusiasm, especially at the beginning. Remember that by agreeing to work with you they have opted for you and your idea, something new with a secure but uncertain future. Look for the best to help you in the launch and make a team: a reduced template is the best option to prove that you are one more and together you make a great team.
To make a good campaign is not necessary for a large investment. Let yourself be seen whenever you can, surprise your customers by engaging them in actions that make them live experiences and build effective databases
The salary you assign yourself at the beginning should be an example, both for employees and business angels or other investors interested in your firm. Although the beginnings are hard and tempt you to give up a salary, put on one. Otherwise, you will never do it.