How to create a startup?

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Startups represent a good opportunity to try out an individual and new business idea. Especially young entrepreneurs dare to take the step and create their own existence with a startup. Nevertheless, many ask themselves the question: how do I found a successful startup?? With just a few tips and steps, you can build your startup and become a successful entrepreneur.

The right idea

You want to start your own business and make it as a young entrepreneur. For a startup, as for a normal company, you need one thing: the right business idea.

While some startups are "born" with the business idea, most businesses in this principle are based on private interest or experience in the respective industry.

For example, if you are passionate about traveling, your idea for your startup may come from the travel sector. If you eat healthy and varied, on the other hand, the food sector may appeal to you.

While the idea for your own startup may seem right and promising at first, you need to check whether it is actually suitable for a business.

Some ideas seem promising at the beginning and turn out to be a flop in the end. For this reason, you should follow these four steps before starting your fledgling business:

  • Review competitors and market
  • Carry out a test run
  • Make a rough calculation
  • Consult advisor and involve if necessary

The steps necessary for a startup

If you find a perfect business idea for you, you should first check if the idea already exists in germany or elsewhere. Competitors make your venture much more difficult. The bigger the market is and the more often your idea is distributed in the same or similar way, the more difficult it will be for you to run a successful and profitable business.

When reviewing the market and competitors, check what makes your idea better than existing market players and whether it is simpler, higher quality or cheaper than other products. The positioning as well as the unique selling proposition on the market is crucial for a successful startup.

A "dummy" is a quick and easy way to test your business idea in the next step. With a simple, free of charge or. With a low-cost website and a targeted online marketing campaign, you can easily find out if your idea works and is successful. Friends and acquaintances can also act as "test subjects, although they are not as neutral as strangers.

If your idea works, you have to deal with the calculation afterwards. Only if someone is willing to pay for your idea, you can run a business.

With a first rough calculation, you can easily see what start-up capital you need and how much potential income you can generate from sales or your services. The projection of potential income is usually difficult.

Still, don't forget this important task so your startup doesn't go bankrupt right after it's launched.

If you need help launching your startup, you should contact professional startup consultants. They will help you to develop your idea and show you how a business plan and business models look like, how to carry out the financing and how bank talks work.

At the initial meeting, which is usually non-binding, you can not only present your startup idea, but also receive neutral feedback at the same time. We are happy to help with business registration.Com you also determine whether you will be successful with your business idea.

Founding and financing a startup

If you want to found a startup, you need appropriate financial resources or support. Many people who start up a business do not have any capital and therefore ask for financial support. With the right business idea and a business plan, you will be able to raise the necessary funds. First and foremost you can

  • Bootstrapping
  • Startup loans
  • Debt capital from investors
  • Startup funding

Apply or operate. Which financing is ultimately the best for you, will be shown by a close examination.

Bootstrapping means for you that you completely renounce external financing and build up your company by your own efforts. However, in order to implement this financing option, you need to generate revenues and a positive cash flow as quickly as possible. Revenue will fund your startup's continued growth.

If you are unable to finance your startup on your own, you can apply for startup loans from the kfw bank in germany, such as the kfw-startgeld. Since kfw bank does not have its own branches, financing is handled by your principal bank.

Only with a very good business plan you can usually convince the bank and get the financing help. We from business registration.Com will gladly help you to create a business plan. With our checklist here you can easily work out your business idea and discuss it with us afterwards.

If you need a larger sum than the one from kfw-bank to found your start up, you should look for investors. Especially startups that want to go international often need the help of investors. In many cases investors can be won by a dummy and a good business plan.

You can also apply for other funding. Subsidies for startups include, among other things, low-interest startup loans or subsidies from startup consultancies. Startup loans are provided, for example, by kfw-bank or other credit institutions.

The advantage of these subsidies is that they can be financed even for startups that are slow to make a profit. If you obtain your funding from a startup consultancy, you pay significantly less for the consultancy itself.

Requirements to be able to found a startup

Once you have tested your business idea and obtained the necessary financing, you can theoretically found your start up. Nevertheless, there are still some requirements for your company to be successful.

First of all, you must not forget that a startup is also a risk. You have to try different things without knowing if they actually work.

There is no guarantee that your business idea and thus your startup will be successful. It is best to meet other companies or find out about them in your region and ask why they failed or how they became successful.

In order for your startup to become, be and stay successful, you yourself need perseverance. Groove with a lot of hard work you can achieve the desired profits.

If you want to found a startup, you must not lack motivation and passion. However, it usually takes years before your startup is actually established and you can record high profits. Consequently, you should not dream of quick money, but remain realistic.

At the same time you must always be enormously self-critical. Even if you have to appear extremely self-confident or even arrogant, this only shows that you are investing a lot of time and work into your business.

It's best to keep questioning your idea and your competencies and stay open to external feedback. Critical customer testimonials show you where you can effectively improve your company, your products and services, and your service. On the other hand, if you ignore feedback, your business may suffer significantly.

Successfully found a startup – a lot of work for your idea

Founding a startup does not mean immediate success, but is always associated with a lot of work. With

  • The right business idea
  • A good business plan
  • Test runs
  • A good marketing strategy

You can be sure that your company will actually make a profit. At the same time, you need a high willingness to take risks, a lot of stamina and self-criticism, so that your startup can exist for a long time. We from business registration.Com is always happy to help you create a business plan for the financing of your startup and to work out your business idea.