Startup & business startup

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In most cases, the startup is not about growing into a large company within a few years. Rather, the focus is on the desire to implement a certain idea, to build their own existence and to gain a certain independence. The fewest humans are born nevertheless as entrepreneurs. More important for the "TYPE entrepreneur / start-up" are basic characteristics such as passion, perseverance, tenacity and the willingness to always learn new things.

2. How to find the right idea?

There are many roads leading to rome:
if you already have a business idea you can jump right to question 3.

If not let yourself be inspired by an open view in the world or start up as a franchisee without your own idea. The main advantage here is that you already know the business idea works and you'll get plenty of support from the franchise system.

It is also possible to start up a business in the context of a business succession. Here are numerous opportunities on the market to buy a well-performing company and to drive it forward with new business ideas.

3. Is this business idea good?

Of course, you must first be convinced of your business idea. The question is whether this idea is also economically viable, because in the end it is about potential customers, business partners and even investors.

A good way is to discuss, try and test your product / service in small groups. It is important to provide honest feedback, e.G.B. By the family, friends or acquaintances. You should take any criticism (whether positive or negative), because new input will move your product / idea forward.

Also, at this point you should already give some initial thought to the market: such as the target group addressed, marketing, cooperations, distribution channels.

4. What all do I have to consider when starting a business?

If you want to start a business as a founder, you have to go through certain steps with regard to bureaucratic requirements.

  • Check permits
  • Choose a legal form
  • Clarify finances
  • Register your business
  • Clarify your private status

5. Can I start up alongside my job?

There are numerous business ideas that can be implemented as a founder on a part-time basis. Most important rule, it is recommended to coordinate this with the employer.

Your own business is usually more than just work. So please get yourself a precise timetable. In order to advance your enterprise correctly, however, it usually turns out that a business start-up must be full time.

6. What do I need financially?

The question stands for a very good analysis of your project. Not only the capital to develop products is necessary, but also analysis of purchasing policy (u.A. Discounts, bonuses, rebates), sales policy (payment terms, discounts, etc.).), on the use of personnel (amount of personnel costs), on other costs (such as rents, bank charges, tax consultancy costs) and finally, of course, the question of investment costs (in z.B. Machine, vehicle fleet).

A well-prepared revenue plan will help you develop a meaningful liquidation plan.

7. Where to get financial resources?

For most startup entrepreneurs, their own savings, support from family, and traditional development loans are among the most common sources of funds for startup.

Various factors play a role in the question of where you, as a founder, can obtain a loan. A significant role is played by the amount of your loan. There are various lenders who grant a loan for self-employed people. These include ◾housing banks ◾grant banks ◾microfinance institutions or also ◾online loans

If your house bank does not want to give you a loan itself, ask your bank if it will support you in applying for funding from the appropriate development bank. No matter which way of financing you choose, it is always advisable for business founders to carefully prepare and plan for the respective project. The main element is the business plan incl. Of a plausible financial plan.

8. Why do I need a business plan?

The business plan is the elaborated and formulated summary of your business idea.

Many founders rely entirely on the motto: just give it a try. In theory, there is nothing to prevent this. However, practice shows: optimal planning can prevent premature failure for start-ups. Inadequate planning is the most common reason why entrepreneurs have to abandon their business plans. A business plan checks the economic potential (see point 6) of your business idea and at the same time defines the most important measures for a good start-up phase and the subsequent period. Through a well prepared business plan you will also learn to better deal with the risks of your venture.

9. How to write a business plan?

When writing a business plan, you deal with many of the requirements for a successful business start-up. Therefore it contains clearly structured chapters. For example, you write about idea & target group, market & competition, goals, strategy, marketing or finances.

  • Founder
  • Business idea
  • Customers
  • Market & competition
  • Strategy
  • Marketing
  • Company
  • Finances
  • SWOT analysis (it is about strengths and weaknesses, opportunities and threats)
  • Milestones
  • Executive summary (idea, implementation plans, market research, all key figures in the overview and yet short and concise)

10. Who can help me with my start-up, business plan and finances??

Every company is based on an idea and therefore also has a business model per se. In practice, however, the wheat is quickly separated from the chaff. The better business models from the worse ones. The question is therefore: how do you develop a valid business model from an initial idea??

Milestone planning requires company founders to have a clear focus on future goals and creates transparency about the company's intended development. It can therefore also have a significant motivational effect on founders and their employees.