Starting your own compaany is not always easy, but with the right tools and approach, success is just a matter of time. Conny Grimling has collected seven most important factors for the start-up of a new company.
1) Test your business idea with a person you trust.
Go trough the business idea, dicuss the advantages, disadvantages, problems and opportunities.
2) Make sure you have a proper market analysis to work with.
It is important to know the potential of the market you wish to establish yourself in. You have to be aware of the size and the locality
Make a business plan that addresses all the above pices systematically
4) Get a good mentor or advisor.
It is important to have someone that can guide you through everyday trouble. A person who is well informed and has experince regardning entrepreneurship.
5) Make time to do what you are good at.
When you start a business its important that you feel that you are good at what you do. Focus on your product and the selling/promoting of it. When it comes to accounting, if you are not fimiliar with how it works, get help! Allocate your time wisley.
6) Make a meticulous budget for the first year
This is important for yourself so you know whats expected of you. Are you going to be able to take out salary or are you going to abstain from it? Will your economy allow you to abstain the salary? Make sure you have planned the first year carefully.
7) Realise how important it is to have a network.
Work a lot in networkorganisations. There are a lot of industry associations. Make sure to have a strong network, it can provide you with many advices.
We hope these gudielines will be useful!