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Start, Up

Start Your Business

A Step By Step Guide To Starting In Business

A business plan serves as a guide and helps to steer the company on a regular track. In this list you record all company-relevant factors and not only convince lenders of your business idea. Above all, a business plan enables you to deal intensively with all aspects of your project. So what needs to be there? Naturally, you need to know about any employees you will have and to protect their data. Also, you need to look at stock, what do you need to buy in, for example engine points or condensers, depending on what your field of expertise is.  

Determine capital requirements

Determine the capital requirements for starting a business as realistically as possible. Keep in mind that in the initial phase you may hardly make a profit or even incur losses. When determining, take into account all expenses incurred for the first few months. These include, for example: Fixed costs (rent, installments, ancillary costs, insurance), production and material costs (machines, materials, goods, storage and transport costs), personnel costs (wages, ancillary wage costs), initial equipment (machines, software, office equipment), licenses and permits. In addition to the items mentioned, private expenditure continues. Include this in your full-cost financial planning.

Take out insurance

In the event of damage, the right insurance not only protects your business, but also your private existence.

Plan and apply marketing strategies

For example, use advertisements in newspapers or flyers to attract local attention. You can achieve even greater reach via the Internet and with the help of social media. A comprehensive marketing plan will help you reach customers.

Introduce structures

Establish relevant structures at an early stage in order to enable an orderly workflow. The organization and process optimization of your daily tools. Create processes that you can work with over the long term.

Define goals

Define your short term, medium term and long term goals. Determine which tasks and activities you bring closer to your goal and focus on these tasks. An appointment calendar or a to-do list helps to keep track of things.

Accept help and advice

Don’t be afraid to get help from experts and gather new input from outsiders. The reasons for that are obvious. Seasoned professionals have knowledge that you have not yet acquired. You can buy this knowledge practically and apply it for yourself in a success-oriented way.

Set goals

In order to achieve your goals, it is necessary to approach the workflow in a structured manner. It can be helpful to initially plan the organization of self-employment with the help of a calendar or a classic to-do list. To do this, put your company goals in writing. For example, it can be about the achievement of a certain turnover or the acquisition of 10 customers in the next 3 months. On the first of the month and every new week, write down all the work that will bring you closer to this goal. Take your diary to hand or keep a list that you can use to plan activities. Many sole proprietorships plan their tasks for the next day in the evening. Once you have achieved one of your goals, take a moment to reflect on the past few days and weeks. Be proud of what you have achieved. 

 

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