Starting a business: How do I proceed?

Reading time 6 minutes
Starting a business: How do I proceed?

As a company founder, you have a lot of responsibility, but you also enjoy more freedom and, with a bit of luck, you'll earn a fortune. Take advantage of the help on offer and prepare yourself thoroughly for your new role as company owner. You will receive funding for setting up your business and coaching will help you get started. It's best to create a checklist for setting up your business and work through it point by point.

Why it makes sense to set up a company

As a company founder, you are your own boss. You manage your time freely and take the opportunity to realize your personal ideas and dreams. You hold your destiny in your own hands and enjoy the Feeling of flexibility and independence. There are also numerous success stories in which small start-ups have become successful international companies over the years.

What do you need to consider when setting up a company?

First of all, you need a viable business idea. Your Business must really be worthwhile. The market analysis will show you how great the chances are. Other important factors are time, money, personal and professional skills. Can you cope with working more and longer than an employee during peak times and do you have sufficient financial resources to start a business?

The personal qualities of an entrepreneur include leadership skills, creativity and technical knowledge. You build your Business experience shows that you will be more successful if you already have knowledge of the industry. You can then better assess what to expect.

In some sectors, market knowledge is not enough; you need a certificate of competence. In many trades, for example, only master craftsmen are allowed to become self-employed. Strict hygiene guidelines must be observed in the catering industry and you will need a health certificate. Find out about the relevant laws beforehand.

Business start-up checklist: Your roadmap to success

Create a checklist before starting a business and work through all the important points step by step from the idea to the opening of the company. Proceed as follows:

1. analyze the market

Conduct market research and think about current demand. Define your target group and align your offer with it. Keep an eye on your competitors and consider whether you can really keep up. Identify potential niches and seize the opportunity to gain a foothold here.

2. create a business plan

Create a solid Business plan and define your strategies, goals and financing plans in it. This will put your company on a secure footing.

3. take care of formalities

Clarify the legal aspects and choose a suitable Legal form. Also remember to comply with tax regulations. Register your company with the tax office and, if necessary, the trade office.

4. go after customers

Once your company is properly registered, you can build your brand. With a clever marketing strategy, you can make your services or products known and generate sales. You can reach your target group online via social networks and campaigns.

business start-up checklist

5 tips for starting a successful business

There is a long road ahead of you from the business idea to setting up a company. Thorough preparation is essential. This is how you proceed:

1. concentrate on your own abilities

Set up your Business model on your skills. Don't get into a business that you know nothing about just because it promises high profits. There is often strong competition for lucrative business ideas with entrepreneurs who know the industry inside out. Only satisfy customer demand if you can really offer them something outstanding.

2. test your business idea

If there are any doubts, it makes sense to start small and check how the business is going. Many company founders run their business as a sideline in the early days and gradually expand their business. This gives you the financial security you need.

3. inform yourself thoroughly

Talk to experienced entrepreneurs and let them inspire you. Start-up round tables are held regularly in many regions. Trade associations also organize regular events for founders. In many places, there are mentoring programs and business plan competitions. Get connected!

4. let yourself be coached

A personal coach will support you in setting up your business by showing you the right path and mentally preparing you for your new task. Ideally, this coach should be a successful entrepreneur.

5. apply for subsidies

Don't give away any money and make sure you are well informed about the subsidies for business start-ups. Make full use of all the possibilities.

What subsidies are available for company founders?

A clever business idea is often not enough. As the future owner of a company, you need start-up capital to build up your business. Start-ups benefit from around 2000 Support programs from the federal government, the federal states and the EU. The following subsidies are available for business start-ups:

Grants

Under certain conditions, small and medium-sized enterprises in the liberal professions and the commercial sector receive a grant from the Federal Ministry of Economics for technology-specific funding programs, innovations and consulting. KfW Bankengruppe also grants loans and subsidies for the "Energy & Environment" sector, which the company founder does not have to repay.

Promotional loans

There is a wide range of low-interest loans available from the KfW Banking Group. Start-up loans are waiting for you, but also participation programs.

Guarantees

If you don't have the necessary security for a loan, you can get a guarantee under certain conditions.

Equity and venture capital

You are less likely to receive equity and venture capital. Nevertheless, there are also state programs for this.

How can coaching support your business start-up?

At the beginning you are often plagued by Self-doubtbecause you are entering completely new territory and will have a great deal of responsibility from now on. You will receive More self-confidence through coachingwhere an experienced expert guides you to solve your problems yourself and realize your full potential. A business coach knows the pitfalls and realistically assesses your abilities. With his help, you will master the challenges and optimize the start-up process.

Company founders: success factors and common mistakes

As a successful company founder, you plan ahead. You keep an eye on your finances and critically review investments. You also keep your feet on the ground and assess the situation realistically. You keep a close eye on the market and react flexibly to trends and changes in demand. You also have Discipline and stamina.

You also need a backbone. Nothing upsets you and frustration is a foreign word to you. You remain friendly and customer-oriented even in stressful situations. On the other hand, you are able to stand your ground consistently and confidently. In short: you have leadership qualities.

Mistakes when founding a company

As already mentioned, you must register your company with the tax office and, if you are not self-employed, with the trade office. Don't start until all the formalities have been completed. In addition to formal errors, there are other factors that can make it difficult for you to get started. Many founders are so convinced of their business idea that they lose sight of reality due to all the enthusiasm. Ultimately, the customers don't come and the business is a flop.

Don't underestimate the time and money involved. Many entrepreneurs work harduntil business really picks up. You can use the Patience and have to cope with the odd setback.

By the way: It is completely normal for business to not go so well at the beginning. Many founders post losses in the first few months.

Funding for business start-ups: What options do you have?

As already mentioned, there are many funding opportunities for start-ups. The best-known funding programs include KfW loans. The ERP Start-up Loan - StartGeld helps with financing up to 125,000 euros. KfW assumes 80 percent of the credit risk.

The ERP SME development loan offers easier access to credit and interest rate advantages. The maximum loan volume is 25 million euros. The KfW promotional loan for large SMEs is intended for companies with an annual turnover of up to 500 million euros. You benefit from easier access to a loan of up to 25 million euros.

Further help

Which subsidies your business start-up is eligible for is usually decided on a case-by-case basis. Find out from the Chamber of Industry and Commerce, the trade associations responsible for you, chambers of trade, but also from your tax advisor and lawyer. Banks and savings banks can also often help you.

Do you need help with the preparation, financial planning, development and testing of your business model? Then a start-up coach is the right person to talk to. In some cases, it is possible to apply for state funding for paid coaching.

Starting a business and self-employment: your path to independence

As an entrepreneur, you work independently. You are not bound by instructions and design your company according to your own ideas. This puts you in a position to realize your personal Potential and remove blockages. Self-employment helps you to achieve more freedom, happiness and fulfillment.

Conclusion: Your path to a successful business start-up

Starting a business is a real challenge. But starting a business also offers you the chance to realize yourself and turn your creative energy into a lucrative business. To do this, you need the right resources and effective support. Take advantage of our Masterclass "Brain power for your business" and benefit from the latest neuroscientific coaching methods.

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Reviewed by Dr. med. Stefan Frädrich

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