Perseverance. Determination. Risk.
That’s how you start a business. And that’s how you keep one.
Do you have a once-in-a-lifetime idea that’s just gathering dust in the back of your mind? Don’t worry – we’ll help you realize your dream. While starting a business may be daunting, it can be done with success!
The following four steps will guide you and show you how to start a business from zero.
Step 1: Find an idea that is tangible and that you believe in 100%. Create a vision and define the core values of your future company.
As an entrepreneur you’re going to have plenty of sleepless nights, wondering about your future steps. One thing you should never worry about: your idea, and the values connected to it.
When you start a business, you have to first sit down and evaluate your own idea: What is the purpose of my company? How do others benefit from it? Am I doing something unique? And the most important one: how can I create a vision that is creative and sustainable at the same time?
Vision: the ability to think about
or plan the future with
imagination or wisdom.
Step 2: If imagination and wisdom are the two front wheels, economic and analytical aspects become the rear ones and possibly the catalysts.
Once you got the visionary part down, it’s time to get a reality check. To start a business is not just a matter of creativity and desire, but also a question of financial possibilities.
Am I willing to invest equity capital, can I build cooperations with relevant and potential partners, am I eligible to take on a credit?
Figure out what you have, what you don’t have and what you could get access to. Starting a business isn’t easy and you don’t have to do it alone. There are plenty of resources available that can help you get started. Whether it’s money, connections or the necessary know-how and consulting through the hands of a marketing agency.
„It’s important not to focus on the immediate amount of money you’re spending. Sometimes you have to invest money and time, in order to receive much greater returns“, says Gina Crepaz, CEO of artdirection4u ADVERTISING GmbH.
This is also a good time to become acutely aware of your situation and assess whether you are ready to take risks, to go through highs and lows and to realize that you’re about to venture into independence. Not everybody is born to be an entrepreneur and that’s completely okay!
Step 3: Make a business plan. Revise it. Then start all over.
Any good writer will tell you the same: a draft is just a draft and rarely ever published. If you want to start a business, you have to make sure you’ll put in the time.
The same goes for your business plan: it takes time, careful analysis and plenty of revisions.
In the foundation phase of building your business from scratch, you have to have a plan and communication strategy that you can follow. Consider things such as visualization, money and doing a SWAT and market analysis. This is done by determining your company’s competitive position through identifying its strengths, weaknesses, opportunities, threats and of course, the competition.
Research and learning are your best friends here. Don’t be in a hurry – do your homework now and you’ll be rewarded later.
Good advice in this phase is to find a mentor. Somebody, who you can look up to and who’s gone through something similar.
It doesn’t have to be somebody perfect either – au contraire – somebody who has failed and then succeeded will be able to tell you a lot more about life and the hardships of owning your own business.
Step 4: It’s time to get going.
Go through with your idea. Don’t just dream about it – execute it.
„Be the captain of your own ship“ (Gina Crepaz).
This is the most critical step, where many people fail. A lot of people have creative and great ideas, but only a few of them actually take the next step and actively pursue their visions.
This is where thinkers and doers are separated.
Which one are you?