We offer you a practical guide to starting a business that works.
Starting a company is exciting, because starting a business idea and leading it to success is rewarding and self-fulfilling. However, it is not always easy to do so, especially when you do not have specific training in this area.
A good idea does not guarantee success, as it is important that the accounts balance, that the client’s needs are understood, that there is an efficient communication with him, etc.
Steps to create a business
If you are thinking of creating a company, in the following lines you can find the steps you must follow to be successful in doing so.
1. Get trained and educated
First of all, it is necessary to bear in mind that although you may have a very good idea, starting a company may require knowledge that is often not taught in your specialty. For example, if you are a psychologist, in the race they will hardly have explained how to do it. In these cases you will have to inform yourself. You should know that there are many courses for entrepreneurs that can be very useful.
2. Make a realistic business plan
Having an idea is great, but not all ideas are viable. If you want your business to be successful, you need to have a realistic business plan, and for this you must be honest and sensible. The business plan will help you know where to go, and what you have to do to make your business work.
3. Make a budget
You also need to make a budget and it should be realistic to avoid disappointment. Not everything is profit in a company and, logically, if you spend more than you earn you will have to close. A good tip is to overestimate your expenses and underestimate your benefits. Perhaps this way you will be alert and you will not take financial risks.
4. Think about the customer
Your idea seems good and seems viable, but it is important that you think about the client, and knowing what they want, when, how and how much they buy or use that service is of vital importance. Do not think only about what you would like your business to be, because it will be the customer who will let you know whether or not they are interested in what you offer.
5. Research the competition
But you should not only think about the customer, but also about the competition. Analyze if it is excessive or if a competitor does things well. This can provide you with very valuable information for your business. It is good that before starting a business you carry out a SWOT analysis. Below you can see a video that explains how to do it.
6. Find out about aid for entrepreneurs
Surely you are going to have to make a large investment, because no matter how good an idea is, it must be economically viable as well. If you do not have a large capital, find out about the aid or subsidies that both local or state institutions provide. In addition to grants, you can go to investors to see if they are interested in your product or service.
7. Start the company and do not despair with the bureaucracy
Do not give it more laps … and, start the company! Once you have it clear, you can take a step forward. Now, starting a business can be stressful, because you have to fill out a lot of paperwork, pay fees and taxes, and also be aware of the bureaucracy.
You must request the NIF, register with the IAE and be self-employed, you will have to choose a legal form and determine the type of company you are going to create (public limited company, limited company, cooperative, etc.), register the company in the commercial register, register patents and trademarks … So do not despair, you must go through this step.
8. Think about communication and marketing
Once you have the company set up, it is necessary that you send your services to the client. Communication and marketing are 80% of the success of your business, so you should not forget their importance.
To learn more, you can read our article ” Emotional Marketing: reaching the customer’s heart “
And if your company is related to the Psychology sector, you have to read this post: ” Marketing for Psychologists: 5 ways to reach patients “
9. Don’t forget the digital world
Do not forget that the digital world is the one that predominates today, so if you want to be successful you must exploit it to your benefit. Create, buy a domain, hire good hosting, create a website and a blog, which is a great way to interact with your potential customers.
In addition, you must work on branding as we explained in our article ” Personal branding for psychologists on the internet and social networks “
10. Think about human resources
If you want to have workers, you must be up to date in terms of human resources management. If you don’t intend to hire employees since you can’t afford the expense right now, use other strategies that don’t require money to get talent. For example, if you are a digital magazine, you can hire editors in exchange for advertising.
11. Measure the results
If you want your company to be successful, measure the results and analyze them. It is the best way to detect what you are doing right and what you are doing wrong. As I have said before, the digital world is extremely important today, and in this sense, social networks can provide you with feedback. That is why it is important that you move through this environment, as it allows you to know if your product likes it or not.
12. Money is not the most important thing in initial sales
You may want to make money with your business, which is vital for everything to run smoothly. However, in the initial phases of your business it is important that you pay special attention to your client so that they feel satisfied and are able to retain them. They say that the customer is always right, and even if this is not always the case, it will determine the success of your business.
13. Don’t be in a hurry to grow
The illusion of having a business can lead you to want to grow fast, but thinking like that can also cause frustration if your expectations are not met. Take it upon yourself to have a solid foundation and value small achievements because increasing step by step and month by month is a great success.