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The business creation new is not an easy task: in addition to the need to draw up a profitable business plan and develop a brand from scratch, the birth of a company requires a whole series of administrative procedures that must be known to avoid problems in the future. However, with patience and dedication, success is possible! Nowadays, there are also many consulting services that can help us achieve the goal and speed up the time.
On the other hand, in order not to miss any milestones and to ensure that our company reaches its full potential, it is important to have relevant information. So, below we share 10 fundamental steps you need to know how to create a company from the beginning. Let’s get started!
1-Develop a business idea Accuracy and specificity is the first step to achieving our goal. What product or service do we want to offer? Is it possible to implement it taking into account the personal and social context? If the answer is yes, go ahead! At this point It is very important to be realistic and concise, and to choose a viable idea but also a vocation that we admire. The more we like the project, the easier it will be to implement it! A good exercise is to write down in a spreadsheet the strengths of our idea as well as the areas that need improvement.
Likewise, when we work as a team, It is highly recommended to perform a brainstorming with our colleagues bring concepts together and develop a shared vision.
2-Determine funding This is an indispensable step on our way. Once we’ve defined our idea, it’s time to determine how we’re going to fund it. Do we have our own financial support for the initial investment? Should I ask for a loan or bank loan for the first expenses? The form of financing will determine the rest of the planning, so it is important to ensure that it is reliable and long-term.
3-Create a business plan next point. What is a business plan? It is a physical document in which we put all the relevant information about the company to be born. A business plan is essential for organized and efficient work: it is important to describe in detail the goals for the short, medium and long term, growth and financing strategies and other aspects to make the company sustainable over time.
4-Do market research Comprehensive and detailed will help define the positioning of our company according to the industry it corresponds to. Who are the main competitors in the market? What are its advantages and disadvantages? What customer needs are not yet met? The more and better information we have about the market, the more opportunities we have to optimize our product and provide better services.
5-Choose a name and register it It would seem like a simple task, but This is critical to the well-being of our business. The name is the business card of our company, therefore, it should reflect your values as well as be easy for potential customers to remember.
6-Create a legal form the company will determine the legal requirements for its creation and operation. Each type of company has its own characteristics that you need to know before making a decision. In our country, there are the following options: Individual Limited Liability Companies (EIRL), Limited Liability Companies (SRL or Ltda.), Joint Stock Companies (SpA), Public Limited Liability Companies (SA) and Mutual Guarantee Companies (SAGR).
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7-Conducting administrative procedures This is one of the most difficult and tiring moments of life. business creation, but it is not impossible! Before starting to serve the public, it is necessary to fulfill a number of legal requirements to obtain the appropriate permits and licenses. The required documentation varies depending on the business sector and the country in which we are located.
8-Open a bank account This is not a small thing. Many times, to save ourselves from new bureaucratic procedures, we use our personal bank account for the company’s financial movements. Although it may be an alternative to get out of trouble in the early stages, it is advisable to separate personal finances from business finances. This way we avoid misunderstandings in addition to a very useful opportunity to obtain financing and other benefits.
9-Buy equipment and hire employees (if necessary) is a decision that we must carry out with responsibility and calmness. If we need hire employees work in our business We must provide them with all appropriate labor rights under the law and pay commensurate with the tasks they perform.
10-Promotion of the company This is a way to advertise our new venture. For this, it is important to use all the means at our disposal. Through social networks, advertising or creating your own website, Running a marketing campaign is very important to make our brand visible while it is taking its first steps.
