7 Steps when starting your own business

Start doing business? Everyone can do that. You don't need a diploma, a lot of money in the bank or years of business experience to start a business. What you do need is a strong plan and the drive to stick to the steps in that plan.

If you read this, chances are that you already have that drive, but you may not know where to start. That is why we have drawn up a step-by-step plan with 7 essential steps for the starting entrepreneur.

1. The most fundamental question: why do you want to start a business?

More money? More freedom? Think carefully about this! What drives you?

Ask yourself the following questions to find out what kind of company you would like to run and what it takes.

  • - What skills do you have?
  • What is your passion; what do you really want to do?
  • How much capital do you need?

2. What kind of company would you like to run?

Do you already have an idea? If so, then you can skip this question. If not, no problem. There are a lot of brainstorming methods for coming up with a good idea.

  • Which technologies can change life as we know it?
    Can you stay ahead of the curve? By the way, you don't have to reinvent the wheel, applying an existing business model to your industry or niche is also a good revenue model.
  • Where is demand for?
    If you come up with a solution for something that many people see as a problem, you will naturally be paid for it. Problem solvers are needed anytime, anywhere

3. Thorough market research

The most common mistakes when conducting market research are:

  1. Only use secondary research.
  2. Only use online resources.
  3. Only interview the people you know well.

So, let different people get to know your product or service to find out what they think. A fresh look can make you suddenly find out something you've never thought of before, or something you've overlooked.

4. The legal aspects

It is wise to take the possible legal aspects into account immediately. In this way you will have to worry less at a later stage about someone running away with your idea or being charged with something that you didn't see coming.

5. Write a business plan

A business plan is a description of how your company will develop. From the start to the intended result.
How do you write a business plan? You read that in this blog post!

At Holland Startup we choose to replace the business plan with the Lean Canvas method.

6. Financing

There are countless ways to get resources that can help you boost your business at the start. We highlight 3 common ways:

  • Finance your startup yourself. This will take longer, but you have full control.
  • Apply for a subsidy for small businesses. This can be a difficult process, but it does not cost you any equity. Of course you can claim the start-up allowance and the self-employed person's allowance, but it never hurts to do research into subsidies.
  • Approach an incubator or accelerator. Incubators and accelerators are there to help starting companies to the next level. Most incubators offer resources, including office facilities and consultancy, but often you can also use networking opportunities and even seed funding.

7. Build a team

You need a team to scale up a company. You must transfer certain responsibilities to others. The most important reasons for outsourcing tasks are cost savings and shifting the company's focus. When you want to grow, you cannot do everything alone! Outsourcing your tasks is not just a matter of saving money. Outsourcing is a crucial aspect of innovation and growth.

Important when building a team: always clearly state what the business objectives are. Ensure that everyone understands his or her role within the organization.

Do you understand that your work as an entrepreneur is never done? You will be constantly working. When you do what you enjoy, that is anything but bad!

At Holland Startup, first-time entrepreneurs fulfill their entrepreneurial ambitions. We guide, coach and finance young entrepreneurs to turn ideas into successful startups.

We enable aspiring entrepreneurs to build a SAAS software company Are you in?

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