Starting A Business Checklist: Get Ready For Your Next Chapter

So the time has come – you’ve decided to start your own business!

The only thing is: you don’t really know where to start, right?!

Don’t panic – we have summarized the most important points for you.

1. Brand Identity

The priority of the various points is left open. One prefers to start with meticulous financial planning; the other first looks for the most suitable legal form.

If you are one of those types who like to indulge in a wide variety of graphic designs and trends in brand identities, you should let your creativity run free. Because this time is not lost, it is sometimes used to find your strategy, like a brainstorming session, so to speak.

It is very likely that you are not a graphic artist yourself. On the Internet, however, there are various offers on various platforms such as fiverr.com, also inexpensive to get a good logo that is enough to get started.

However, if you want to take it “big” and start right away with the perfectly developed corporate identity, you should dig a little deeper into your wallet.

An important and absolutely not to be underestimated point in the brand identity is above all the naming or the brand name.

There is a whole branch full of agencies that specialize exclusively in “naming” – and charge a lot for it. After all, the naming itself is a complex creative process: A perfect brand name should reflect the image, arouse curiosity, but also not be too obvious and, above all, offer recognition value!

Once the supposedly perfect name has been found, the following must also be clarified:

  • Has the name already been taken abroad and possibly even given rights? -> This may even require the expertise of an international legal department
  • What about the name abroad? Does the name have negative connotations?

So you see: Even a rather banal topic like corporate identity can lead to in-depth research and difficulties if you do it wrong.

2. Finances

Let’s get to the next point – some love it, others hate it – finances!

This point should actually be part of the business plan, admittedly. But often a great business plan is drawn up at the beginning of the founding, but in reality, it may not be adhered to?

The goal can be to draw up an “official” business plan for banks and lending. In addition, of course, you have the freedom to write down the most important key data and figures that you want to achieve for yourself, for example on a notebook, in a PowerPoint or an Excel file.

It can also be helpful to regularly monitor the various metrics. Even if you’ve never been a fan of accounting, chances are you’ll be here.

Because when the accounting and finances are suddenly no longer completely dry, but become the reality of your own company, everything looks completely different!

3. Organization

The dear organization: Either you have it in your blood and are always well organized … or not? Nothing! The organization can be learned, and we’ll show you how!

Because: who doesn’t know that? The papers are piling up on your desk, deadlines and deadlines are getting closer, but your own organization or time management somehow doesn’t really want to?

The good news: Everything is a question of habit.

The bad news: Changing habits is painful, takes strength and energy and takes about 3 months!

To better manage your projects and planning, you can use tools such as Monday or Trello. Here, too, you will find an incredible selection of various tools on the Internet.

4. Strategy & business plan

The business plan, everybody knows that, and everybody thinks of him when the company was founded. After all, most banks systematically ask for it anyway when a loan is applied for from the bank when it is set up.

However, the topic of “strategy” is often underestimated and left behind, although it could bring so many positive things with it.

In order to determine the strategy, of course, the environmental strategy must first be analyzed.

There are various models for this, such as the PESTEL model or the Porter analysis, which we will go into in more detail in a later article – stay up to date!

5. Insurance

Also, insurance should be taken care of early on because often the search can prove to be more truthful hurdles for perfect insurance.

As an entrepreneur, you should take care of the following insurance:

  • Professional Liability Insurance
  • Legal protection insurance
  • Health insurance
  • Supplementary health insurance

6. Website and Domain

If you decide to start your own business, it is far from being enough. Especially nowadays it is becoming more and more important to have your own website and to be visible on the Internet.

To do this, you not only need an attractive and meaningful domain, which must first be available but also work on the SEO of your website and have the website hosted.

In order for the website to go online at all, it first has to be designed.

Sure, there are different templates for WordPress and co., But you won’t get very far here if you have a little technical affinity.

So, as you can see, creating and publishing a website is no trivial undertaking. Even if you create a website on wixx.com, for example, you still have to make sure that it can also be found on the Internet.

The following options are available:

  • Backlinks improvement
  • SEO optimization and creating SEO optimized articles
  • Social media management with regular postings
  • A SEA strategy
  • Etc.

Here, too, the following applies: A new brand needs to be built up first. This not only requires staying power but also often a more or less small budget.

So when you, as an entrepreneur, build a new, your own brand, you have a long way to go before it becomes recognizable.

As a franchisee, you have the advantage that you can use strong and already established brands with lucrative concepts.