Would you like to set up your own startup company and don’t know how to proceed? In this post, we’ll tell you 5 tips on how to found your own successful startup!
Tip 1: find an idea
The first step to yours Startup First of all, you have to find an innovative idea. As a rule, there are two approaches: You can find a solution to an existing problem or you can further develop an already existing idea. The first variant has proven to be a tried and tested method of successfully founding a start-up. But your startup can also lead to success in the further development and improvement of an existing idea. Customer feedback on existing products and services plays a major role here. The question here is: what improvement does the customer want?
Tip 2: choose the type of company
After you have found an innovative idea for your startup, you have to find the right type of company for you. The choice mostly depends on the initial capital.
Many self-employed people initially opt for a sole proprietorship. When founding a sole proprietorship, neither liability capital nor formation formalities are required. The entrepreneur can get started right away even without a high initial capital. With this form, however, it is important that the profits are taxed at the personal tax rate and that the entrepreneur is liable with his private assets.
If there are two or more people, the Civil Law Society (GbR) the most common type of company. The establishment also takes place without establishment formalities and entry in the commercial register. With an annual profit of 50,000 euros, this legal form only requires an income-surplus calculation. Also with this type of company it should be noted that the shareholders are liable with their private capital in addition to their company assets.
If you do not want to be liable with your own capital, it is necessary to set up a corporation. The form of the GmbH occurs most frequently here. However, this requires a capital contribution of 25,000 euros, with which the company is liable. In addition, this requires a more complex bookkeeping according to the accounting rules of the Commercial Code.
Tip 3: financing
Of course, financing also plays an important role in the success of your startups. The startup has limited resources, especially at the beginning. You can apply for a bank loan here. In particular, promotional banks such as KfW, for example, offer bank loans for short terms (up to 5 years) at low interest rates. Another option is to find an investor who would like to invest in your idea.
In the last few years, another financing option for startups has become very well established: crowdfunding. This form of financing is group financing, which is usually carried out via the Internet.
Tip 4: Put the right team together
Probably the most important tip for a successful startup company is choosing a suitable team. This should be characterized by different types of work: from generalists to specialists can be found in successful startups. Individual characteristics are important here in order to promote diversity in the team.
Teamwork is also crucial to the success of your startup. A collegial atmosphere inside the office but also outside of it is of great importance. Regular joint ventures promote solidarity and create trust for successful teamwork.
Tip 5: Build the right communication
Communication is particularly important to lead your startup to success. With communication tailored to your target group, you can attract new customers and expand the reach of your company. In particular the common ones Social media Channels are essential to achieve this goal. Good public relations work is also required. This business area is extremely important, which is why the founders should take on this task themselves, especially at the beginning, in order to ideally sell their company values.
Tip: Would you like to read more on this topic? You can find out everything about the successful communication of your startup in our article The right communication for your startup – this is how it works!