Valuable tips for founding your start-up

Formulate a clean start-up concept

Many founders start with their own financial resources (or those of their family). Often there is no (sufficiently) formulated business plan. Even if you are not applying for funding/loans/investments, the objectives, action plan and risk factors should be set out in writing and the business model formulated. A pitch deck (and the corresponding preparation) is also helpful.

We are happy to support you in developing a business plan and also offer pitch training.

Define your goals “SMART”

Goals must be specific:Formulate your goals in such a way that a subsequent review is possible. Only then can you make corrections and formulate a timetable and schedule that is as precise as possible: When should which goals be achieved (e.g. how many customers and/or sales at what time)? We will be happy to help you formulate SMART goals: specific, measurable, accepted, realistic and scheduled.

Look at your competitors

Enthusiasm about one’s own idea often leads to a failure to examine the requirements in detail. The question of what customers really need and can afford takes a back seat. Customer problem, own solution vs. competitor and market potential must be analyzed in detail. Protection strategies must also be considered.

Our experts have more than 15 years of experience in this field and will be happy to help you.

Be aware of your competencies

In addition to unconditional professional competence, perseverance, negotiating skills, communication skills, the ability to organize oneself and, above all, the ability to deal with setbacks are also necessary. In addition, business skills within the company are also crucial for success or failure.

Sales and marketing

Product, pricing and distribution policy issues are often only given marginal consideration. How should the product be positioned? What is different about it compared to the competition? What about market entry/access and barriers? Sales, marketing and general/administrative (SGA) costs are also usually underestimated in order to enable sustainable growth.

We will be happy to help you define a realistic sales/marketing/service strategy and its financial aspects.

Plan with a financial start-up phase

It usually takes longer than planned before the first sales are generated. Financing plans are often far too optimistic. Capital reserves are often exhausted early on. Self and family exploitation, both financially and in terms of work performance, must not be overstretched.

We will be happy to assist you at any time with our many years of expertise in evaluating your financial plan.

Plan funding and sources of financing strategically

Not every promotion makes sense at all times, which is why strategic planning is important at this point. Points to consider include Time of foundation, available equity capital, phase of the company and foreseeable objectives. Attracting private investors can also be a necessary but also sensible topic.

The planning of a funding/financing strategy is one of our core competencies and we are happy to support/advise you in the corresponding application process, from regional to national to EU funding instruments.

We are also happy to advise you on investors and have access to a broad network of partners, and the necessary company valuation is also one of our services.