Transition from dependent employment to the creation of a business is a process comprising certain steps that need to be made in a specific order. In other words, in order to move on to the next step, first, we must have obtained convincing and substantiated answers during the previous steps that keep on trying until our business will encourage us to keep trying until we succeed.
Step 1, Market Investigation
We must perform a thorough market investigation to see whether our idea has already been implemented, whether it is outdated or ahead of its time. During the initial phase there is no need to spend money since we can search on the Internet ourselves or ask our friends' opinions through questionnaires that we can distribute to people and organizations.
Step 2, Believe in our idea
If we conclude that our idea is worthy of implementation, the next step is to believe in it. If we don't believe in what we are doing, it doesn't matter how much money we have. Our idea will not be worthy and we won't convince anyone to follow us or trust us.
Step 3, Collaborate with a friend
Collaborate with a friend who has the same knowledge and shares your vision or who complements you and helps you implement your business idea. If necessary, ask him to become a partner or associate.
Step 4, Never take out a loan if you don't have any income
In the beginning of your business activities, lending is prohibitive. "A little help to start" is not an option. You have to work hard following the example of so many businessmen who are now multimillionaires. You can start working from your house or your parent's house. Don't forget that you should always reinvest part of the profits and take out a loan only when your business is profitable.
Step 5, Patent your idea
If you don't patent your invention or innovation to protect it, it is possible that someone else does and then sells it, even to you. Follow the saying "if you don't patent your idea, you have competitors. If you do, you have partners". Patenting your ideas you become competitive, you have the advantage and you don't just talk theory.
Step 6, Pursuit profit
There is no point in financing an idea that does not generate profit. If your idea is not profitable, you will have to admit that you failed and try something new. It goes without saying that you must not put all your savings in this idea or fund it by selling your assets.
Step 7, Go online
Nowadays everything is on the Internet. There is no new businessman who does not know how to search or use the Internet. It will be a valuable tool in your investigation market, in finding partners or information.
Step 8, Networking
Networking is essential, even more than money. Through the Internet, small businesses worldwide can find a partner like you at the other end of the world.
Step 9, Discuss and collaborate
If someone else's idea is better than yours, seek to collaborate with him so that you can both benefit from it. You should also talk to other businessmen; learn from their success and mistakes because even mistakes can teach us something.
Step 10, Be extroverted
Greece's major problem is introversion. We only try to sell our products in the country which leads to a recycling of money while we should form partnerships and try to sell abroad if we want to create wealth.
Step 11, Turn to Europe and not only to Greece
You should have Europe in mind right from the start of your business activities because it is a market of 500 million people with a GDP bigger than USA's. Even if in Greece no one has the faintest idea why your idea is useful, in Europe there might be many potential customers who look forward for such a solution.
Step 12, Target businesses-customers
Many forget that entrepreneurship is not only selling to the public but mostly selling to businesses, known as business to business.
Step 13, Don't be afraid to fail
Fail is part of the game. Cherish this experience and try again without making the same mistakes.
Step 14, Invest on yourselves
Master your science and widen your horizons attending seminars, learning a foreign language, reading books, following developments in markets and traveling.
Step 15, Choose the legal form of your business
We left choosing of the legal form of your business for the end.
For further details regarding the creation, tax and legal status of each legal form please contact us.
