1. Find a business idea.
No hassle, ask yourself: What do I do? What do I want to accomplish? What are people searching? What does it take to create?. Then also ask yourself why? What gaps exist in my neighborhood? What is the situation I can fix? Here, we will conclude on: Who will drive our business?.
These questions we formulate and reformulate them to find our business concept.
2 .Design the business plan.
Once you determine what? Why? Who? guide our aim to answer the How? … that we help to shape specific business objectives. The answers are guidelines which will guide development through our business.
The design of the business plan will facilitate the application and understanding of business, and we need to determine where? and When? to establish the place of business and the time of the activities we design.
This document is essential to detect every business need and every opportunity, and identify issues and processes. The last question that we will be: How much? resources needed to conduct our business, ie the budget.
The budget should be as clear and orderly as possible (income, expenses, investments), as their alterations can be quite unpleasant.
3. Financing.
There are several public and private organizations that promote and encourage the entrepreneurs in our country, among which are: Ministry of Labour, Ministry of Economy, Ministry of Agriculture, etc. Municipalities also have grants, foundations, corporations and private companies, which have different programs, financing funds to support the development of entrepreneurial activities.
Keep in mind that if you need to borrow, no financial institution will contribute 100% of the total project cost, so we must be very clear on what you’re giving, remember that the business is yours, and It is therefore logical that you also contribute something to their implementation. In Spain, there are some micro-credit programs and others that will lend up to 70% of the total project cost, are soft loans and easy access.
Careful when deciding which credit options, keep your attention to the interest rate, the loan term, the frequency of payment and default interest. You should not sign anything you have not read and fully understood. Do not forget to visit all financial institutions (banks, boxes) in your area and you must compare different financing options.
4. Meets the plan and regulations.
There are certain procedures that are required by law for a business to operate in total formality. In Spain we have 3 levels of administration, and each may have, at least, a step that should do your business. In the State Administration, the first thing to do is register on the Census of the tax, under the heading which suits you, depending on the activities to be undertaken by your company.
The regional government should give high performance with the Ministry of Industry and Commerce. In municipal government, a number of licenses and permits must have every business.
Now is a good time to see if the project’s objectives are being achieved as planned (participation, new knowledge, foster community) and you notice things that are hindering the full implementation of the project (rising costs, new competitors, etc. ), do not forget to check and identify all internal and external factors of business because there’s still time to correct them.
5. Open your business!
Are you ready? Now, to open with much fanfare … It’s very interesting to visualize the opening and success. Choose a slogan evocative. Try exclusive promotions that day. Ingéniatelas! to get discounts, gifts, raffles, free samples … as we say in Nogueira & Vidal: The sky is the limit!
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