There are around 26 million companies listed in the USA. The economic spectrum ranges from one-man businesses to small and medium-sized enterprises to world-renowned global players.
If you want to join the American start-up scene, all you have to do is register your business. However, the first step towards self-employment begins in the mind. Once the decision has been made and the willingness to give 110 per cent to reach your personal goal is there, the first step in the right direction has already been taken.
But how a company develops from an idea into a high-performance group is explained in the following article.
Step by step to the start-up
Being an employee does have its advantages: A secure income, routine and a punctual end to work. Nevertheless, the lack of independence and self-determination can be stifling.
Many employees want to develop professionally, test their own limits and take on more responsibility. The free choice of workplace and working hours, as well as potentially higher earnings, are arguments that have driven a large proportion of founders into self-employment.
Anyone who wants to venture into starting their own business and not be one of the 71 percent of businesses that fail within the first ten years should follow these guidelines:
Starting capital
With today’s consumer costs, which are once again being driven up by current inflation, it is difficult to build up reserves. Those who are clever with their own income and have their expenses under control are nevertheless able to build up a financial cushion. Various investment strategies such as investing in gold, trading with Binary Options or buying real estate help to build up a starting capital for one’s own business.
If savings are still low, it is advisable to focus on an online business. Without the running costs for the office and the need to forego large purchases such as computers, machines, etc., a start-up can be set up even with a small budget.
Business idea
Steve Jobs and other visionaries needed several attempts until the right business idea was found. It takes a lot of work and ingenuity to develop a concept for your own business. If you lack creativity, you can also orientate yourself on the existing market. The wheel does not always have to be reinvented. Even small modernizations of already existing concepts can lead to success. It is important to differentiate oneself from the competition.
Business model
However, the idea is not enough. The business model has to be worked out. This means that the offer has to be developed, and a target group has to be selected. The buzzwords of profitable start-ups are scalability and innovation. Only through the right balance can sales be generated.
Proof of concept
Afterwards, your business model and the idea should be put to the test. With the proof of concept, you test whether your concept is accepted by your customers. The proof of concept can be a website, a pilot company or a prototype.
Business Plan
The business plan is the be-all and end-all of self-employment. In the document, you describe your business idea, your concept, the industry, the competition, your unique selling proposition and the requirements. In addition, a financial plan is prepared, which presents the potential income and expenses realistically. The business plan serves as a decision-making aid for investors and banks and as a guide for your business activities.
Pitch
The pitch is about convincing supporters and investors of your business idea within a few minutes. If you have the investors on your side, you have the necessary small change to turn your project into reality.