The Four Phases of a Successful Startup

You want to be self-employed or run your own businesses? Let it not remain a dream! It is important that you prepare optimally for your new task focus not only on a convincing business plan (see this information about the cost of creating a business plan), but also on the crucial phases of the startup.

The four startup phases:

• Orientation and realization phase
• Design phase
• Implementation phase
• Establishment phase

The First Phase of the Startup is the Orientation Phase

This first phase is before the actual start-up. Analyze your business idea and examine whether it is feasible. You consider several factors:

Personal
– Are you the entrepreneur type? Can you become an entrepreneur?
– Do you have the necessary know-how to realize your idea?
– Can you provide financing?
– Do you have a coherent approach?

Relevant to the market
– Is there demand for your idea (product or service) on the market, so you can build a customer base?
– To what extent can you handle potential competitors?
– Which USPs does your concept have?

If you can answer these questions satisfactorily for yourself, you can move to the actual business planning process and concept itself.

Startup Phase Two – Make Specific Plans

Once your business idea is fact, you can move on to the next step. It is important to create a business plan. The business planning process should be worked out well, because it is crucial for business creation and plays an important role in lending. If you need professional and experienced help for your loan interview, you are welcome to come to us.

Other reasons for creating a business plan include:
– Easier to obtain bank financing, grant or venture capital –
– Faster to get a visa (for foreign founders)
– For partners and other stakeholders
– To guarantee property or obtaining cooperation commitments
– As internal control / validation tool

Would you like to contract BrainHive? Then you must describe your business idea precisely. This is done either by mail, telephone interview or through the BrainHive business plan questionnaire. On this basis BrainHive does research on competitors, location and target group of customers and creates a professional business plan.

Now that you have your idea and business plan, we move on to the third phase of the startup: Implementation.

Startup Phase Three: Implementation

At this stage of the business planning process your idea is no longer only on paper. You are using all your strength to get the company up and running and to become a successful entrepreneur. This means chiefly having good organization in all the phases of starting up. For example, you must report your activity to the tax office, hire staff and make contracts with customers and suppliers.

You need to make yourself known in the industry and maintain your status. At this stage it becomes clear whether you have assessed yourself and your skills accurately. Errors in the business planning process, for example inaccuracies and poor judgment concerning finances, now become painfully obvious. However, if you prove entrepreneurial skill you can move on the final phase despite any mistakes made here.

Startup Phase Four – Becoming Self-Employed – The Establishment Phase

Here you set the course for sustainable business success. You have successfully established your business model and have become known in the industry.

Now you must consider the following factors in order to stay on the market:

1. Observe the market closely!
2. Stay up to date!
3. Don’t lose sight of the competition!
4. Maintain your network!

The Business Plan is Essential for Launching a Startup

Founders are usually most enthusiastic about the implementation and actual startup launch. However, you should not underestimate the first two phases because they are crucial for success in the future. You should be meticulous at every step when building a business, especially upon creating a business plan.

Miscalculations don’t come cheap, especially such in the financial plan. It is important to avoid mistakes from the very beginning and in fact quite advisable to contract a business plan expert to prepare your business plan concept. A professional can alert the founder of potential flaws and difficulties regarding the business idea. As your professional partner BrainHive will do research on key market figures that would otherwise take you a great deal of effort, and this data is quite important to investors. You will get a perfectly formulated, custom-made, thoroughly researched business plan that is absolutely solid when it comes to the costs, startup risks and prospects of success.