1. Quickly design a logo
Many founders want to complete their letters and their website as quickly as possible. You design a logo for your young company before you have a commercial register entry. However, it later turns out that the company name may not be used for legal reasons.
The founder must determine a new name and now explain why the name and his logo have changed. The expenses incurred have been in vain, and it also does not shed light on the founder if he acts in such a hasty manner.
2. Don't create a business plan
The business plan forms the basis for the company's further financial planning and provides an overview of where the company would like to be in a few years. In addition, the business plan is the basis for applying for company loans and public grants.
Those who do not have such a plan on hand lose sight of their goal. Important: The business plan should include an analysis of the competition.
3. Don't worry about finances
This mistake is almost more serious than the lack of a business plan. After all, survival as a company depends on it! Only the entrepreneur who knows exactly what income he is generating and what expenses are to be borne can properly plan his budget.
He is not surprised by the current financial situation and is able to make important decisions at any time. If you do not have your finances well under control, you should get an accountant or tax advisor aside.
4. Do not apply for a VAT number
If the turnover is less than CHF 100,000, no entrepreneur is obliged to apply for a VAT number. Conversely, this also means that he cannot invoice VAT. In many cases it therefore makes sense to voluntarily apply for the VAT number and in return to be able to use the effective accounting method.
As part of this, you will be reimbursed for the input tax that you had to pay on your expenses. This is particularly important in the context of larger investments.
5. No marketing strategy
Customers are the most important thing for every company. Therefore, make sure that there are always enough customers! Do not neglect the acquisition and look for a marketing strategy.
Pay attention to where you best reach your target group and use the social media opportunities for yourself. You have to determine why your customers should buy from you and not from the competition. Then you can build a marketing strategy.
6. Don't give yourself a break
Every young entrepreneur knows that the beginning is pure stress. The long working hours are exhausting and soon you will feel exhausted and completely exhausted. However, those who do not stop in time run the risk of slipping into a burnout.
It is therefore important to know right from the start how order peaks can be intercepted and what can be done so that you, as an entrepreneur, can also take a break.
7. Do not employ staff
The idea behind it is understandable: employees cost money, their wages first have to be earned. But that is thought too short. On the one hand, a company grows with a suitable team that works well together internally and brings as much specialist knowledge as possible into the company. On the other hand, the range of services can be significantly increased if the work is on multiple shoulders.
In addition, personnel costs can be claimed for tax purposes and reduce the taxable profit. As a result, the costs are not just on the shoulders of the entrepreneur.
8. Ignore competitors
Many young entrepreneurs are enthusiastic about their idea and oversleep the fact that other entrepreneurs also have great ideas. If the idea is the same, the ice on which the entrepreneur moves is very thin.
He must ensure that he has a unique selling proposition that can be used for marketing purposes. Competition has to be observed in order to be able to react directly to changes in the market.
9. Set goals that are too high
A great ambition is understandable, but even a very motivated young entrepreneur should take care not to overstretch the curve. Those who take over risk their health and then fall back quite a bit.
It is important that every entrepreneur thinks about what he can do himself and understand professionally. For everything else, he should get expert help on board. Good staff is the most important resource in the company.
10. Do not set up a foundation agreement
Of course, when good acquaintances or former colleagues found a GmbH, they do not assume that the wind can change and they no longer understand each other. But unexpectedly comes often and it is always recommended to write down all regulations and agreements.
Above all, it is about regulating the financial aspects: How are the ordinary shares valued? Who is liable for what amount of liabilities? Possible exit scenarios for the shareholders should also be regulated in writing. It is ideal to set up a shareholder agreement immediately after the foundation or even before. A notary will also be happy to advise you on this, who will formulate all regulations in a legally secure manner.
You have questions, want to find out about Inform insurance companies for companies or do you want to know more precisely how you can avoid these and other mistakes when setting up a company in Switzerland? We look forward to your call, please make an appointment for advice from our experts!
