1. Start carefully

Even if studies show that the self-employed are usually happier than employees, this only applies if they are successful in their job. This, in turn, only occurs if you act carefully from the start. It is not enough to have a good idea, it also has to have market potential. Furthermore, a business plan has to be drawn up, which is necessary, for example, for granting loans. In addition, the appropriate legal form must be determined and the entry in the commercial register must be made. What is also important is the absolute will to succeed and the knowledge that the days will be long and the nights will be short for the foreseeable future. The self-employed works independently and constantly!

2. Know the industry

The idea of making money in the future doesn't have to be new and groundbreaking. It is better if you know your product well and know how to market it. If you have been involved in this for a few years, you know the strengths and weaknesses of the product, and you may have a network that you can access. They also know what the market demands, what prices are possible and what the profit margins are. A precise analysis also reveals possible improvements to the product and shows gaps in the market.

3. Want to be successful

As a prospective entrepreneur, you should be willing to work a lot and for a long time. There will be dry spells that seem to drag on indefinitely until another silver lining appears on the horizon. Many start-ups report weekly working hours between 60 and 70 hours a week, even on weekends or on public holidays they work for the company or sit in front of the computer. What can be a little demotivating is lack of self-confidence. An entrepreneur should also have enough of this and say to himself that his project will of course be crowned with success. There can be no doubt about that!

4. Design the business plan perfectly

The business plan is something like the guideline of a company and shows on which basis the company is currently operating and which wishes exist. The type and scope of financing as well as the economic activity of the company are shown. Many start-ups see the business plan as just a chore that stands between them and a loan from the bank or a promotional loan. The business plan can do so much more! It also serves as an overview for the young entrepreneur himself, shows possible risks and stumbling blocks. It prevents an entrepreneur from plunging blindly into a project that would not be viable at all. In addition, if the business plan is revised during the course of business, unforeseen market developments and miscalculations often become clear, so that the company can counteract them at an early stage.

5. Cleverly choose the legal form

The choice of legal form is one of the most important decisions that the young entrepreneur has to make. The individual legal forms have different financial effects on the company that have to be considered. This can be a problem, because most companies have to work their way up and initially have significantly higher expenses than income. It is therefore important to recognize potential savings and this also when choosing the legal form. It usually makes sense to set up a sole proprietorship or a limited liability company; a limited company can also be considered in certain circumstances.

6. Create marketing concepts

A marketing concept should already be available immediately after the company is founded. The best business idea can only be as successful as the demand on the market. This in turn needs to know that your product or service exists! Create a structured marketing concept and precisely define your target group. You need to know who should or will buy your product and how best to reach this target group. Also think of the social media marketing opportunities, because these are in many cases the best way to get as close as possible to the target group. In addition, there are many inexpensive advertising options available via social media. A fact that founders have to take into account because they usually want to keep expenses as low as possible.

7. Know competitors

In the end, only those companies that outperform the competition survive. But this must be known! Even before the actual start-up phase, you should find out who your competitors are and what they may have in front of you. If you have a competitive advantage over the competition, do not rest on it, but stay on the ball. You must always try to be one step ahead! In many industries, the market is very fast-moving, and what is still current today will be obsolete tomorrow. If you stay up to date, you risk falling behind the others and being forgotten. It is often more difficult than catching up to catch up again.

8. Plan capital requirements well

Setting up a company does not consume huge sums of money. Rather, it is the running costs that cause problems for so many companies. It is therefore an important tip if you already draw up a cost plan when starting up that shows the capital requirements. What rent do you have to pay? Do you already have employees? How high does your own entrepreneur wage have to be? Which Insurance for companies are to be paid? In addition, machines and systems may have to be purchased, company vehicles may be required and marketing expenses must be considered.
At the same time, you should consider where the capital comes from. From the sale of the product or the provision of services, it will initially only flow sparingly. Are there promotional loans or grants? Please look here across the EU and within Switzerland, because different programs are also set up at different levels.

Do you have any questions about founding a company in Switzerland? Please contact us, our experts will advise you on the above and many other points that may be vital for you as a young entrepreneur!