With the fun that it sounds to be an entrepreneur (or entrepreneur), the road to success is usually not so full of roses, but rather it is hard and difficult. Once they have had an idea, and the passion is on, many wonders: how do I become an entrepreneur really? We will try to answer this and other questions in our new Miniseries.

To begin, we will clarify the first questions that any entrepreneur asks, and we will analyze the first steps necessary for a successful start in the business world.

 

1. THE BEGINNING

At the beginning is nothing, although in the case of the entrepreneur is not entirely applicable, because at the beginning the idea is located. If the first occurrence has already matured towards a concrete idea, the intensive phase of planning begins. Here it is recommended to take enough time and calm to reflect carefully on your future business. What would I like to achieve with my company? Whom would I like to reach? Do I have enough money, time and passion? Many questions, few answers. At the beginning.

For this reason, the planning phase is the ideal time to draw up a business plan, which is the central part of any company. The business plan and/or the business plan is a written and detailed summary of the business idea and includes all the important and essential information that is relevant to the company. It basically contains a description of the product, an analysis of the target groups, a calculation of the potential and risks, the goals and strategies of the company, marketing and, very importantly, a financial plan. Actually, the financial plan is not only important for the entrepreneur himself, but also for all the participants he uses to carry out his idea. It could be said that the business plan is at the beginning the candidacy on which the success or failure of a company depends.

 

2. ENTER INTO ACTION

If sufficient time and calm has been devoted to the planning and business plan, the time has finally come to take action. In the beginning, it is necessary to clarify what the legal form of the company’s company will be. Will it be an individual company or a small company? Will it start up as a commercial company?

Once the legal form is clear, the first path takes all future entrepreneurs directly to the Provincial Commercial Register, where it is necessary to register the company. Then, a letter from the Tax Agency is received quickly. It is necessary to specify, in addition, if there are other people hired in the company. If affirmative, it is necessary to request a company registration number and register in the Health Insurance. The following steps consist of registering with the corresponding Chamber of Commerce and Industry, a professional association and, if they are commercial companies, at the Commercial Registry as well. Liberal workers, by the way, have no obligation to carry out any procedure of constitution, but go directly to the Tax Agency.

If the administration’s marathon has been overcome, the registered entrepreneur must now take up the issue of security: the question of the protection of the brand and insurance is pending.

Addressing the issue of brand protection is important for two simple reasons. First, because you want to remain unique and, second, because you protect yourself from being copied and from copying yourself to someone, it makes sense to register the right of commercial protection, so that laboriously developed ideas and concepts can not be stolen or copied. There are different possibilities in this regard for the protection of everything that is considered the creative property of a company, either a patent, or drawings and models (design), or a brand. It is also valid for the name of the company, which in general is insured against the copies for registration in the Commercial Registry. This means for the entrepreneur, at the same time, that he must face himself again, intensively and on time, to the search of the name, with which it will have to return to put the feet in the earth smoothly. To check if the name has already been assigned, there is the Registration of Accredited Companies. In addition, it makes up for taking a look at the  Spanish Patent and Trademark Office  (OEPM).

When you are already sufficiently protected, you have to deal with the subject of insurance, which can be somewhat unpleasant, but which is important. At this point, a general sigh is allowed because as an entrepreneur you also have certain obligations, and the insurance, the calculation and the minimization of risks are among them.

Obligatory for entrepreneurs and workers is the legally prescribed disease insurance. The legislature is not joking this matter, so you should not put unnecessary stumbles treating it negligently. In addition, some other insurance companies expect to be thoroughly analyzed. Reasonable work disability insurance, accident insurance and other commercial insurance, such as liability insurance or business insurance for property damage. As you should not underestimate the great abundance of insurance, especially its costs, below is an overview of some business insurance.

 

3. NO PASTA NO FUN

At this point, we want to talk briefly about the financial plan already mentioned in the business plan. As the old and wise German saying of “Without pasta, there is no fun” says, it is necessary to reflect very carefully how the company is going to be financed. In a good financial plan, many details and details are included, although in general, we can determine these four steps.

MEETING OF SUFFICIENT INITIAL CAPITAL

The creation of a company is not only linked to a great waste of sweat and enthusiasm, but also a large amount of expenses. These expenses must be covered and supported and, on many occasions, a successful creation fails because the tap dries slowly. That is why it is necessary for the entrepreneur to reflect on where he receives the capital. You start with your capital, and you start with money from the company, which finally must be repaid without interest. If the initial capital consists of several shares of own capital, however, that also means that each investor owns a part of the company. The other way goes through a balanced mix of own capital and foreign capital, which must be reimbursed, but which constitutes the lowest possible risk.

BUSINESS ACCOUNT SELECTION

Keep in mind that not all banks are the same or the needs of each company. One must question here the available credit policies and the internationality of the bank.

GOOD ACCOUNTING

The logical thing is to carry out a useful and meticulous accounting, before the registration of the company, and put it into practice consistently from the first day of planning and the entry of the first cents.

TAXES

One of our favorite topics, after insurance, is that of taxes. Here, too, it is not advisable to treat this issue in a deceptive and sloppy manner, however, because fiscal matters are often punished severely. It is advised, however, to analyze the subject in depth-first of all, to know exactly what taxes have to be paid and since when.

The beginning of the entrepreneurial initiative itself is certainly not something simple, but not impossible, when one organizes and carries out the task with perseverance and ambition. We must never forget that no entrepreneur has achieved success from one day to the next. Behind all the successes there is a lot of sweat and perseverance. First of all, you have to overcome the beginnings.

 

In the following stages, we want to go from being an official entrepreneur to being a well-known entrepreneur. It would be a pity if only the administrations knew us.

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