- You can also read: 12 tips to start and set up a successful startup.
How to create a company
In addition to the classics “write a book”, “plant a tree” and “have a child”, for many people there are other things to do before dying, such as creating a company for example.
If you have an entrepreneurial mind, you may have had ideas that could be viable in today’s market. Even ideas that could generate economic benefits . Why haven’t you started them
? Perhaps because of fear
? Or because you don’t know how to do it correctly?
Don’t worry. Below you will find all the information you need to get rid of any fear and to increase your knowledge regarding how to start a business. It is possible that the market is waiting for you and that it has a place reserved for you!
Steps to create a company
There is no single guide on how to create a company. You will find them longer or shorter, but all of them will be different. Below we offer you ours: a guide that brings together both the steps to create a company and a brief explanation of each of them.
1. Find a niche in the market
This is the first step that is usually taken when creating a company: to detect a need in the market that is not satisfied. You must pay attention to the people you know and even to yourself. The moment someone says something that begins with “I wish they would…” or similar constructions, take note and investigate if there is already a company that meets that need.
Tip: at this stage, we recommend that you go with a notebook and a pencil in your pocket wherever you go.
2. Decide how you are going to cover the detected niche
Once you have detected your niche, think about how you are going to satisfy the detected need in it. With a product
? With a service
? With a combination of both
? In some other way?
How are you going to get financing, if you need it
? Will you do it by yourself or with a partner?
Creativity is more than welcome at this stage.
3. Set your goals
When we talk about setting goals, we don’t mean simply “make money”. You must define them to the maximum and, if it can be through the SMART format , the better. SMART stands for:
- Measurable (Quantifiable)
- Time phased (delimited in time)
Well-defined objectives are those that meet these characteristics.
4. Define your target
The target or target audience is that profile of people to whom you are going to sell your product or service, and it will be in line with your SMART objectives. An example of target audience : “middle class women between 20 and 40 years old concerned about their physical health”.
A good strategic plan is essential to create a company. | Image by: Hermes Rivera / Unsplash.
5. Design your brand
Now that you have defined your target audience, it is time to design a brand according to it. You will not use bright colors unless your target is small children. That is why it is so important to define the target first. Someessential elements to design a brand are:
- Graphic corporate identity (what is usually known as “logo”)
- Slogan (if you see it necessary)
6. Create a marketing
plan A marketing plan is a document in which you gather all the strategy that you are going to follow from now on: when you are going to launch yourself on the market, in what media and channels are you going to do it, how are you going to to measure the number of people who come into contact with your brand…
If you are going to create a large company, do not forget to include in this plan the business areas that you are going to use: HR, sales, customer service…
7. Launch your company
Finally, launch your company to the market following your marketing plan. Either way, be flexible . If at any time you see that your marketing plan did not contemplate something that you now see as necessary, assess the possibility of acting now in that regard.
Procedures to create a company
To finish this article about how to create a company, we highlight some of the procedures to create a company :
- To register your trademark and make sure that no one else uses it, you must go to the Patent and Trademark Registry and request the registration of yours. You can also do it through the SPTO website.
- You must register with the Treasury IAE.
- You will also have to request the NIF of the company at the Tax Agency.
- In Social Security you will have to open the CCC and register as an entrepreneur.
- You must register in the Mercantile Registry.
- In a bank you will have to deposit an amount of money depending on the legal form you have chosen.
In any case, the ideal is that you have a professional who advises you on your particular case, because in some cases certain procedures will be necessary that you can do without in others.
Do you dare to create your own company?
- It may interest you: The 10 types of leadership that exist and the definition of a leader.