Launching a startup is always an adventure. It should be an adventure and something you hopefully find to be fun. There is no absolute one way to creating a successful startup. I designed this guide to launching a startup to offer my advice on how to launch a startup, specifically in Berlin, Germany.
I will take you through the steps I have utilized when working to launch a new startup or to help others in launching a startup in Germany. Preparing your startup for success entails having a fantastic idea, creating a strong game plan for how you intend on initiating your startup and how you plan on financing your startup. The best startups always understand these rules.
If you have made the decision to set up your company in Berlin, then you may want support and insights into establishing a business properly in Berlin. The set-up process and key contact may be crucial to success.
Support in Berlin
Discovering A New, Innovative Idea
The success of a startup begins with an idea. Often times, we come up with ideas and think they are great ideas, only to later find that the idea has either already been creating and funded by another startup or is not a realistic startup idea. Hopefully by following these steps, you will be able to determine if your idea is an ingenious idea.
Does your startup solve a problem?
Your startup idea should solve a problem or greatly advance the solutions of an already solved problem.
Does Your Startup Disrupt An Industry?
Disruption and disruptive innovation. This is the startup worlds favorite word. Often overused, it is still a key factor when deciding on if your startup is designed for success.
What is Disruption in the Startup World?
Disruptive innovation is a theory based on the idea that your idea is so good, you are going to be a game changer in the industry you are attempting to tackle and dominate in.
Is Your Startup Original?
Does Your Startup have competition
Is Your Startup Realistic?
The first thing I’d ask myself is, do I really want to be self employed and be an entrepreneur?
Branding Your Startup
Building Your Startup Business Plan
Every great startup has to have a great business plan. We will entail a more detailed look at the startup business plan in an upcoming future post, yet for know, let’s give the basics on what to expect when creating your startup business plan.
As an entrepreneur, you may want to ask yourself the following questions in preparation for your business plan.
What qualifications/professional background and licences, if any, do you have?
What commercial skills do you have?
What do you know about the sector?
What are your strengths?
What are your weaknesses?
How can your weaknesses be offset?
Find a Startup Mentor
How will you finance your startup
Here in Berlin, we have a range of services offering in-depth support tailored to the needs of entrepreneurs starting out. This has played a significant part in this success of Berlin, as a leading startup city.
Finding Financing For Your Startup in Germany
Seeking out seed capital for your startup can feel like an overwhelming task. Financing your startup may be possible with assistance from the German state. I highly recommend having a German speaking person on your team to help you with finding financing in Germany. If you are looking to establish your startup in Berlin, you may be in luck, because Berlin is abundant with support and services designed to help young startups create success.
What is your Startups target market and demographic
Launching Your Startup
Okay, so now you’ve got your idea and your business plan in order and you see how you plan to finance your startup. The next step is establishing your business and getting your legal status in order.
Registering Your Startup
Depending on what country and city you decide to register your startup will factor in what specific documents you will have to provide. Because we are based out of Berlin, Germany, we are going to give advice in establishing a startup here in Berlin.