Essential questions to ask before setting up a business

You intend to launch your own business with your own idea, or you are at the start-up phase. The following points on the checklist will help you form an idea of the planning required and be aware of possible losses during preparation.

Marketing/sales

  • I am well aware of the needs of my target group
  • My products offer customers a genuine advantage over the competition
  • I know the number of competitors, their market share and my potential
  • I am aware of the objectives of the pricing policy in my sector
  • I have specific knowledge about marketing in order to reach my target group
  • I have developed a marketing concept

Financing

  • I have already drawn up a business plan
  • My financial planning takes into account costs for production resources, development and fitting-out the business
  • Financing is assured and I have taken start-up losses into consideration

Legal structure

  • My company’s legal structure and the company and product names have been chosen and have already been registered
  • I have considered potential exit scenarios and put appropriate measures in place

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Last modification 27.08.2018

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