Want to start a business from scratch? Find out where to start

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When we talk about starting a business from scratch, we need to keep in mind that there are two important parts: the entrepreneurial part, responsible for the ideas, planning and hands-on work of the business; and the bureaucratic part, which involves all the most boring part of the business, which is where many entrepreneurs lose control.

To have a successful business, these two parts need to work together. You can't have a great business idea without financial organization, just as you can't undertake a business with great planning and without market demand.

With this in mind, we have put together six essential items to keep an eye on when starting out from scratch, which will ensure that you start off on the right foot and have all the tools you need to open your own business.

How to start a business from scratch?
1. Start with the idea
If you want to start a business from scratch, the first step is to iceland phone number lead start with the idea for your company and define a business model. We have already written several posts on this blog, so we recommend reading 7 types of business models for your company to learn more.

Using the Business Model Canvas can also help. This tool allows the entire business to be viewed on a single page, enabling the visualization of the “strategic fit” between the different areas of the business. This makes the process more fun and intuitive; just grab a pen and post-its to start scribbling and throwing your ideas on the canvas collectively.

ideas into practice
2. Confirm that there is demand in the market
The success of your business will depend entirely on how well it performs with your customers. Therefore, before starting a business from scratch, make sure that there is demand in the market you want to enter and that your products or services meet the needs of your target audience.

It is also necessary to know this audience in depth, only then can you think of the best strategies, marketing campaigns and improvements in customer service to attract consumers.

3. Make a business plan
If you follow our blog, you already know that the motto here is planning. Whether you are starting a business from scratch or you want to expand your business, it is not possible to achieve your goals without strategic business planning .

Creating a business plan requires a strategic, financial and market vision that will guide you throughout the journey, as well as preparing you for possible unforeseen events and needs of your business, now and in the future.

business planning
4. Seek training
To be a successful entrepreneur, you need to study and train. No matter how much knowledge you have in the area you want to undertake, it is essential to have knowledge of finance, business management, human resources and a series of other skills necessary to run a company.

If you don't have the skills to do all of these things, relying on qualified and trustworthy professionals, such as lawyers, accountants and managers, can help you start your own business from scratch without any headaches. Having a business consultant by your side can also help a lot!

5. Plan your finances
As we said before, the bureaucratic part is not just about sending documents and physically opening the company. You need to plan and keep in mind that you will need to inject money into your business until it can pay for itself. And when will that happen? Only with planning will you be able to have an estimate when starting a business from scratch.

Here at 55 Lab, we offer a free feasibility study spreadsheet for legal entities. This study helps you understand all of your business’s potential expenses and revenues so that you can plan and prepare to invest in the business. We talk about the details of the spreadsheet here, where you can download it for free and learn how to fill out all of the items.

Want to start a business from scratch? Find out where to start
6. Beware of bureaucracy
To avoid bureaucratic expenses, many entrepreneurs prefer to keep their business informal. In addition to preventing the business from growing, this attitude can lead to more expenses in the future.

Formalizing your business from the beginning avoids possible tax problems in the future and gives you a series of exclusive advantages, such as having a CNPJ and having access to a legal account at the bank.
If you want to start your business without any problems and don't know where to start, get to know 55 Club , our club for entrepreneurs who want to start from scratch, but need help to do so with planning and security.