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Step by step ved start
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Before seriously getting on with the idea of starting your own business you must consider your motives for starting on your own. You also need to consider whether you possess the personal/financial/professional skills qualifying you for a business start-up.
Below are some useful points of consideration for your self-evaluation:
Why do you want to start-up your own business?
There can be various reasons why people want to start business. From inner urge to pit oneself against one´s own abilities as an entrepreneur, over a wish to make a lot of money, to a between-jobs-situation with no prospect of decent employment. However, surveys show that approx. half of those starting business do so with independence as primary drive and only a fraction do so to improve their standard of living.
Education
It almost goes without saying that you should not start business within a trade or area of experience that you are unfamiliar with. If you have to start out gaining basic knowledge about your service or product along with getting the grip of running a business it will soon become an almost insuperable task.
Experience
It is a great advantage if there is an educational foundation of the competences in the company. If you can add several years’ practical experience within the field it will take the competence to an even higher level. Life experience and spare time activities are also important parameters to revive when starting business.
Economy
Only a very few of those starting their own business have a lot of money to invest in the company. But then again, only a very few companies require substantial financial resources to get started. Usually, a consultancy or a software engineering company does not require huge start-up capital. Besides its knowledge pool, such a company usually only needs a phone, a computer, an internet connection and a means of transportation. Equipment which most Danes have.
Oppositely for retailers and development-intensive companies such as biotech, IT and manufacturing companies. If you are to start a small computer store your capital requirements quickly mount.
Internal Trade Networks
Having the right connections within a trade is a gilt-edged asset, but networks are also important within other aspects of business operations. Experience has shown that a good many customer relations are established because a friend of a friend has done a good piece of work for somebody.
Product/service Knowledge
It is important to possess a profound knowledge of the service or product you want to market. Obviously, uncomplicated business such as selling fast food or cleaning is possible to tackle without prior experinece. But starting a translation agency without a proper linguistic education would be very unwise. The more specialised the service, the more important is it to possess great knowledge of the topic.
Work Tasks
Obviously, the business owner must handle numerous work tasks. If there is only one person in the company s/he must be managing director as well as sales/financial/marketing manager, and bellhop. However, often there will be key areas which the owner is particularly keen on.
Thomsen
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