Everything you need to know about starting a startup

Start-ups usually have limited funds, so you need to be smart and creative to achieve your goals. Take a look at 5 key steps and the tips from Jeroen van Ieperen, Business Adviser at KVK.

1. Develop your idea

Your ideas and enthusiasm provide a strong foundation for a start-up. Van Ieperen: “Make sure you also draw up a well-researched business plan and clearly explain your revenue model. Only then will you be able to convince both investors and your target audience.”

Ask yourself the following questions:

• What problem does your idea solve?
• What solutions already exist for that problem?
• How does your product or service differ from existing alternatives? Is it really innovative and interesting for customers?
• Who are your customers and users?
• Who are my competitors?

2. Register your idea

Once you have fleshed out your idea, you can register it in the i-DEPOT. This gives you proof that you conceived, created or designed the idea on a specific date. You can set out all sorts of ideas in the i-DEPOT, such as a (fashion) design, song lyrics, book, film, screenplay, invention or prototype.

Protect your product or service

Have you now developed your idea into a concrete product or service? If so, consider protecting it with intellectual property rights, such as a patent.

3. Do your research

Van Ieperen: “Many start-ups find that people are interested in their idea, but this does not automatically mean they will become customers. Sometimes the market is not ready yet, or the product or service does not sufficiently meet the customer’s needs. That is why you need to do your research.”

Do not wait for your first real customer to start doing your research. Approach your target audience and ask all the questions you have. You will learn a great deal from these conversations.

Create a prototype, a working example of your product. And set up a test panel. Use the feedback from the test panel to keep improving your product or service.

4. Arrange money for your startup

Draw up an investment budget. This will help you work out how much money you need, both now and in the future. “Because developing a product and setting up a business costs money,” emphasises Van Ieperen. “And as your start-up grows, you will often need further funding.”

Various organisations and networks support start-ups. Find out which schemes best suit your business and ambitions.

“Also consider business angels,” advises Van Ieperen. “These are investors who invest their own money into promising companies, often start-ups. As well as funding, business angels also offer valuable knowledge and experience. With a rock-solid pitch, you can get them interested in your business.”

Subsidies

You may also be able to obtain funding from the government. Here is an overview of subsidies for new, innovative businesses.

Or use the Startup Box: an online tool for finding government funding for start-ups. Answer 2 questions and see straight away which government schemes might be suitable for your start-up.

5. Grow your startup

Is your start-up successful? If so, you can grow into a scale-up. A scale-up offers a product or service that is suitable for a larger, often international, market. You’ll expand your reach and be able to scale up your idea further.

During this growth phase, you will have to make lots of new decisions.

• Hiring staff for the first time: Can you no longer handle the work alone? See what to think about when hiring staff.
• Leadership: As your company starts to grow, your role will grow too. You will have to be a manager. Leadership is a very particular skill. If being a leader is not a strength of yours, hire a manager.
• Finance your growth: To grow you will need money. But how do you go about finding financing? Find out what grants and schemes there are for startups. And attract investors.
• Selling your business: Do you want to keep growing? Or do you want to make money fast and prefer selling your business?

Consulting on your next step

Do you have questions about your business, or would you like to discuss your next step? If so, please get in touch with the KVK Advice Team. The advisors have practical experience, will work with you to find solutions, and provide personalised advice. That way, you will not be on your own and can build your business with confidence.

Call 088 585 22 22 free of charge on weekdays between 8.30 am and 5.00 pm.