Here in this article, we will explain the in detail checklist which will help you to start your company easily. Let's go to check out the points one by one.
1# Research the Market & Needs of Target Customer
Conduct market research, interview your target customers, find their problems, and ask what they need.
2# Choose the Right Business Structure
A private limited company is liable for its own debts and losses. Your personal assets remain safe.
3# Write a Detailed Business Plan
A business plan details how you intend to develop & operate your business. Include your vision, objectives, and goals.
4# Convert Your Idea into the Product
Validate your idea, take feedback from target customers, and add features they need into the product.
5# Guard Your IP through Patent, Trademark, Copy-writing
Innovative ideas are rare, and the market is full of copycats. Take out patents, trademark, & copy-write it.
6# Search a Co-Founder with Complementing Skill-Set
Search for a partner who will complement your skill-set.
7# An Experienced Mentor could Point You to Success
A mentor can provide you with insights to overcome challenges and introduce you to important business contacts.
8# Explore for Different Funding Methods
Explore Crowdfunding, VC finding, Angel investors, bank loan, and as a last resort, personal assets.
9# Find a Supportive Investor
If you are going to market to find an investor, search for one who will support you for a long time.
10# Elevator Pitch to Present Problems You Intend to Solve
Tell investors what customer problems you intend to solve and why customers will buy from you.
11# Opt for Company Registration in Singapore
Find a registered filing agent & ask, how to start a company in Singapore, and how they can help you in doing it.
12# Select Employees Carefully to Build Your Team
When you hire employees, pay careful attention to their skill-set and passion.
13# Find a Workplace within Your Budget
Use home office and registered address service to be within the budget.
14# Business Website for Business' Online Branding
Building a business website and invest in Social Media for online presence.
15# Prepare Well-Researched Customer Persona
Know target customers, their demographic, and needs and why they purchase from you.
SBS Consulting is one of the leading corporate services providers in Singapore. It specializes in Company Incorporation, Accounting, Preparation of director's report, Taxation, GST, Payroll, XBRL, IT software development and maintenance and other value added business services for residents and non-residents of Singapore.
I am a technical consultant & writer who loves to forge knowledge on software product & services.