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Old 04.10.2011, 10:38
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Help/tips on how to get started with own business idea

Hello everybody,
I would like to ask for help/advise on how to go in order to transform an idea into a profitable businessn here in Geneva.
I obviously have the business idea but I am not an expert in preparing business plan and look for funds.
I would love to receive some tips and eventually also some pratical help from a consultant or similar.
Cheers all!
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Old 07.12.2011, 15:21
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Re: Help/tips on how to get started with own business idea

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Hello everybody,
I would like to ask for help/advise on how to go in order to transform an idea into a profitable businessn here in Geneva.
I obviously have the business idea but I am not an expert in preparing business plan and look for funds.
I would love to receive some tips and eventually also some pratical help from a consultant or similar.
Cheers all!
I will suggest that you first narrow down your target market. Describe it on a sheet of paper to the maximum detail possible. That would be like a x-ray of your end consumer characteristics. The more you get to know their expectations and needs, the closer you get to your outcome.

Then Performing a market research is also a must. Make sure that you are well aware of your competitors's best features? All the best
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Old 13.12.2011, 16:34
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Re: Help/tips on how to get started with own business idea

Hi

I have setup several business in Geneva and outside Switzerland.
As mentioned before, put everything on paper, question yourself very hardly.

An idea is thing, creating a business around is much more difficult. In the end the idea is only 1% of the value of the business.

Some ideas:
- Check about competition. If nobody does it, ask yourself why
- Why would people buy from you and not from the competition.
- Are your benefits real benefits for other customers
- Did you do market research? Not only to friends and family ?

Frederik Van Lierde

PS I am happy to guide you
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Old 13.12.2011, 17:05
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Re: Help/tips on how to get started with own business idea

Go to UK bank websites. Most of them now have excellent start up guides and templates for your bizplan. The plan isn't just for investors: it a great way to ensure that your thinking and logic is sound.

Good luck!
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Old 13.12.2011, 17:59
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Re: Help/tips on how to get started with own business idea

The most difficult part is the business plan.

It takes a lot of time to put together what you need but once you have it, it doesnt only help to sell your idea, but also lets you realise whether your idea is viable.

Surf the net, get ideas on how to put the plan together. You can write the plan in English, the banks always have somebody who can understand it. I had no problem with having an english one
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Old 25.01.2012, 12:35
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Re: Help/tips on how to get started with own business idea

Before starting any major business plan exercise, which consumes time and resources, I strongly suggest you do a very rough calculation, based on best estimates.

Try to find out what the rough investment cost will be; then try to gauge the rough operating cost of the business. Finally compare it with the expected revenues from your sales and verify if the margin and payback time justifies proceeding further: 1. with the business plan (fine tuning of the above) and 2. with starting the actual business and operations.

Needless to say: allow for contingencies and unexpected costs (they vary depending on industry)

Alex
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