Every journey starts with the first step
The electric light did not come from the continuous improvement of candles.
An innovative and growth-oriented idea forms the basis for every successful start-up. A big difference to founding a company in an established and proven environment is the fact that you are often in a young market and functioning and scalable business models first have to be analyzed, defined and established. A start-up usually goes through six phases. However, this is only a basic model and the transitions can be fluid.
At the same time, new companies go through the individual steps with different speeds and depths, depending on the product and strategic orientation. This plan therefore only offers basic assistance, as each phase has different tasks and challenges. In the following overview we would like to give you a summary of the individual phases. Just contact us directly to discuss in-depth details and steps that are individually tailored to your business idea.
1. The orientation phase (pre-seed) First, you need to develop your business idea and evaluate it according to its implementation possibilities. Second is an initial analysis of the market potential and of the target group you want to address. Every new customer is very important in the initial phase, especially for young companies. The question to be answered is what the value proposition is, f.i. the added value for potential new customers so that they buy your product or use your service instead of others.
2. The planning phase (seed) You already know your target group and their needs. Now it is time to refine your business model and create a business plan. Depending on the type of your business model, this could also include the creation of a minimum viable product. Only the most important core functions are developed so that they can be illustrated. It is similar with prototypes in technical areas. What is the scope of your idea and how can you visualize it with just a few measures? After you have completed these steps, you can already approach the first potential investors such as venture capitalists (VC), crowdfunding platforms or business angels, if you do not want to finance your company entirely yourself. The completion of the second phase marks the preparation of the actual start-up by analyzing and determining the framework conditions. Factors such as the choice of the location, the legal form, a financial calculation, as well as applications for funding are part of this.
3. The foundation phase (start-up) This phase is about the actual company founding, which is associated with many visits to authorities and the preparation of documents. We would be happy to support you in this process if you want to set up your company in Germany or Thailand. Our service includes the selection of the right legal form for you, support with the entry in the commercial register or the Department of Business Development (DBD), as well as for notarial certification and legal advice. In addition to the subsequent opening of a company bank account, general financial planning is crucial in order to secure your liquidity, as you usually make investments in the first few months. We are happy to support you directly in Thailand in all matters relating to tax advice and can provide you with experienced partner companies in Germany.
4. The development phase (1st stage) Your company is registered and legally competent. The next step is to generate the first sales and to take a close look at your competitive and market environment. The question to be answered is how you can sharpen your unique selling proposition (USP) even further. At the same time, the first recruitment takes place in this phase, so that you have enough manpower available to move your company forward.
5. The growth phase (2nd stage) The number of employees continues to rise in this phase and new hierarchy levels are usually added – expertise is required. Proper financial management is crucial here as you should increasingly generate a higher cash flow to cover your expenses. We are happy to support you with tailor-made sales strategies in order to increase your revenue so that you can soon reach your break-even point.
6. The maturity phase (3rd stage) Congratulations! You have reached the last phase in which you are transitioning from a start-up to an established company with fixed structures and predictable sales. Strategic tasks, marketing, media and communication planning come to the fore in order to generate a higher income and market share. Depending on your corporate strategy, the foundation is either laid for sustainable growth or a planned exit and sale strategy.
We at Nine Elephants Consulting are very pleased that we can fall back on years of experience in the field of start-up consulting, both in the DACH market, in Thailand, and internationally. In doing so, we always respond to market-specific peculiarities so that we can promote your company development in the best possible way. For the establishment of a company in Thailand, this can also include items such as a work visa, work permit, company registration with the Department of Business Development (DBD), legal advice and support with a BOI application for the Thailand Board of Investment. A specialty in working with start-ups and advising them is the usually very close relationship between customer and consultant. This manifests itself in a mutual very high level of commitment, a shared enthusiasm and the investment of time and passion – we cheer with our customers at every step!