{"id":14659,"date":"2017-08-01T00:00:00","date_gmt":"2017-08-01T00:00:00","guid":{"rendered":"https:\/\/blog.smarteventi.it\/actionable-steps-starting-successful-business.html"},"modified":"2017-08-01T00:00:00","modified_gmt":"2017-08-01T00:00:00","slug":"actionable-steps-starting-successful-business","status":"publish","type":"post","link":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html","title":{"rendered":"Actionable Steps for Starting a Successful Business"},"content":{"rendered":"
\n

A report on business demography placed Italy with the largest active enterprise population at 3.9 million. However, the number of bankruptcies remain historically high despite their decreasing rates in recent periods. In the US, as high as 50% of businesses fail within their first five years since starting up.
\nBad business ideas or poor business skills? Not necessarily. The culprit may be attributed more to poor planning and execution. Starting a business involves a lot of things that need careful considerations, meticulous planning, and precise execution. Bypassing these actions will drive your business down the failure path.
\nTo help your business survive<\/a><\/strong> and reach its 5th-year birthday celebration and beyond, here are eight actionable steps to take and jumpstart a successful business.<\/p>\n

Actionable Steps for Starting a Successful Business<\/h4>\n

1. Perform Market Research<\/h3>\n

Want to own a castle, historic villas or even a monastery right into the heart of Italy? Your dream may come true with the country\u2019s craziest Strategic Tourist Plan of giving away 103 such buildings \u2013 as long as you shoulder the renovation and turn it into a tourist spot. Sounds really great, right?
\nBut before you invest all your hard-earned savings and commit all your resources to a new venture because you \u201cthink\u201d it is a great business idea, make sure that people will actually buy the products or services you are planning to sell. You\u2019ll find the answers you need when you perform market research.
\nThrough market research, you can get confirmation if your \u201cgreat\u201d business idea really holds some value among your targeted clientele. You can do so by physically doing surveys or interviews, or run online ads on websites, search engines and social media \u2013 and get an insight of what your targeted market has to say.<\/p>\n

2. Create a Detailed Business Plan<\/h3>\n

You can then take the next step and formulate a detailed business plan. This is a must-do business start-up step that may spell the failure and success of your venture. A sound Business Plan contains the following sections.
\n\u2022 Executive Summary
\n\u2022 Company Description
\n\u2022 Business Description
\n\u2022 Market Analysis
\n\u2022 Competitive Analysis
\n\u2022 Organization & Management
\n\u2022 Service or Product Line
\n\u2022 Marketing & Sales
\n\u2022 Funding Request
\n\u2022 Financial Projections
\n\u2022 Appendix<\/p>\n

Need help starting your business in Italy? Call us today!<\/a>\n

3. Identify the Legal Business Structure You Want to Start Up<\/h3>\n

Starting a new business involves registering with the government. Before that, you must first identify and establish the legal structure of the business you want to put up. Common business structures differ from one another by how the business is taxed and the kind of risks the owners will take when starting up a new business. These business structures include:
\n\u2022 Sole Proprietorship \u2013 Owned and operated by a single person. The proprietor and the business is seen and taxed as a single entity<\/p>\n

\u2022 Partnership \u2013 A single business with ownership shared by two or more people. Each partner shares in the profits, losses, and liabilities of the business.<\/p>\n

\u2022 Limited Liability Company (LLC) \u2013 There is a personal responsibility of the owners with respect to risks in the legal and financial dealings of the company.<\/p>\n

\u2022 Corporation \u2013 Ideal for bigger companies that have multiple staff and employees. The owners and stakeholders are distinct from the business itself, which is considered a separate legal entity.<\/p>\n

4. Make Sure All Regulatory Requirements in Your Country are Met<\/h3>\n

Italy was ranked 50th overall among 190 economies in the DB 207 by the Doing Business project by the World Bank Group. This is a measure of the ease of doing business in a particular country, including how a new business can meet all the regulatory requirements.
\nThis is a very important next step before your business can start legally in the country you will be operating. Each country has its own procedures and protocols, so it is important that you understand what is required before you make your next move.
\n5. Secure Your Business Funding
\nA very important part of your business plan is to identify the source of your funding in starting up the business, either from your own resources or from your investors. There are many ways to generate your start-up capital and the most common resources where you can get external capital is through:
\n\u2022 Seed Financing \u2013 a financing investment initiated by the founders, partners or investors in exchanged for ownership of preferred stock<\/p>\n

\u2022 Accelerators \u2013 funding, and capitalization are obtained through competition that involves public pitches.<\/p>\n

\u2022 Small Business Loan \u2013 funding and seed capital comes from money loaned to the owners by a bank, a financial institution, lenders, and even community development organizations.<\/p>\n

\u2022 Crowdfunding \u2013 money is obtained from donors through a crowdfunding platform. Some of the more popular platforms include Indiegogo and Kickstarter. The donors will not receive an ownership percentage but will receive a token as defined by the project owners.<\/p>\n

\u2022 Venture Capital Financing \u2013 In this structure, angel investors will provide a substantial seed capital to increase the value of the company as quickly as possible, if they find the business highly viable for creating substantial profits.<\/p>\n

6. Use Subcontractors Whenever You Can<\/h3>\n

If your startup business is not yet capable of sustaining full-time employees, then it would be wise to take the next step and hire the services of subcontractors. These subcontractors will work with you on a contractual basis, which you can terminate once your business has stabilized. This is ideal for business ideas that would require a certain push to get started but lacks the resources to get permanent employees that will be in it for the long run.<\/p>\n

7. Make Use of Available Tech<\/h3>\n

You should also make use of whatever technology that is available to you when you are just starting up. Similar to hiring subcontractors, you can minimize the cost by using free or open-sourced business solutions to help you with accounting, customer relations, project management and collaboration. You can scale up later and make use of more sophisticated solutions once your business has grown and has enough resources.<\/p>\n

8. Network with the Right People<\/h3>\n

To make your business a success, you cannot achieve it by simply doing it alone. You will need to network and interact with the right people that will help you establish your business and gain the momentum of turning it into a such. These people include:
\n\u2022 Right Mentors \u2013 that will give you the right direction and help you plan for business success by sharing their experiences and valuable insights<\/p>\n

\u2022 Right Strategic Partners \u2013 that will help you with important aspects of your business like financial and technological support among others<\/p>\n

\u2022 Right Team \u2013 that will help you establish your business through the proper execution of your business plan according to the particular roles they are required to do. These include the hiring of skilled, capable and qualified people to be your staff, employees or consultants.<\/p>\n

\u2022 Right Support Group \u2013 that will help you keep a positive outlook on your business venture, inspiring you or giving new ideas that can help your business push forward, survive and succeed
\nThe next step towards your business success is all up to you. You can decide to stick and nurture that \u201cgreat\u201d business idea in your head, take the actionable steps listed here and get all the gears running towards the proper execution of your plan towards business success.<\/p>\n

Call us today to start your business in Italy!<\/a>\n","protected":false},"excerpt":{"rendered":"

A report on business demography placed Italy with the largest active enterprise population at 3.9 million. However, the number of bankruptcies remain historically high despite their decreasing rates in recent periods. In the US, as high as 50% of businesses fail within their first five years since starting up. Bad business ideas or poor business […]<\/p>\n","protected":false},"author":1,"featured_media":14660,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false},"categories":[1459,1407],"tags":[1650,1651,1423,1500],"yoast_head":"\nActionable Steps for Starting a Successful Business - Il blog di Smart Eventi<\/title>\n<meta name=\"description\" content=\"To help your business survive and thrive in a competitive environment, here are eight actionable steps to take and jumpstart a successful business\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Actionable Steps for Starting a Successful Business - Il blog di Smart Eventi\" \/>\n<meta property=\"og:description\" content=\"To help your business survive and thrive in a competitive environment, here are eight actionable steps to take and jumpstart a successful business\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html\" \/>\n<meta property=\"og:site_name\" content=\"Il blog di Smart Eventi\" \/>\n<meta property=\"article:published_time\" content=\"2017-08-01T00:00:00+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"730\" \/>\n\t<meta property=\"og:image:height\" content=\"304\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"6 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Organization\",\"@id\":\"https:\/\/blog.smarteventi.it\/#organization\",\"name\":\"Smart eventi srl\",\"url\":\"https:\/\/blog.smarteventi.it\/\",\"sameAs\":[],\"logo\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/blog.smarteventi.it\/#logo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/logo-smarteventi-2-1.gif\",\"contentUrl\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/logo-smarteventi-2-1.gif\",\"width\":960,\"height\":340,\"caption\":\"Smart eventi srl\"},\"image\":{\"@id\":\"https:\/\/blog.smarteventi.it\/#logo\"}},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/blog.smarteventi.it\/#website\",\"url\":\"https:\/\/blog.smarteventi.it\/\",\"name\":\"Il blog di Smart Eventi\",\"description\":\"\",\"publisher\":{\"@id\":\"https:\/\/blog.smarteventi.it\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/blog.smarteventi.it\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#primaryimage\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg\",\"contentUrl\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg\",\"width\":730,\"height\":304,\"caption\":\"successful business guest post garret norris\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#webpage\",\"url\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html\",\"name\":\"Actionable Steps for Starting a Successful Business - Il blog di Smart Eventi\",\"isPartOf\":{\"@id\":\"https:\/\/blog.smarteventi.it\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#primaryimage\"},\"datePublished\":\"2017-08-01T00:00:00+00:00\",\"dateModified\":\"2017-08-01T00:00:00+00:00\",\"description\":\"To help your business survive and thrive in a competitive environment, here are eight actionable steps to take and jumpstart a successful business\",\"breadcrumb\":{\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Blog\",\"item\":\"https:\/\/blog.smarteventi.it\/en\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Actionable Steps for Starting a Successful Business\"}]},{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#webpage\"},\"author\":{\"@id\":\"https:\/\/blog.smarteventi.it\/#\/schema\/person\/4afc330a6a8aaef78c6b6b3574cf7d59\"},\"headline\":\"Actionable Steps for Starting a Successful Business\",\"datePublished\":\"2017-08-01T00:00:00+00:00\",\"dateModified\":\"2017-08-01T00:00:00+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#webpage\"},\"wordCount\":1259,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/blog.smarteventi.it\/#organization\"},\"image\":{\"@id\":\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#primaryimage\"},\"thumbnailUrl\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg\",\"keywords\":[\"business growth\",\"business hacks\",\"business in italy\",\"marketing\"],\"articleSection\":[\"Guest post\",\"Smartips\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#respond\"]}]},{\"@type\":\"Person\",\"@id\":\"https:\/\/blog.smarteventi.it\/#\/schema\/person\/4afc330a6a8aaef78c6b6b3574cf7d59\",\"name\":\"admin\",\"image\":{\"@type\":\"ImageObject\",\"@id\":\"https:\/\/blog.smarteventi.it\/#personlogo\",\"inLanguage\":\"en-US\",\"url\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/daniele-chi-siamo-150x150.jpg\",\"contentUrl\":\"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/daniele-chi-siamo-150x150.jpg\",\"caption\":\"admin\"},\"description\":\"Si occupa della parte manageriale fin dalla nascita della Smart Eventi, cercando sempre nuove opportunit\\u00e0 di business e sviluppo per far crescere la societ\\u00e0 e il suo team.\",\"sameAs\":[\"https:\/\/twitter.com\/admin\"],\"url\":\"https:\/\/blog.smarteventi.it\/en\/author\/admin\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Actionable Steps for Starting a Successful Business - Il blog di Smart Eventi","description":"To help your business survive and thrive in a competitive environment, here are eight actionable steps to take and jumpstart a successful business","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html","og_locale":"en_US","og_type":"article","og_title":"Actionable Steps for Starting a Successful Business - Il blog di Smart Eventi","og_description":"To help your business survive and thrive in a competitive environment, here are eight actionable steps to take and jumpstart a successful business","og_url":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html","og_site_name":"Il blog di Smart Eventi","article_published_time":"2017-08-01T00:00:00+00:00","og_image":[{"width":730,"height":304,"url":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg","type":"image\/jpeg"}],"twitter_misc":{"Written by":"admin","Est. reading time":"6 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Organization","@id":"https:\/\/blog.smarteventi.it\/#organization","name":"Smart eventi srl","url":"https:\/\/blog.smarteventi.it\/","sameAs":[],"logo":{"@type":"ImageObject","@id":"https:\/\/blog.smarteventi.it\/#logo","inLanguage":"en-US","url":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/logo-smarteventi-2-1.gif","contentUrl":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/logo-smarteventi-2-1.gif","width":960,"height":340,"caption":"Smart eventi srl"},"image":{"@id":"https:\/\/blog.smarteventi.it\/#logo"}},{"@type":"WebSite","@id":"https:\/\/blog.smarteventi.it\/#website","url":"https:\/\/blog.smarteventi.it\/","name":"Il blog di Smart Eventi","description":"","publisher":{"@id":"https:\/\/blog.smarteventi.it\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/blog.smarteventi.it\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"ImageObject","@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#primaryimage","inLanguage":"en-US","url":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg","contentUrl":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg","width":730,"height":304,"caption":"successful business guest post garret norris"},{"@type":"WebPage","@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#webpage","url":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html","name":"Actionable Steps for Starting a Successful Business - Il blog di Smart Eventi","isPartOf":{"@id":"https:\/\/blog.smarteventi.it\/#website"},"primaryImageOfPage":{"@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#primaryimage"},"datePublished":"2017-08-01T00:00:00+00:00","dateModified":"2017-08-01T00:00:00+00:00","description":"To help your business survive and thrive in a competitive environment, here are eight actionable steps to take and jumpstart a successful business","breadcrumb":{"@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Blog","item":"https:\/\/blog.smarteventi.it\/en"},{"@type":"ListItem","position":2,"name":"Actionable Steps for Starting a Successful Business"}]},{"@type":"Article","@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#article","isPartOf":{"@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#webpage"},"author":{"@id":"https:\/\/blog.smarteventi.it\/#\/schema\/person\/4afc330a6a8aaef78c6b6b3574cf7d59"},"headline":"Actionable Steps for Starting a Successful Business","datePublished":"2017-08-01T00:00:00+00:00","dateModified":"2017-08-01T00:00:00+00:00","mainEntityOfPage":{"@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#webpage"},"wordCount":1259,"commentCount":0,"publisher":{"@id":"https:\/\/blog.smarteventi.it\/#organization"},"image":{"@id":"https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#primaryimage"},"thumbnailUrl":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/success-business-guest-post-garret-norris.jpg","keywords":["business growth","business hacks","business in italy","marketing"],"articleSection":["Guest post","Smartips"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/blog.smarteventi.it\/en\/actionable-steps-starting-successful-business.html#respond"]}]},{"@type":"Person","@id":"https:\/\/blog.smarteventi.it\/#\/schema\/person\/4afc330a6a8aaef78c6b6b3574cf7d59","name":"admin","image":{"@type":"ImageObject","@id":"https:\/\/blog.smarteventi.it\/#personlogo","inLanguage":"en-US","url":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/daniele-chi-siamo-150x150.jpg","contentUrl":"https:\/\/blog.smarteventi.it\/wp-content\/uploads\/daniele-chi-siamo-150x150.jpg","caption":"admin"},"description":"Si occupa della parte manageriale fin dalla nascita della Smart Eventi, cercando sempre nuove opportunit\u00e0 di business e sviluppo per far crescere la societ\u00e0 e il suo team.","sameAs":["https:\/\/twitter.com\/admin"],"url":"https:\/\/blog.smarteventi.it\/en\/author\/admin"}]}},"_links":{"self":[{"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/posts\/14659"}],"collection":[{"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/comments?post=14659"}],"version-history":[{"count":0,"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/posts\/14659\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/media\/14660"}],"wp:attachment":[{"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/media?parent=14659"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/categories?post=14659"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.smarteventi.it\/en\/wp-json\/wp\/v2\/tags?post=14659"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}