Starting out as self-employed? Do market research!

You've made the decision to start self-employment. Great! The next step is putting the plan on paper. Actually, another step precedes this: market research. A concise roadmap for the beginning ZP'er.

Market Research

Start researching whether there are more Independent Professionals active in your field and region. It makes quite a difference whether there are only a few or dozens of competitors. For such a research you had to hire an agency ten years ago, but now thanks to Google Maps you can very quickly see how many entrepreneurs in your region are active in your field. Just key in your profession or type of business on the map in the search field and within seconds the results will be visible. The Internet makes starting out self-employed a lot easier!

If you want formal confirmation, you can of course go to the Chamber of Commerce and request a listing there. Online might be just as easy. Make a sound competitive analysis, including a strength/weakness matrix.

Funding

Do you still consider yourself promising? Then it's time to look seriously at financing. The financing plan is actually part of your business plan. A handy tool for this is the Business Model Canvas.

Make a realistic budget - which should include things like housing, transportation and any material costs to be used.

Register with the Chamber of Commerce

When it is clear how you can get financing (inheritance, family, friends, others), it is time to formalize the business. This depends on the form of business you choose - many self-employed people work together in one legal form or another (see diagram below). If you are the sole owner, all you have to do is take yourself to the Chamber of Commerce to register your business. Of course, you have thought carefully about the business name and researched whether there is not someone in the same profession with an identical name. After all, you wouldn't be the first to find that out only upon registration!