Starting a business is an exciting adventure. You will work a lot, learn a lot. You will meet people you would probably never have met in other circumstances. You will imagine concepts, products, services. You will familiarize yourself with the terms “market research ”,“ Business model ”,“ business plan ”,“ prospect ”.
Above all, you will encounter new challenges almost every day. You’re going to have to find solutions and turn every problem that presents itself into an opportunity. You will have to question yourself often, appreciate your qualities, your lacks and the possibility of training yourself. You will have to measure your strengths and weaknesses, call on partners and funders to convince them of the validity of your project.
With all this, you can imagine, the creation of a business is fairly complex alchemy between the project leader, the environment, the market, the choice of the idea, the moment of implementation. Success or failure is based on little. A good idea here will prove catastrophic elsewhere, a good idea here and elsewhere will develop differently depending on the team in place …
If there is no magic formula, it is nevertheless possible to determine the prerequisites essential to a possible success and to put the maximum of chances on his side.
In this article, we will explain the different steps to be taken to successfully start a business and give you some advice.
Let’s start with some basics. You have decided to get started in entrepreneurship… You will therefore have to learn to speak the “language of entrepreneurs”, the one that your future partners and the funders who are likely to believe in your project also speak.
For example: what is the business model? What is a business plan? What is market research? What is the customer segment?
Have you familiarized yourself with the vocabulary of the entrepreneur? Perfect. Now, take a look at what awaits you in terms of the work to be done, the studies to be carried out, the documents to be produced. Because no, you will certainly not get started immediately, nor start setting up your premises tomorrow.
Starting a business is first and foremost a reflection phase during which you will transform your initial idea into a product or service that a specific audience is ready to buy. And it doesn’t happen with the snap of a finger!
Launching your business is not easy. and you shouldn’t forget anything or neglect anything. In this article, we offer you a memento to see, at a glance, all the stages of business creation and the approximate duration of each of them.
Depending on your project, some steps will need to be added. However, whatever your project, none should be neglected! You may need more or less time, but everything must be done.
For each step, visualize at a glance:
Obviously, everything depends on the project. Your advisor will be able to adjust this schedule with you.
You can never be completely sure that the business you create will find its customers. Despite the studies, despite the anticipation, despite the advice of professionals, the chemistry may not take hold. However, it is possible to reduce this risk considerably by preparing correctly for its launch, by thinking about its strategy, and by keeping in mind the following tips.
Whatever the project, its size, its objective, you will not be able to succeed alone. This doesn’t mean you have to have associates, but at least allies, people you can trust, people who can support and advise you.
Likewise, you will not be able to succeed if you do not know where you want to go: you must have a clear idea of what your business will be like in one year, two years, three years … even if things change. If you don’t have a heading, you won’t get anywhere.
You will “become one” with your business. You will devote your energy and your resources to it. You must therefore take pleasure in managing and developing it. For that, the idea that you carry must correspond to your personality, your values, your ambitions, your objectives. and not only your competences: competences, it is acquired, passion, no!
To make money, you have to sell enough. To sell, you need customers, enough customers. To have customers, you have to sell what the customers want! What customers want to buy are solutions that meet their needs, solve their problems or bring them pleasure.
There is no such thing as a “good” or “bad” business model. There are only unsuitable or insufficiently innovative business models. As with all the steps: theoretical assumptions are made and they are checked in the field.
Reflection is important, the action is essential! What is your manufacturing strategy? Of distribution? Communication? Loyalty? It is the execution that will make your business successful!
Your activity must earn you enough to pay you sufficient remuneration, have the capacity to invest. This means selling at the right price, to a sufficient number of customers, with controlled expenses.
You must of course optimize your financing plan, define the best financing strategy for today and tomorrow, in complete safety.
With your Chamber of Commerce and Industry, you will have access to tailor-made support and all the resources you need, in particular, the network of CCI partners, experts and funders.
Are you determined to get started? If necessary, assess your level of determination with our quick test! Determination is essential, but perseverance is the ultimate weapon!
Finally, to end this overview, and before you dive into the concrete with the idea of business creation, the market study and the business model, we invite you to listen to the testimony of several entrepreneurs. They share with you their feelings about starting a business and the project they have carried out, as well as their tips and advice for success.
Also Read: Business Strategy: Design, Strategy & Structure Of Businesses
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