According to a study conducted by the insurer Hiscox, business creation has increased by 208% among young people, and 37% of French people now want to set up their business. Entrepreneurship remains very attractive. Starting a business is not easy. You have to go through different stages. Here are 9 tips for starting your business.
The pandemic has not put a stop to the desire to be an entrepreneur, quite the contrary and the figures for business creation in 2020 and 2021 are very significant. According to INSEE, in February 2021, the total number of business creations of all types of businesses combined rebounded (+ 3.8% after –1.0% in January, in data adjusted for seasonal variations and working days) . Registrations of micro-entrepreneurs are on the rise (+ 5.1% after –0.4%) as well as, to a lesser extent, the creation of traditional businesses (+ 1.3% after –2.0%).
1 / Define a project
When you make the choice to start this adventure, the first step is to define your project and not just to find the idea of the century. How you implement your idea will be more critical, as the saying goes that the same idea originates in two places in the world at the same time. Your project defines what you will achieve in the future. To obtain a clear vision, do not hesitate to list your desires and ambitions to make your project as concrete as possible and that it is in line with you. Describe what you want clearly and precisely so that you can take as much distance as possible. Do not hesitate to make originality to distinguish yourself from your competitors. Create your project from A to Z!
2 / Create a business model
Once your project is well in mind, you must now define a business model or in other words answer the question: how are you going to earn money? This is one of the first things to do (although some successful companies did not originally know how they were going to make money). The latter should allow you to generate sufficient income to pay your direct and indirect charges. To find the most profitable technique, study the market well and consider the results of different ways of operating. This step is essential in the development of your business plan. Take the time necessary for its creation because it will prove useful to follow if you are behind or ahead of the expected performances,
3 / Make the activity official
Have you decided to take the plunge? Let it be known! To get to the heart of the matter, nothing better than to officially create its structure. Complete the various formalities and obtain a registration number (SIRET) as well as the legal status that suits you. You can use many sites to help you in these steps. To find all the information you may need, ask for help from the chambers of commerce and industry or trade which will provide you with what you need to assist you in setting up your business.
4 / Look for financial aid to start
Raising all the necessary funds in the early days of your business can be a challenge to overcome. Some people don’t know it, but there are plenty of financial aids for starting a business. Managing to find one’s way between private and public aid is already a difficulty, for example. To find the one that suits you, you remain the best person. Take the time to learn about all the possible help.
5 / Finance the business
Financial aid is useful, but it is not everything. Getting all the necessary funds, especially for the youngest, can be a challenge. Fortunately, there are solutions to overcome this problem. You can count on crowdfunding , business angels or even banks that position themselves on young entrepreneurs. Take the time necessary to establish a good file in the image of your company and put all the chances on your side to obtain the Holy Grail: financing.
6 / Find collaborators
Growing your business doesn’t just happen. It remains necessary to surround yourself well by finding collaborators without delay. These should help you develop your project faster and further. Take the time to get to know the people who will be part of your daily life to ensure that you share the same vision for your company and that you see the future the same. See the benefits you can reap before accepting anyone around you, because bad hiring can quickly backfire.
7 / Talk to those around you about the project
Advice is always good to take, and especially when you want to get started in entrepreneurship. Talking to those around you about your project is proving to be the best way to get different opinions and points of view. Take the time to listen to people who have experience. Pay particular attention to their failures (learnings?) So as not to experience the same ones. Do not hesitate to participate in forums or clubs to meet as many people as possible and reap the benefits.
8 / Participate in contests
Have you ever thought about participating in competitions for young designers? They turn out to be numerous and should not be overlooked. This is an excellent way to gain notoriety quickly but also to confront your project with an audience of experts. Journalists and investors remain present in this type of event. In addition to getting noticed, you can also find collaborators. Get out of the game by standing out as much as possible from other candidates. You can only benefit from participating in one of these many events. Go for it !
9 / be optimistic and have fun
Starting a business takes time and a lot of energy. You have to give of yourself to achieve your ends and in the long term. To succeed, you must not give up at each difficulty encountered. You must remain optimistic in all circumstances! Difficulties are part of everyday life, aren’t they? Always stay positive and keep moving forward. Also remember that having fun is always a factor of success. If you don’t enjoy it, it means you are doing something you don’t like. Then resume your project from the start. Make work and pleasure rhyme!
Starting a business is a real challenge. The difficulties you will face are many, but you must not give up.