How To Start A Business

To create a business, the first step is to develop your idea to turn it into a real project . You need to get a very precise overview of your future activity:

  • What is the business model and what are your goals?
  • Where is the activity going to be take place? What type of room do you need?
  • How will you source your supplies, from which suppliers and under what conditions?
  • What will the sales process be like?
  • How do you plan to develop your clientele?
  • What are the investments to be planned in relation to the project?
How To Start A Business

When possible, it can be interesting to test your project. Wage portage, business incubators and micro-enterprises are possible solutions.

Then, we must also ask ourselves about the feasibility of the project:

  • Are you capable of leading such a project (skills, diploma, experience…)?
  • Do you have sufficient financial resources to consider starting a business?
  • Can you afford to quit your job to start a project? or, if applicable, can you combine your job with your project?
  • Have you properly measured the changes that the creation of your business will bring about in your personal life?
  • If you need other people to start your project, have you found them?

At the same time, if your project requires it, this is when you must protect your business creation project: filing a trademark, filing a patent, etc.

When the business creation project is well thought out and achievable, you can move on to developing the business plan.

How To Start A Business

How To Start A Business: Make a business plan, or a simplified forecast

The development of the business plan is not a step to be carried out systematically, it all depends on your project. The complete business plan is necessary for large business start-up projects and for those who need to raise funds. The business plan stage is sometimes quite long. This is the case when market research is important and when bigger investments are planned.

Chambers of commerce and industry as well as business creation assistance organizations can help you establish your business plan . You will also benefit from interesting support to move forward in your project.

For classic projects without significant funding, a simplified forecast is ideal. The process of producing your forecast is rewarding. It will prompt you to question yourself on several levels:

  • What is your expected turnover and when will your customers pay?
  • What are the operating costs to be expected?
  • What is the most suitable tax system in relation to your result?
  • How much are your social security contributions and when should they be paid?
  • What is the working capital to foresee at the level of the treasury to be in equilibrium?
How To Start A Business

Even if you don’t need it, we recommend that you draw up a business plan quickly. This makes it possible to materialize your financial projections and, if necessary, to have them verified by a professional. It is important to accurately estimate your future professional income.

Find the premises in which you will carry out your activity

Another important step: find the room in which you will exercise your future professional activity. Here, it all depends on your project:

  • If you don’t really need premises, you can domiciliate your business at home. This is the case, for example, if you work directly with your customers or from your home without receiving customers,
  • If you need a room, you have to do some research. To do this, you must list your criteria (surface area of ​​the premises, geographical area, necessary equipment, parking in the immediate vicinity, etc.),

The choice of local is particularly important when it is your point of sale. To open a business, the location is decisive. In order to find your place, real estate agencies and websites are essential.

It is imperative to check that the premises comply with all the standards that you must respect in the context of your activity. To find out about these standards, you can get information at the town hall.

When you have found your premises, you will have to contract a lease. This contract is very important, because of its duration and the financial commitment that results from it. You must therefore check all the clauses it contains and make sure that the proposed conditions allow you to exercise your activity in good conditions.

How To Start A Business: Complete the financing of your business creation project

After finalizing your business plan and then choosing the configuration of your future business, you have to complete the financing of your project . In this step, it all depends on your needs:

  • If you don’t need financing, you can take the next step.
  • If you finance your project yourself, all you have to do is make your contributions when the business is created.
  • If you need to mobilize external financing ( loan , aid and subsidies, fundraising, etc.), you must contact the people concerned and convince them to follow you.

For lack of sufficient funding, the business creation project must be revised or abandoned.

Carry out all the steps to start a business

After having tied the whole project (business plan, financing, local, choice of creation), it is necessary to register the company to be able then to start the activity. The creation formalities to be completed depend on the legal status of your company.

During your registration procedures, you must also obtain all the authorizations necessary for the exercise of your activity. For this, you can get information from your chamber of commerce and industry and your town hall. If your profession is regulated, you must check with the competent authority.

The steps after starting a business

As soon as the business is created, you can officially start your activity. In addition, it is necessary to put everything in place for the business to function properly :

  • Opening of the company’s bank account,
  • Implementation of commercial management (quotes, invoices, accounting, model contract, etc.),
  • Creation and online launch of a website,
  • Taking out professional insurance,
Shavvy
A creative writer with strong zest of blogging, traveling, food and wander.

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