Finance and Business

Starting a business: 10 tips to get you started

Starting a business: 10 tips to get you started

1- Ask yourself what your strengths and weaknesses are

“ When you start a business, you have to do in stages. The veritably first thing is to make a particular assessment. What are my real motivations? What are my strengths and weaknesses? Do I have the necessary diplomas and know-how? Am I a good salesperson? Will I be able to convince? Am I a good manager? A good technician?

Once this analysis has been carried out, if you have detected shortcomings, you have to ask yourself how to remedy them”, explains Laurence Piganeau, head of expertise and legal service at BPI France (public investment bank).

2- Evaluate your financial situation carefully

Before embarking on the creation of a business, carefully study your financial situation. You will probably not be able to pay yourself the first year of creation. If you still live with your parents, the best thing is to stay there a little longer!

If you are in office, you have the possibility of requesting a part-time job for business creation. This can be a solution to keep part of your remuneration.

If you have no income and no one can host you, do you have savings that will allow you to meet the first fixed costs of the business?

3- Find associates

“ youthful entrepreneurs frequently produce a design together. And they’re right, it’s a formula that works! explains Laurence Piganeau. The complementarity of chops is a precious asset when setting up a business.

On the other hand, before you start, try to ask yourself the right questions, do you all have the same vision for the company? Are you in tune with its unborn development? What place does everyone want to have there? Who makes which decision? What’s the degree of commitment in time and plutocrat of each?etc.”

4- Talk about your business creation project around you

“ Don’t start alone without having brazened your design with educated people, warns Laurence Piganeau. Learn how to listen to them and ask yourself. A business leader must have a great capacity for adaptation.”

5- Create a business: get support

It’s veritably important not to be left alone and to get help from the launch of your design. Get near to support associations similar as chambers of commerce and assiduity( CCI), chambers of trades and crafts, operation shops or specific youth networks, similar as MoovJee( see box), which offers a training system between youthful generators and educated entrepreneurs. utmost are free or supported by public support schemes.

You can also try joining an incubator or a business and employment cooperative( CAE). These structures allow you to test your life- size design without taking any pitfalls. They live throughout France.

Eventually, if you’re in contact with contractors, ask them for advice. There’s great solidarity in the entrepreneurial community.

6- Take part in competitions for young entrepreneurs

“ numerous competitions are organized for youthful entrepreneurs. Do not vacillate to share, it’s a good way to make yourself known! You’ll be spotted by the media, invited to trade expositions, broadcasts But be reactive because intelligencers are people in a hurry! You have to be suitable to respond snappily to their request, ” says Laurence Piganeau.

7- Be very professional!

Your youthful age and, no mistrustfulness, your lack of professional experience must be compensated by the soberness and professionalism with which you’ll prepare your business design.

8- Go bold (a bit…)

Take the lead! Identify the media that interest you and that can help you according to your exertion. Find the right journalist and knock on their door. Don’t vacillate to communicate entrepreneurs who could open their network to you. Join entrepreneur clubs.

9- Don’t get discouraged

It’s not easy to be an entrepreneur Creating a business takes a lot of time and energy. There will be ups and campo, some bad news and a bit of fatigue can demotivate you. But believe in your design and do not give up!

Know how to compass yourself with people( partner, musketeers, family, associates, counsels,etc.) who believe in you and know how to boost you in delicate times.

10- Know when to stop

50 companies still survive 5 times, but that doesn’t mean there are 50 failures some stop by choice.

That said, indeed a failure is positive because creating a business is an experience that will allow you to bounce back. Having set up a business, indeed if it did not work out, is a real plus in a CV. Entrepreneurship is a quality sought after by babe, ” concludes Laurence Piganeau.

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