There are many choices of professions to make money. Become a professional, private employee, or choose to start your own business. Each choice has advantages and disadvantages. Starting a business becomes an option for some people because it has the opportunity to make a lot of money. However, starting a business has its own challenges. The following tips may help you to start your own business.
1. What are your strengths and weaknesses?
“When you start your business, you have to go step by step. The very first thing is to make a personal 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 is done, if you have detected any gaps, you have to ask how to fix it, “explains Laurence Piganeau, head of expertise and legal department at BPI France (public investment bank).
2. Evaluate your financial situation
Before you start a business, study your financial situation. You probably will not be able to pay for the first year of creation. If you still live with your parents, the best is to stay a little longer!
If you are in post, you have the opportunity to apply for a part-time business start-up. This can be a solution to keep some of your remunerations.
If you have no income and no one can shelter you, do you have savings that will allow you to face the first fixed costs of the business?
3. Find associates
” Young entrepreneurs often create a multi-project. And they’re right, it’s a formula that works! explains Laurence Piganeau. The complementarity of skills is a valuable asset when starting a business.
However, before you start, ask yourself the right questions: do you all have the same vision of the company? Are you in phase with its future development? What place does everyone want to have? Who makes the decision? What is the degree of commitment in time and money of each? etc. “
4. Create your own business with one or more partners.
Talk about your business creation project around you. "Do not start alone without having confronted your project with experienced people, warns Laurence Piganeau. Know how to listen to them and question yourself. A business leader must have great adaptability. " It's important tips to start your own business.
5. Create your own company: get yourself accompanied
It is very important not to be alone and get help from the beginning of your project. Get closer to support organizations such as chambers of commerce and industry (CCI), chambers of crafts and trades, management shops or even youth-specific networks such as MoovJee (see box), which offers a tutoring system between young designers and experienced entrepreneurs. Most are free or supported by public support systems.
You can also try to enter an incubator or activity and employment co-operative (CAE). These structures allow you to test your project life-size without taking risks. It exists throughout France.
Finally, if you are in contact with entrepreneurs, ask them to advise you. There is great solidarity in the entrepreneur community.
6. Participate in young designer competitions
“Many competitions are organized for young entrepreneurs. Do not hesitate to participate, it’s a good way to let you know! You will be spotted by the media, invited in shows, shows … But be responsive because the journalists are busy people! We must be able to respond quickly to their request, “says Laurence Piganeau.
7. Be very professional!
Your young age and, probably, your lack of professional experience must be offset by the seriousness and professionalism with which you will prepare your business plan.
8. Go to the bottom (a little …)
Take the lead! Find the media that interests you and can help you based on your activity. Find the right reporter and knock on his door. Do not hesitate to contact entrepreneurs who could open their networks. Sign up for corporate design clubs.
9. Do not be discouraged
Not easy to be an entrepreneur … Starting a business takes a lot of time and energy. There will be ups and downs, some bad news and a bit of fatigue may demotivate you. But believe in your project and do not give up!
Know how to surround yourself with people (spouse, friends, family, associates, consultants …) who believe in you and know how to reboost you in difficult times.
10. The important tips when you want to start your own business: Know how to stop in time
“50% of companies still exist after 5 years, but that does not mean that there are 50% failures: some stop by choice.
That said, even a failure is positive because a business creation is an experience that will allow you to bounce back. Having set up your business, even if it did not work, is a real plus in a resume. Entrepreneurship is a quality sought by recruiters “, concludes Laurence Piganeau.
Businesses open up opportunities to make a lot of money, but starting and running a business is also not easy. Do you agree with these tips and want to start your own business? Or may you be want to know, how to find a business idea?