how to start a business
Tip number 1: I don't go it alone to get rich quickly.
A majority of young entrepreneurs have still not stopped believing in fairy tales and the heroes of our childhood. In love with the beautiful sagas, they read and listen with a touch of devotion to the glowing portraits of mythical entrepreneurs painted by the media as part of the popularisation of the entrepreneurial spirit. Presented as modern-day knights who have swapped the quest for the Grail for the ultra-fast accumulation of millions of euros, these legendary entrepreneurs are thus magnified to show that fortune is accessible to those who want to take the trouble. Let's be reasonable. If there are a lot of conscripts, there are very few chosen ones. For a dozen or so rapid enrichments, there are countless bankruptcies of creators who have chosen the wrong path, fascinated by the lark mirrors placed along their path, and one can be perfectly happy without being preoccupied daily by the search for an even bigger chest to store one's ingots. Enrichment can be a consequence, it is never a goal, but it does not mean that you have to prepare yourself for long-lasting life in lean times. Even if the pursuit of wealth is not the main objective, it is quite comfortable to have a regular and sufficient income to meet one's needs and build up some reserves. With a good business model that is properly built, you can make a significant improvement in your daily life.
Tip number 2: I no longer hesitate to express my talents and develop my own qualities
The multiplication of procedures is quite revealing of the chronic lack of trust of the management layers towards the company's executives. For several decades now, management gurus have been rightly recommending the development of "empowerment". This rather expressive Anglicism refers to an effective transfer of power of action and decision making, a form of a delegation that is already being implemented and which frightens many managers. This is a form of a delegation that many leaders are afraid of, and they are trying to frame it with ever more restrictive procedures. The multiplication of procedures in companies acts as a genuine "Denver hoof" placed on the driving wheels of innovation. Let us never lose sight of the fact that the verb "to innovate" cannot be conjugated without giving oneself the freedom to break the established rules. Once freed from most of these unfounded procedures, the independent entrepreneur will avoid referring to them by an acquired automatism, a conditioned reflex, to unleash his innovation capacities. Linus Torvalds, the initiator of the Linux system, the flagship of open source software, explained the success of a definitive formula: "No method!". Work organization specialists use the metaphor of the "bazaar" to refer to how the Linux system was developed, compared to the more classic "cathedrals" set up by commercial software engineering companies. It's up to everyone to judge...
Tip number 3: I will succeed because I have a persevering nature without being stubborn.
It's so easy to forget that a day is only twenty-four hours long that we sometimes let ourselves go and prepare work plans that are far too ambitious. This is also the way to get involved in the craziest projects. Once the contract has been signed, long working days await us. The basic premise is that any deadline that is announced lightly becomes a contractual objective, and the client or partners have confidence in your professionalism. The customer or partner trusts in your professionalism and takes the announced deadline as a given, which is a firm and reasonable commitment for them. Anyone who, swept away by the euphoria of the moment or overconfident in his or her abilities, has given free rein to his or her optimism in announcing deadlines that are impossible to meet, will have a hard time. Every time he takes a look at his schedule, he will experience a real moment of anguish, convinced of the impossibility of meeting his commitments, at the risk of disappointing his client and lastingly damaging his reputation. One might assume that these are only beginner's mistakes, and that experience teaches us wisdom. Unfortunately, this is not always the case. The desire to complete a project can be so strong on some occasions that the most basic rules of prudence are forgotten. The experience gained over the years is mysteriously put on hold to give way to seemingly unassailable optimism. A bit of hindsight, the time to regain one's capacity for reasonable and reasoned judgment, is necessary. Think before you commit yourself, this is a common-sense recommendation that can never be repeated enough. Note: In this short presentation, we only address the situation of the contractor who underestimates deadlines. Anyone who assumes his skills and commits himself to a project that is too difficult for him will experience the same disillusionment.
Tip number 4: Now that I am an independent entrepreneur, I bring "real value" to "real customers".The only viable business is one that brings real value to the target customer segment. The entrepreneur knows that he or she only lives from his or her customers. If they are to continue to buy the services or products provided, it is essential that they are interested in them. This statement, which may seem obvious, should be used as a reference to judge the validity of the actions undertaken in the service of the company. It is indeed the best way to avoid getting bogged down in work and expenses that ultimately prove to be counterproductive. For each development or improvement idea, it is wise to ask yourself the following three questions:
- Will it is useful to improve my rate of conversion of prospects into customers?
- Will it is useful to improve customer loyalty?
- Will it is useful to increase my customer base turnover?
A beginner might be tempted to add a pre-set question to this brief screen: will it be useful for attracting the interest of prospects? It would be a mistake to judge the feasibility of an idea based on this criterion alone. This is how you get into projects that, although seemingly catchy on the surface, prove to be lastingly sterile. Prospects seem to be interested in the process without making the decision to buy. One will never reap the fruits of the investments made. The purpose of the company is not to find interesting ideas, but to sell a product or service. Therefore, we will limit our screening to the first three questions asked.
Tip number 5: Now that I am an independent entrepreneur, I have realized that a business model should not turn into a never-ending quest for funds. The search for financing for a project can quickly become a battleground, as investors are so reluctant to invest. The entrepreneur is optimistic. There is no doubt in his mind that the project will be a success. The investor sees the proposed business from another angle. He seeks to make the best investment without being forced to take risks. He knows full well that many new businesses never get off the ground. When the term "profit and loss" is used, he eliminates the first term "loss" and only the second "profit". To make sure that he never makes a loss, he will not hesitate to take as many guarantees as possible on your own assets. In the event of bankruptcy in his search for an interested investor, it is prudent to remember that a business project is a personal project. It is preferable to avoid inciting those close to you to make a financial commitment or to act as guarantors, at the risk of jeopardizing family and friendship ties. So leave your grandmother alone, and don't put your friends at a disadvantage. A Spanish proverb sums up the situation from the solicited side: "If a friend asks you for a loan of money, think carefully about which of the two you intend to lose: your friend or your money". Don't hesitate to explore ways of self-financing by starting at low cost and limiting investments as much as possible. Once the cruising speed has been reached, it will be time to reinvest the first profits to ensure development in total freedom. It's good to be independent that one commits oneself to the adventure of creating a company on one's own.
- Testimony of Mélanie and Jérémie, co-managers of a branded product sales depot.
"Mélanie and Jérémie have been working in the same company for almost ten years. For the past few months, the management has been making drastic cuts in staff. Mélanie and Jérémie are aware that they have been given a special place in one of the next redundancy carts. Deciding to take the lead so as not to remain on the sidelines, they are preparing a project for an individual company. After many brainstorming sessions, they finally come up with the idea. It will be a sales depot specializing in branded products. Since the crisis, second-hand products have been given a new lease of life. The observation is correct, but the idea is not very original. They launch a market study which, according to their own interpretation of the results, reveals solid potential, provided they set up in a trading area free of direct competition. In the meantime, they set up the business plan, then solicited all the banks of their region, without much success. The banks are cautious at present. They are also clear-sighted and note at a glance that it is a difficult project. After many peregrinations, they come back empty-handed and disappointed. Rather than reconsidering the feasibility of their project, they remain stuck on the question of funds. They decide to pool their personal savings and Jeremiah's mother agrees to give him part of the inheritance in advance. However, the sum collected does not allow them to buy the stock and to take out a lease in a shopping street. They forgot the recommendations of the market study and opted for premises located in a secondary street, completely out of the trading area. They set aside part of the budget for a few marketing operations, to initiate word-of-mouth, which is the only way to attract customers. But this is not enough. For potential customers to turn away from their usual places of purchase and make the effort to visit this shop, they still need to know how to find an original and interesting offer. Mélanie and Jérémiene still don't offer a clear competitive advantage. As it was foreseeable from the beginning, the deal does not last. They filed for bankruptcy a few months later.
Tip number 6: Now that I'm an independent entrepreneur, it's in my best interest not to be left alone.
In a company, it is not difficult to find one's place within a formal relational network. As soon as you take up your post, you become part of a team and establish indispensable relationships with the other players in the company, if only for service obligations. Then, the chemistry makes the difference, and compatible personalities form more personal, intimate relationships. Once self-employed, it is up to each person to make the effort to launch the actions to build their professional network, at the risk of remaining totally isolated. Whatever the activity involved, it is hardly possible to carry out one's office properly without establishing close relationships with other professionals exercising a similar or related profession. This is the only way to stay in tune with one's profession and the expectations of clients. It is also an opportunity to compare impressions, compare knowledge and build partnerships to respond to more substantial offers. In short, participation in a professional relational network is imperative when it comes to self-employment.
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Tip number 7: As I want to make a long-living from my new activity, I avoid the complicated and I look for simplicity.
In a dynamic of professional improvement, the continuous search for simplicity is probably the best guide to approach a certain idea of perfection. Simplicity is not synonymous with ease, far from it. It is not easy to make things simple. Simplicity is rather the antidote to the complicated. nor is seeking simplicity the same as reducing the complex by applying a simplistic scheme. on the contrary, it is eliminating the superfluous, which masks the relationships between the components, to identify and highlight the fundamentals, the primary structure of things. It is an effort of synthesis that requires the elimination of all noises that hinder understanding or impede realization. The search for simplicity is essential at all levels of professional action. Whether it is to introduce oneself, to integrate partner networks, to build one's business model, or to realize a product or service, one always chooses the path of simplicity. The documents are clear and the arguments are brief and precise. The interlocutor effortlessly understands the message communicated. Paradoxically, it sometimes happens that you are in business with clients or partners who are particularly inclined to favor solutions that are a little over-ornate. They likely think they are giving value to their problem, which can only be original and therefore difficult. Intuitively, they confuse simplicity with ease. It will then be difficult to propose a solution and justify its price without engaging in real educational work. In this case, "making it complicated" is much more selling...
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