Why start your own business?
Daring to be an entrepreneur has many advantages! Here are several key arguments that will help you take the plunge:
Freedom: creating your own business allows project lease administration software to become their own boss and organize themselves as they see fit. Whether it is the organization of his working hours or the way in which he manages his business strategy, by setting up his own business, he is undoubtedly gaining freedom!
A taste for a challenge: many entrepreneurs believe that having created their own business has enabled them to give meaning to their lives! Indeed, by taking on the challenge of creating a business, the entrepreneur knows that he must invest himself fully to ensure that his project becomes a success.
Creativity: by creating a business, you have the chance to develop your own idea. Whether it is an innovative concept or a childhood dream, setting up a project allows the entrepreneur to design services that are both sufficiently original and serious to attract and retain customers. .
Autonomy: when creating his own business, the entrepreneur sets his own goals and how he wishes to achieve them. He is therefore quickly confronted with decision-making. This pushes him to continually challenge his skills and gain autonomy.
Earn more money: Starting a business can allow you to earn a better living depending on your current situation! You should still know that the year you launch your project may be financially complicated and that you have to persevere to achieve financial profitability.
Good to know: making a financing plan allows you to anticipate and predict when you will achieve financial stability.
Give meaning to your life: setting up a business can be a way of doing a job that you have been dreaming of for several years and completely change your professional career. Entrepreneurship is an adventure which, if well thought out and prepared, can change your daily life and give meaning to your life!
To find out more about the good reasons that can encourage a project leader to start a business, go to our sheet which explains why you should start a business or why you should become your own boss .
Why set up a business in France?
France is an ideal country to create a company for several reasons:
France is an attractive country which inspires confidence in investors and which has a direct place in the European market;
France has universally recognized universities and schools . It is renowned for training skilled workers capable of working in areas with high added value;
Paris is the second most chosen European city by entrepreneurs who set out to create a start-up;
France is one of the G20 countries where it is easiest to set up a business . According to a study, it only takes 7 days to build a business while the average for the G20 countries is 22 days;
France has implemented a simplification of administrative procedures : beyond simplification from a legal point of view, many efforts have been made to allow project leaders to carry out all their formalities in a dematerialized manner.
How to start your own business?
Step 1- Have a business idea
Because a project is above all an idea, the first step in an entrepreneurial project is to find the right idea to create your own business. So you need to start by clearly defining your idea and listing your personal skills . It is important to understand that starting a business is not easy every day and that you will need determination and persistence. Choosing the right idea that will make you want to get started in entrepreneurship is therefore essential. To help you, you can talk about it around you, your friends and your family. Be careful not to talk too much about it and not to tell the wrong people about it because it is difficult to legally protect an idea .
Step 2- Specify your business plan
Before starting his own business, the entrepreneur must take stock of his business creation project .
Drafting the business plan is essential since it is through this that it is possible to define the business strategy of the company: setting the price of services, target customers, distribution channels, analysis of the competition, etc. . Ultimately, this helps determine an effective action plan to generate profits and develop the project.
On the other hand, it is by writing his project that the entrepreneur will ensure its relevance and viability .
Conducting a market study and a business plan is essential and allows you to determine the profile of the target clientele, to learn about your future competitors as well as to verify the viability of your project. Whether you decide to open a concierge , a bakery or launch an application, the business plan presents your project, the market, your strategy, your background, the envisaged legal structure and the financial forecasts.
To help you in drafting your project, do not hesitate to consult our business plan model . By relying on this example of a business creation project, you are sure to start from a sound basis and not to forget any step to build your project!
Step 3- Find funding
Starting your own business requires finding premises, buying equipment, paying electricity bills, paying taxes… the list of expenses is long! This is why, before getting started, it is necessary to consider the different modes of financing for business creation that exist.
When starting an entrepreneurial project, finding investors is a tedious task! To be well prepared for this task, you must know how to speak well about your project and always think about the next investments you will need. Remember that you are the representative of your project, so you must be clear, precise and convincing to make people want to follow you on this adventure! Also, your research for funding must evolve at the same time as your project. There are several types of investors depending on the progress of the project (development capital investors, risk, etc.).
The most common funding methods are:
Your personal savings ;
The gifts or loans from friends and family : generally referred to as ” love money “, this financial source comes from your inner circle that is your family, friends and friends of friends;
The bank loan ;
Crowdfunding : this financing, also called crowdfunding allows you to explain your motivations to tempt your inner circle as well as potential future investors to invest in your project.
Good to know : there are many crowdfunding platforms specialized by sector to help you find investors .
Business financing aid (ARCE, subsidies, CIR, etc.).
Before obtaining financing, you must anticipate the various expenses related to the launch of your business such as infrastructure, equipment or the cost of setting up your business. In this regard, you can freely use our simulator to estimate the costs of setting up your company.