Building a business is easy… but building a business that will last and be successful is a whole different story…
That’s why in this article I explain the 13 steps to launch your business, whether it’s an SME or a startup:
Step 0: Check that your idea responds well to a market…
This is not step 1, but a prerequisite.
There’s no point jumping into a project if prospects aren’t ready to buy.
Step 1: Find associates.
It may seem counter-intuitive to start finding partners from the start, yet it gives you a much better chance of success going forward.
Why ? Quite simply because we alone are overwhelmed by the subjects, we do not take a step back… and therefore the project is less likely to see the light of day. Step 2: Set up your communication media
Even if your idea is only in its infancy, you have to start now to occupy the ground, via a blog, a Facebook group…
This allows you to be recognized by your community of prospects, to create your first pool of prospects…
Step 2 – This will allow you to clarify your idea, and to know what you want to propose.
Remember that the Devil hides in the details, and it is often by going into the details that we ask ourselves the right questions.
Step 3 – Develop a prototype – The MVP
The goal is to focus on key features, and not want to make a Swiss army knife product.
Now is the time to focus on the killer feature and see what your prospects really want.
Step 4 – Make your prototype known to the first prospects and influencers (Facebook Ads, bloggers, etc.)
You have to start by testing your speech, your arguments… on a small number of prospects, and then ramp up.
Step 5 – Obtain funding
Initially you can get your first funds to launch your business, in particular with the “Love Money”, ie the money of your family and your friends for your first steps in the business.
Cash is gasoline and your engine is your business… if there is no more gasoline, the engine stalls and then stops!
Once you can prove that your product is aimed at a real solvent market, that you have your first customers… you can raise funds or obtain more financing.
Step 6 – Determine the business structure
Even if the creation of a company can wait for the finalization of your project and your first customers, it is important to think about the legal form of your company, and the distribution of capital.
Step 7 -Trade name
Accounting must allow you to be in good standing with the law (VAT, etc.), but above all to monitor your finances, and especially profitability and cash flow, etc.
Cash is the fuel of your company’s engine, if there is no longer enough to pay suppliers and employees, the company stops.