Compared to salaried employment, creating a business is a tempting project: you develop your own project, you decide your working hours and holidays, your prospects for growth and salary are unlimited… Do you aspire to independence? Do you like challenges? Then entrepreneurship is probably for you!
Before you start, still measure the financial risk: your business idea might not take, for example. You should also know that you are drawing a line under job security: no possible unemployment as a self-employed person! Finally, don’t forget that your remuneration depends solely on your work – and in particular on your ability to find clients…
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What is a business?
The notion of enterprise is not defined by law. When we talk about a company, we are talking about an economic activity and not the structure that carries the project.
It is your registration as an individual entrepreneur or company that authorizes you to exercise and formalizes the creation of your business. Registration, the last step in setting up a business, serves as a kind of registration with the tax services and social organizations: you are duly identified, the applicable tax can be collected and your social protection provided in return for your contributions.
But starting a business is not just registration. It is an independent activity project that includes many stages that we will see later, from the definition of your business idea to the registration formalities.
What qualities do you need to have to start a business?
Are you an entrepreneur at heart, or ready to become one? The success of your business depends on your qualities and skills. Here is an indicative list of the qualities and skills needed to create your own business:
- You are organized in your work : as a business manager, you will have to manage many subjects, in various fields. Good organization is essential so as not to forget anything and not to be overwhelmed by the magnitude of the task…
- You are a good “salesperson” : throughout the life of your business, your results depend on your ability to find customers to whom you can sell your products or services. It is for this to have abilities for marketing and communication.
- You have good interpersonal skills : beyond customers, you will have to manage the relationship with your collaborators (partners, employees, etc.). The success of a project is often built with several people, choosing those who participate in it carefully and taking care of them!
- You have unfailing motivation! The path of an entrepreneur is strewn with pitfalls, full of good surprises… and disappointments. A first failure should not discourage you, you may achieve the expected success after several disappointments…
- You are self-taught and rigorous : as a business manager, you are on all fronts. Legal, accounting, customer service, product development… unless you are ultra-versatile, expect to train quickly and well as needed. Rigor is also an essential quality: are you tempted to go on vacation every 2 months? Are you a late riser? Without you, your business is unlikely to run smoothly, be aware of this.
Of course, experience and training are a plus. Money too: having good starting capital to invest in your business creation project opens the door to valuable help. Not only can you afford to pay for expert advice, but you also have less fear of difficult month-ends – a common situation in practice during the first years of activity.