How To Establish Strong Business

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Step 1: write your executive summary
After understanding the usefulness of a business plan, it's time to get started!

To make a business plan, the introduction must be devoted to the executive summary (or "operational summary").

The executive summary is a very short (two pages maximum) and very important part of the business plan. The objective is to summarize the essence of its business plan in a very synthetic way and to give a global vision of its project. The elements to be included are as follows: name of the company, nature of its activity, values ​​and history of the project, target audience and type of market (competitors, size, opportunities). It is often essential to introduce the management team.

Good to know: many presentation pitches are based on the executive summary. Having a grounded and impactful speech is essential to present a project in its best light.

Step 2: introduce the founding team
To create a personalized business plan, in which the values ​​of the founders are reflected, it is essential to present the training, background and skills of each member of the team. The role of each co-founder, future partners of the company, should also be specified in the business plan. It is also necessary to designate the person who will have the role of legal representative of the company and manager.

The aim is to highlight the complementarity of their respective skills in order to convince potential funders and partners of the relevance of their project.

Step 3: expose the values ​​of your project
It is essential to set out in your business plan the values ​​that drive the management team and that are the starting point for their motivation. These corporate values ​​can be the sense of service, expertise in an area or the social impact of the project.

Step 4: do market research
To develop a solid business plan, three main elements must be analyzed in the context of a market study:

Supply: you must identify the supply available on the target market. Competitors are the essential component. It is important to know how many competitors are in the market, the variety of their offer and the prices charged. Understanding their commercial and operational strategy is also essential in order to better understand the existing offer on the market.
Demand: it is also essential to carry out a careful study of your target customers, their consumption habits, their average budget, their unmet expectations, etc.
A potential market failure: the identification of one or more unmet needs by the competition makes it possible to determine the competitive advantages that can be exploited by one's business.
To identify your target market, it is best to meet customers, competitors and other market players. The rule is simple: to create my business plan, I must be able to understand the concrete expectations of my future customers.

Good to know: it is extremely rare to have no competitor. There are still some, even if it’s indirect competition. To assert this would be perceived by the funders as a weakness in the business plan.

Step 5: define your business strategy
To define a commercial strategy, many entrepreneurs use the 4P method (or “Marketing Mix”):

Price (price): it is necessary to establish a list of the offer of products and / or services of your company, the proposed formulas and to detail the prices (price list, decreasing prices ...), etc.
Product: a catalog of goods and / or services must be drawn up, with their characteristics, their differentiating advantages, the packs offered, the promotional offers, etc.
Place (distribution): the distribution strategy must be carefully defined. It is necessary to determine by what channels the company will sell its products or services (physical store, online, through distributors or other intermediaries, etc.).
Promotion (communication): this point corresponds to the communication strategy (step 6 to know how to make a business plan).
The business strategy is used to define how the company will succeed in entering the market. The communication strategy, on the other hand, allows the company to be known to its future customers.

Step 6: determine your communication strategy
Determining your communication strategy to set up a business plan allows you to:

Defining the image of your company: it is giving your own identity to your company by choosing its graphic charter (logo, colors, etc.) and commercial speech (keywords to be used to trigger the sale).
Promote your business: you must determine the channels that will be used to promote your business (creation of a website, distribution of flyers, social networks, newspapers
Don't miss a step!
Your company will be legally constituted when you have validated all the creation steps listed above: constitution of the file, deposit at the company formality center (CCI, Chamber of Trades, Commercial Court, Urssaf, etc.) and receipt of your extract K-bis.

Do not create alone.
The creation, transfer or takeover of a business are fulfilling but demanding and difficult experiences. Many ceding companies, incubator, incubator, business incubator or umbrella company managers confirm that it is more difficult to do business alone than with others.

Business creation or takeover?
There are many ways to become an entrepreneur, the most obvious for a young entrepreneur seems to be to create a business, but it is not always easy to find good ideas for starting a business. In this case, the sale of a business or the franchise can be interesting solutions.

Find financing
This is a key step for new businesses. There are many grants to help entrepreneurs build a viable business. Aid for creation (ARE, ACCRE, CICE, innovation loans, JEI status, loans, aid for innovative companies, etc.) allow certain projects to be launched. Many players help to find funding, honorary loans or surety bonds (ADIE, Entrepreneurship Network, France initiative, BPI, ... inquire in trade fairs.

Train yourself and get support
An entrepreneur must know how to find partners to get help at the right time. Starting a business or taking over a business, as well as developing a business, needs to be well supported, especially when you are a young creator who wants to start a business.

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