1. Carefully prepare your business plan.
Your business must be based on a feasible project, and perfectly designed.
If you embark in a highly competitive industry, it will be sure to bring your future customers something they can not find elsewhere and therefore make your product - or service - indispensable.
But studying the market is not enough. It is also necessary that your business allows you to clear the turnover. Unless of course you count on raising funds but that is another subject that totally escapes my field of expertise.
2. See more specialists before you start.
Before you run out and start your business, it is best to consult experts to validate your project, and also to help you choose the most suitable status for your project.
The first thing to do will be to go and knock on the door of the ICC you depend on and make an appointment with a counselor. It will help you determine whether your creative project is viable.
Then, for all practical details, it is better to see more accountants, not to ask for a quote. They will charge you anything and they will advise you on the most suitable status for your business.
Your business must be based on a feasible project, and perfectly designed.
If you embark in a highly competitive industry, it will be sure to bring your future customers something they can not find elsewhere and therefore make your product - or service - indispensable.
But studying the market is not enough. It is also necessary that your business allows you to clear the turnover. Unless of course you count on raising funds but that is another subject that totally escapes my field of expertise.
2. See more specialists before you start.
Before you run out and start your business, it is best to consult experts to validate your project, and also to help you choose the most suitable status for your project.
The first thing to do will be to go and knock on the door of the ICC you depend on and make an appointment with a counselor. It will help you determine whether your creative project is viable.
Then, for all practical details, it is better to see more accountants, not to ask for a quote. They will charge you anything and they will advise you on the most suitable status for your business.
3. Choose the right status.
And it comes at the most delicate point of the choice of status. All your contributions will depend on that and say it is much better to think carefully before making a decision.
The big problem here is that there is no perfect answer. Self-business is well to test an idea or to start as a consultant, but it will quickly show its limitations. Its biggest flaws, in my view, is that it does not allow to deduct its expenses, or even recover VAT. Which can be very problematic when you sell services and products.
A sole proprietorship is a good status, unless you plan to hire. SAS and SARL are interesting, but not necessarily at the start and even less if your turnover does not fly very high.
4. Build you a little starting capital.
Except in exceptional cases, a company needs time to grow and there will inevitably be more difficult than other months. Sometimes you will also have to deal with contingencies and you'll need cash.
It is essential to put some money aside to deal with all the obstacles.
Without it, you could focus on your money problems and move away so that should be your priority is the development of your business and business management. Which could have disastrous consequences, of course.
5. Use the right solutions to manage your accounts.
Whatever your status, you will always need a solution to manage and track your accounts. In theory, it is quite possible to settle for a paper record, but it would probably be a big mistake to rely only on it.
These are obviously not the solutions that are missing and everything obviously depends on your status.
As for me, I stopped at a service that some of you know maybe since it is Monae. It allows me to track my purchases and my sales while accessing comprehensive statistics that help me put my work into perspective and put my finger on what is going well and what is worse. All with automatic backups to my Dropbox.
6. Prepare for the future.
This is probably the most difficult to do. Starting a business requires so much energy and investment it is sometimes difficult to step back and think over the medium and long term.
Yet it must be done. The truth is that nothing is ever acquired and everything can quickly switch if you are not able to anticipate problems and market fluctuations. That, and also everything that is related to the payment of your expenses and various associated taxes.
Auto-entrepreneurs, for example, are no longer exempt from CFE if no sales deal. And other statutes, it is not better. They must indeed not forget that the biggest contributions will fall in the third year of the activity. That is, they will have an incentive to put money aside if they do not want to be in a very uncomfortable situation.
And it comes at the most delicate point of the choice of status. All your contributions will depend on that and say it is much better to think carefully before making a decision.
The big problem here is that there is no perfect answer. Self-business is well to test an idea or to start as a consultant, but it will quickly show its limitations. Its biggest flaws, in my view, is that it does not allow to deduct its expenses, or even recover VAT. Which can be very problematic when you sell services and products.
A sole proprietorship is a good status, unless you plan to hire. SAS and SARL are interesting, but not necessarily at the start and even less if your turnover does not fly very high.
4. Build you a little starting capital.
Except in exceptional cases, a company needs time to grow and there will inevitably be more difficult than other months. Sometimes you will also have to deal with contingencies and you'll need cash.
It is essential to put some money aside to deal with all the obstacles.
Without it, you could focus on your money problems and move away so that should be your priority is the development of your business and business management. Which could have disastrous consequences, of course.
5. Use the right solutions to manage your accounts.
Whatever your status, you will always need a solution to manage and track your accounts. In theory, it is quite possible to settle for a paper record, but it would probably be a big mistake to rely only on it.
These are obviously not the solutions that are missing and everything obviously depends on your status.
As for me, I stopped at a service that some of you know maybe since it is Monae. It allows me to track my purchases and my sales while accessing comprehensive statistics that help me put my work into perspective and put my finger on what is going well and what is worse. All with automatic backups to my Dropbox.
6. Prepare for the future.
This is probably the most difficult to do. Starting a business requires so much energy and investment it is sometimes difficult to step back and think over the medium and long term.
Yet it must be done. The truth is that nothing is ever acquired and everything can quickly switch if you are not able to anticipate problems and market fluctuations. That, and also everything that is related to the payment of your expenses and various associated taxes.
Auto-entrepreneurs, for example, are no longer exempt from CFE if no sales deal. And other statutes, it is not better. They must indeed not forget that the biggest contributions will fall in the third year of the activity. That is, they will have an incentive to put money aside if they do not want to be in a very uncomfortable situation.
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