What is a business plan?
At the very origin of your business creation, there's that famous business plan ✨
👉 A summary of your project's fundamentals, it's essential to ensure its success.
It meets several needs:
- Define the focus of your work 📊
- Present the project to third parties and convince them of its viability 🤝
The TOP 7 best practices for a successful business plan ✅
- #### Present your company 🏢
Before you even tackle the objectives and needs you want to meet, introduce your team. Show how each person can bring his or her expertise or network to bear on your project 😉
- #### Present a market study 📊
This is a very important step in proving to third parties that you know where you're going and that you hold all the cards to prove that your project is viable 🤝
Even in the case of an innovation, you need to demonstrate the relevance of your product to existing markets.
- #### Define your products and services 💭
Whether it's an innovation or you're appearing on an existing market, describing your offer allows you to highlight your added value and define the targets you're aiming for 🎯
- #### Define inputs and how to use them 🚀
Define the goals you've set yourself, and the means to achieve them. Words are not enough. Try to put a figure on a provisional marketing and communications budget, the investments you plan to make in the short term, your ambitions for geographical development... 📊
- #### Create an effective financial plan 💰
👉 Important elements to include in your financial plan are :
- Company expenses
- Sources of sales
- Executive compensation
- Employee compensation
💡 A little additional advice: enlist the help of a chartered accountant, whose experience can tell you the average costs of running a business.
- #### Choose your corporate form carefully 💡
This choice depends on your economic motivations and how you wish to develop your company.
🔔 Bear in mind that the corporate form of your company determines your tax regime. To find out more, click here. We can support you in this choice, thanks to an expert partner on the subject. Please do not hesitate to contact us.
- #### Sign a confidentiality agreement ✍️
It's often forgotten, but it's important to protect your ideas before sharing your business plan with a third party. In addition to the competitive aspect, this will give you the confidence to develop your project in detail 😉
