Having a good idea is not enough to succeed. Studies of successful entrepreneurs show that they have gone through various stages that allowed them to structure their project.
The idea of creating a business can have very different origins or motives, each creator, each project manager has a different story.
An idea can come in different forms: from a conversation at the table, from know-how, from a firm conviction, from professional experience, from an innovative idea, sometimes from a simple proof...
An idea comes quickly, like lightning, or germinates in your mind over time... And then one day a combination of the idea, the desire to become a business creator and the right circumstances give birth to a project...
The new project owner then has to objectively research and develop their idea, build the most accurate (realistic) plan possible, and then put together a business creation file to bring the project to fruition.
I have a project to create my own business
First, you have thought seriously about your idea, weighed the pros and cons, discussed it with other entrepreneurs, and analyzed and evaluated the strengths and weaknesses of your project.
You have carried out a study of commercial potential (studied your market and competitors), met with potential customers, worked on the presentation of your concept and seriously assessed the various costs.
And when you have passed the project carrier phase, you enter the construction and implementation phase of your business creation project. You have several phases to go through, which will be described in this article.
Don't go on an exciting journey without being prepared - this advice can be repeated all the time, and yet some project managers create their business as a regular adventure.
If there is to be a journey, it must be carefully prepared so that the last word is not written too quickly. To give yourself the best chance, you need to:
- Finalize your project,
- Define your expectations,
- Discuss with your family members (they will need to accompany you and support you often),
- Gather all the means and tools at your disposal (skills, time, financial and material resources, possible assistance, network, etc.).
To be a project leaders is to create the DNC of your project
The advice to start by defining in a few lines the content and purpose of your project seems pretty simple, but it is very important (and not always as obvious as it seems) to be able to clearly answer the most basic questions about your own project. For example, explain:
- What is your creative project about?
- Who is your project designed for? What is your market, your clientele...? Does the product already exist in the current market?
- What need does your idea or product meet?
- What is the business model for your project?
- How will this business project differ from your direct competitors?
- Are other projects similar to yours being launched (for niche markets)?
- Does your business plan add real value?
- What does your business project provide in comparison to others like yours?
Be demanding of yourself and accurate in defining your project. Too many projects are lost because of insufficiently accurate preparation. To check the quality of your preparation, challenge your project with other entrepreneurs, present it to managers, financiers, etc.
You will see that they will inevitably point out inaccuracies, inconsistencies and even omissions. This step, which is sometimes difficult to do, is essential to the maturation of a creation project.
Thus, defining your project means laying a good foundation for your future business. It's a time to get to the bottom of things, to confront the project with reality (what problem my project solves, what market research says, what my value proposition is, how I will approach my customers, what my business model is, how I will finance the development and launch of the project).
Listening to the advice of other professionals means preparing for your future effectiveness and, above all, avoiding a certain number of mistakes.
It means realizing that entrepreneurship is a way of life not only for you, but also for those around you.
Bringing a project to maturity
Being a project manager means establishing the DNA of a project. It also involves being able to present and defend a realistic and ambitious project.
To do this, it is advisable to "practice" presenting your project to people you trust, such as contacts who already have experience with the market, product and business creation.
This little practical exercise will allow you to clarify some points of your project as the discussion progresses, as well as reassure yourself that you have mastered your topic and will therefore be more relaxed when defending it.
Through the various discussions, you may have made changes to your project, and now you can write your creative project in the final study phase.
The purpose of this stage is to list all the resources you need for your project, identify the resources you have and those you will need to acquire, development phases and short- and medium-term goals through a projected three-year business plan.
Ideally, you should create a roadmap with simple and specific goals that will guide your approach and be many small victories on your journey as a young manager.
At this point, you have already met with a practicing accountant or even a lawyer who has assured you of the feasibility of your project and thereby reassured you.
Once your roadmap is in place, you should be able to :
Present your finished project over the phone in 30 seconds, getting to the point to quickly "pique" the interest of the person you are talking to, whoever that person may be.
Then, in a more formal meeting, be able to present the project in its entirety in 10/15 minutes so that your contacts understand its interest, profitability and future prospects.
Become a project manager and future leader
Being a project leader means creating the DNA of the project. Whatever the outcome of your chosen path, the journey will be exciting, formative and enriching:
You will have to be creative, persistent, demanding, and many other qualities.
You will have to take on the role of manager, who will have an internal project mission (project adaptation, setting up operations, recruitment, management, etc.) and an external one (relationships with partners, finding funding, etc.).
This is the role expected of your future collaborators, partners, and project participants. One thing is for sure: Being a project manager is an enriching and exciting mission that is equally challenging because the future leader is often left alone, especially in small and medium-sized businesses, when faced with the need to make strategic decisions.
Once you get started, be realistic enough to be willing to adjust the project as needed. Remember that a well-prepared project allows you to respond better to the unexpected.
Create a supportive council
To avoid loneliness and difficulties in the early stages, it is helpful - even necessary - for a new project owner to create a "support council."
Consisting of 3-5 reliable people with critical thinking and diverse and complementary skills, this board will meet regularly with the entrepreneur.
- Listen to the would-be entrepreneur talk about the progress of his or her project,
- give him/her feedback, impressions, thoughts or suggestions in a sincere but demanding manner.
Don't forget to thank them; a big thank you and a small gift at the end of the year is usually enough.
It will undoubtedly be helpful later to explore the possibility of participating in entrepreneur or young manager groups, but at the initial stage of creating a project, surrounding yourself with competent and reliable people is considered sufficient.
Accompanying advice is a real plus. Formalize and seriously prepare your meetings, they should not be "friends club" type meetings, but serious and demanding chaperones, they will be a valuable help to help you realize your dream.
One final recommendation: an odd number of chaperones at these "working meetings" will allow you to get a majority vote when important decisions are made, votes that the appointed "honorary president" will express on behalf of all.
It is important for any project manager to define their business creation project, to lay out their ideas in black and white to offer a complete but summarized presentation sheet.
This presentation (on paper or in a PowerPoint file) will be very useful for briefly presenting the project to people who can help you with administrative and financial procedures.... At a glance, your key contacts will understand the purpose of your project and it will be easier for you to find the help you need.
Enlist the support of people you trust who understand the business and/or how to start a business, stay humble, and develop your project according to their recommendations. The decision to start your business is now in your hands.
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