INNOVATIVE BUSINESS IDEA
SUCCESSFUL BUSINESS PLAN
CHOICE OF STRUCTURE
Adopt the start-up spirit and be innovative
When creating a company, it is advisable to have a start-up mentality. This translates into a willingness to take risks and absolute confidence in the project and the idea. In this context, it is necessary to be innovative and creative in order to adapt the product or service to a completely new or newly identified need. A constant exchange between the team and a friendly atmosphere are the source of this creativity, reactivity and permanent innovation. It is therefore essential that the company manager is able to offer all this to the employees.
Hire the best and know how to mobilize them
To make the start-up work, you need to build a team composed of the best people in each discipline, especially managers. And to achieve this, it is important that business leaders know exactly what skills they are looking for. And if they manage to find the rare pearl, the company must manage to keep them, by developing assets other than an interesting salary: a good working atmosphere, a decent salary, etc. But beyond that, you need to know how to mobilize the staff by sharing information with them and keep up a dialogue with them.
ASSESS YOUR FINANCIAL NEEDS
Even before the business is started, it is important that its financial needs be analyzed. The financing plan therefore clearly indicates the initial investments, the initial cash flow and the working capital requirement (WCR).
SETTING UP MANAGEMENT CHARTS
Accepted and understood dashboards are an indispensable and important tool in business management. They allow the monitoring of the financial health of the company as well as the follow-up of the objectives on the economic, physical, human and project levels.
CUSTOMERS AND SUPPLIERS
Entrepreneurs from any part of the world should ensure the development of their companies. All the managers must apply a good customer and supplier management policy and must diversify their suppliers and customers as well.
Going global from the start
In today's fiercely competitive environment, a company taking its first steps must think about having an international scope, regardless of its sector of activity. The best place to start is the beginning and it's definitely true for a startup going global.
Outsourcing unproductive tasks
In order to be able to concentrate more on its core business, companies are invited to subcontract non-productive tasks. For example, accounting and payroll management can be outsourced to an accounting firm.
Raising funds is not mandatory
To get off to a good start, a micro-enterprise or larger company does not necessarily need to raise funds. Indeed, it is possible that the contributions of the founders may be sufficient to meet the initial financial needs.
Much more than production tools or financial means, human resources are the first strong point of SME, a VSE or a multinational company. Entreprise Conseil will tell you more about the requirements of each one. It is therefore essential that the head of the company is able to develop the skills of his employees. To do this, it is necessary to achieve the SMART objectives and to ask everyone to give feedback.
Defining SMART objectives
The company can therefore adapt its marketing strategy to SMART objectives, i.e. Specific, Measurable, Acceptable, Realistic and Time-defined. This allows for an approach with well-defined parameters and transparent communication with customers, suppliers, partners, administrators, etc.
Giving feedback: an art in business
Within companies, feedback is becoming more and more important. It allows the person to grow and build himself or herself. It should be noted that there are 3 types of feedback, namely positive feedback, corrective feedback and feedforward. The presence of a benevolent state of mind is important.