Business creation steps – I have an idea for a new business

Do you have an idea for a project but don’t know how to go about making it a reality? Browse the questions below and answer them honestly. It’ll help you see things more clearly!

Step 1: Clearly define my idea

  • Can I explain my idea simply?
  • What products or services do I want to sell?
  • Who will my future customers be?
  • Will I be taking on a partner?

Step 2: My idea and me

  • Why do I want to start my own business? Is it to be my own boss? Being independent? To take on responsibility? Entrepreneurial spirit? To make a dream come true?
  • Do I have the skills needed to set up my own business? Accounting? Management? In marketing?
  • Does this project suit my tastes? My personality? My personal constraints? My experience?
  • Am I ready to commit myself fully to this project?
  • What do the people around me think of my project?

Step 3: Project constraints

  • Are there any regulatory constraints? Do I have a settlement permit? Do I need a specific diploma?
  • Do my products or services already exist?
  • If so, how will I differentiate myself?
  • Where and how will I sell them?
  • Is the project affordable?

Once you’ve answered these questions, and you’re still determined to set up your own business, it’s time to do a little market research!

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