The 10 errors to avoid when you launch your business

Do you have a business project in mind, but also the stress of making mistakes? It is totally legitimate and common among future entrepreneurs. So to prepare your launch well, here are the 10 most frequent faux pas to avoid to maximize your chances of success.

💡 What are these mistakes not to make?

Each year, many entrepreneurs enthusiastically embark, but many must quickly stop their activity. By knowing the traps to go around, you can lay solid foundations for the growth and sustainability of your business. As promised, here is our list of errors to avoid by launching your activity.

Error n ° 1: Do not carry out a market study

👉 get started without knowing your market or competition

Yes, it can appeartRe unthinkable and yet it is tempting, because not to do a market study precisely and pushed, it is to save time but … Besides, when you start with a 1st project, the dead end is quickly made . Yet skipping this complex step can lead you to offer products or services that do not interest your target audience, and dedicate your launch to failure. Do not forget, your target is not you. Your products or services meet very specific issues, needs and personas. Knowing them is essential!

The consequences are fatal:

  • Poor demand for demand.
  • A risk of fast failure for lack of customers.

Take the time to analyze your market, study your competitors, use tools like Google Trends or perform surveys to adjust your offer.

Error n ° 2: badly choose your legal status

👉 opt for an unsuitable status that does not correspond to your professional and personal profile

For example, you opt for micro-enterprise while a SAS would be more advantageous for your activity. Indeed, in microphone, the charges are estimated by applying a percentage to your turnover. Conversely, in SAS, we deduce the loads to the real. This means that your tax result, therefore your tax, decreases in proportion to the increase in your charges. So in some cases it is really beneficial to choose the SAS status to get started optimally. This is also the case if you touch a France Work allowance (Are). The choice of your legal status has a substantial impact on the amount of your allowance.

The impacts that a bad status causes:

  • Tax problems.
  • Unsuitable social charges in office.
  • Loss of money and time

🤝 We recommend that you be accompanied by a Chartered accountant specializing in business creation To choose the legal status most suited to your project.

Error n ° 3: Minor the importance of the financial forecast

👉 Start your activity without planning financial flows

Ignoring this step often leads to cash problems. Revenues, expenses, suppliers, purchases or rents for your premises,

What repercussions for your entrepreneurial activity?

  • Difficulties in paying your charges
  • A risk of premature closure

We advise you to develop a full business plan, incorporating a specific financial forecast. To do it and get an expert look, the help of a chartered accountant can be precious. This will help you anticipate all of the charges due by your business, including social security contributions linked to your remuneration whose contributions calls are often difficult to anticipate for creators.

Error n ° 4: neglect administrative formalities

👉 think that the steps will be secondary

The observation is often without appeal: forgotten or poorly filled documents can delay the launch of your activity and hinder your associated forecasts. Timings of declarations and creations are precise and must be held in time, prepare this upstream well via retroplanning.

What are the repercussions for poorly managed formalities?

  • Risk of sanctions
  • Administrative blocking

Find out beforehand about compulsory formalities and plan to entrust this part to a professional (a specialized lawyer for example).

Error n ° 5: do not anticipate financing needs

👉 underestimate the necessary capital

Precarious management of financial needs can slow down your growth. Be well aware of possible financial levers: public aid and subsidies, bank loans, investments and fundraising, tax systems (Research tax credit (CIR), Innovation Tax Credit (CII), Crowdfounding, Personal Contribution and Savings , partnership with large companies and networks …

What are the immediate results of a lack of funding?

  • A lack of resources (financial, material, etc.) to develop your activity.
  • Difficulties in honoring your commitments (deliverable customers already quoted, etc.).

Plan a sufficient financial reserve and explore all the financing options mentioned.

Error n ° 6: getting started alone without surrounding yourself with partners or experts

👉 Make a horseman alone

By leading everything in solo, you risk wasting precious time on tasks that others could manage effectively and with know-how. Your time is precious and must be dedicated to your heart of activity to gain sustainability.

What are you exposed when you undertake alone?

  • Intense isolation
  • Less relevant decisions.

Solution

Surround yourself with mentors, strategic partners and experts (legal, financial, etc.) and participate in network, physics or digital times. Exchange with your peers to have wise and enlightened advice on specific points.

Error n ° 7: ignore the accounting and tax obligations

👉 think that anything can wait, especially the first year

Accounting or tax oversights can cause heavy penalties. Founding fines, increases in the event of errors … In short, enough to sleep serenely. So open emails, mail and answer your accountant’s calls!

What are the repercussions of these shortcomings?

  • Fines
  • Tax rectification

Put rigorous accounting management from the start. With the support of a chartered accountant, hold Your accounting with regularity. With him, plan the deadlines to avoid delays and set up suitable tools to devote as little time as possible.

Error n ° 8: neglect the communication and visibility of your business

👉 Do not define your marketing strategy

It is an essential course to prepare your strategy: without visibility, even the best offer can remain unknown. You have to talk about yourself, physical or digital, depending on your targets and the channels it favors for information. Communication actions (advertising, membership of networks, sponsorship, community management) that you will set up the first year will allow you to obtain customers more quickly the second year.

Do not set up communication techniques exposes you to:

  • Low notoriety and therefore generalized reluctance for your prospects and suppliers
  • Difficulties in attracting customers every month

Develop a solid online presence (website, social networks) and invest in suitable marketing campaigns. Is your target on Tiktok? Favor this channel even if it means opting for training or delegating this part to an expert in the matter.

Error n ° 9: Set unsuitable prices

👉 overestimate or underestimate your prices

Poorly adjusted prices can scare customers flee or harm your profitability. Too weak or too high, an imbalance can create a feeling of distrust and therefore do not convert your prospects.

Defining disproportionate prices is:

  • Create a loss of customers or income
  • Have difficulty covering your costs

Analyze the market (we talked about it from the start) and establish competitive prices, while ensuring sufficient margin for your profitability. Make an advanced prices survey by your colleagues so as not to be on the sidelines of the market.

Error n ° 10: forget to define clear and realistic objectives

👉 Navigate without precise CAP, day by day

It is essential, without a clear and staggered vision, it is easy to get lost and waste resources. Prepare your development plan according to your activity and its challenges (quarter, semi -annual or annual and at 3 years for example).

Do not create a schedule with deadlines is:

  • Create a lack of priorities yourself
  • Encounter difficulties in measuring your progress and your development

Define SMART (specific, measurable, achievable, realistic and temporal) objectives for each stage of your project.

Launching your business is an exciting adventure, but which has its share of challenges. By avoiding these 10 errors and surrounding you good partners, you put all the odds on your side to succeed. Remember that professional support, especially by a chartered accountant, can be decisive for the success of your project.

So, prepare yourself, and get started with confidence! 🚀🚀