What is a Startup The Modern Geek

What is it a Startup ?

The world of entrepreneurship is booming, in France as in the rest of the world’European Union. Many entrepreneurs see the term "start-up" as a buzzword to define a start-up company. However, a start-up is a concept that has its own definition.

How to create a start-up ?

More and more people want to get into the world of entrepreneurship, especially by creating a start-up. However, in order to start on the right foot, you will need to understand what a start-up is. In the term "start-up" there is the’idea of a start-up with the use of the word "start" and the’strong growth idea in the word "up".

The concept is not based on age, size or industry. It is a project who, in the short or medium term, has a strong growth idea in the strong growth potential, uses the nnew technologies and is in a market where the risk is often difficult to assess. So it's a mistake to confuse a start-up with a start-up. Let's take the case of Twitter for example, which is not really young anymore.

But it is a start-up.

If you want to create your start-up, it will be necessary for you to look beyond the numbers. It is not just an entity that aims to make money. It is a state of mind and a vision. A start-up therefore focuses on the most important things dreams and concretely realize the ideas of its founders.

For create your start-up, you will therefore need to find an innovative idea and make a bet on the future. D’elsewhere, it’It is by betting on a quality storytelling, that you will be able to explain your vision to your financiers, but also to your collaborators, and finally to your customers.

How to finance your start-up ?

How to finance your start-up ?

Once you have found an innovative idea, you will need a financing to carry it out. This is one of the most difficult tasks when setting up your project. There are several possibilities of financing for your start-up.

1/Draw on your personal funds

Among the best ways to finance your project, it is obviously touse your own money. This type of financing is also called "boostrapping". The main advantage of this solution is that you will not have to borrow money from a financial institution. You will therefore have the opportunity to to keep control over your start-up.

Afterwards, to continue the development of your start-up, you will need to reinvest the income you will have generated.

2/Call on your family and friends

If your savings are not enough to finance your start-up, it is also possible to asking your family and friends to invest in your project. In order to limit the risks, propose to them to acquire shares in your start-up.

3/Opt for a bank loan

Obtain a bank loan is not the easiest solution. Indeed, you will have to convince your banker. You have two possibilities: the personal loan and the professional loan.

For the first case, you will get a small amount of money, but it will usually be enough to start with. The bank will be more interested in your personal situation. If you opt for a business loan, you will get a larger amount of money than if you had to pay for your own business.

But, you will have to make sure to build a solid business plan and application file.

There are other financing solutions such as organizing a fundraising event, conducting a participatory financing campaign, participating in competitions or responding to calls for projects. Everything will depend on the nature of your start-up's activities.

How to develop your start-up ?

How to develop your start-up?

After creating your start-up, it is important to ensure its development. One of the things to consider when developing your start-up is to make sure that products or services that you propose are adapted to the market. So make sure that your business matches the demands of the ever-changing market and customer profiles, not just your own needs/desires.

Develop the business of’a start-up cannot be made without a team solid. Indeed, even if you have a good idea, it is the people who work in your start-up who will ensure its success. Make sure you have a team that is as competent as possible and which has the same state of mind and the same vision that you.

To ensure the smooth running of your start-up, be sure to divide it into 3 distinct areas: the commercial area, the technical area and the administrative area. Also, make sure that you are aware of the risks involved competitive intelligence. Depending on the sector, competition can have a significant impact on the development of your project.

Finally, a strategy of’inbound marketing by yourself or by a professional will allow you to effectively target your customers.

Why insure a start-up ?

Why insure a start-up ?

It is to know that a start-up, like all the companies, includes risks. It is therefore necessary to opt for a insurance in case of problems. Take into account the risks involved:

  • To the offices
  • To customers
  • To your suppliers,
  • To your data,
  • To employees

For a start-up, it is necessary to subscribe to 2 essential insurances.

Insurance of the premises

Whether you are a tenant or the owner of your premises, subscribing to this type of insurance does not only take into account the possible damages of your business local, but also all of your materials. This is one of the basic insurances of a company.

Professional multi-risk insurance

This insurance generally covers your business equipment and goods against possible risks such as theft, water damage or fire.

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