Business Plan | 60 questions to ask yourself

Today, I will present to you the60 good questions to ask yourself when creating your business plan. Here we go !

60 questions to ask yourself to create a Business Plan

Find in this video the questions to ask yourself to make abusiness plan :

Below is the support I used for my presentation on thebusiness plan :

So initially, to be completely honest with you, I didn’t necessarily want to write an article on business plans. The reason is quite simple. I’m not a big fan of business plans and I’ll tell you why.

In fact, 99% of business plans always have the same form, if we take a graph with revenue on the abscissa and time on the ordinate, we always go through the following phases: we are very poor at the start and afterwards as if by “magic”, we become very rich!

The question that arises is therefore that of the credibility of a business plan when creating a business.

Why does this simplistic approach bother me?

When you start a business, if there’s one thing that’s difficult to predict, it’s revenue levels. Simply because it is impossible to know in advance whether you will succeed in obtaining many customers or not, after how long, etc.

In other words, the only thing that we can predict more or less correctly are the costs, because with that, we can have a vision that is a little finer and a little more realistic.

On the other hand, for income, objectively, even if you base yourself on statistics, even if you base yourself on market phenomena or trends, these will always be big approximations.

This is why often when people talk to me about a business plan, I tend to take a step back and say to myself “Okay, what are they going to tell me now? “.

So why did I finally decide to write an article about it?

I decided to write today about business plans for a simple reason. I had the opportunity to read an article from Express Entreprise called “Business plan, the 60 questions to ask yourself to develop it ». 

And actually, I thought this article was really well done. For what ? Quite simply because this article allows you to ask yourself some really good questions.

Indeed, beyond a simplified curve as I was able to show you before, a good business plan or rather a good way of making a business plan, is above all the fact of asking the right questions, and therefore, to defend your project more effectively to a banker, a business angel or an investor.

These different questions will allow your investors, partners or financiers to see that you have understood all of the different parameters necessary to set up your business.

So, I decided to play the game as well.

The 60 questions I am going to ask myself and make sure to answer them for my business concern SEO advice.

On commence !

These 60 questions to ask yourself for your business plan will be organized into 6 main parts:

1. The market
2. Your profile
3. The team you will form
4. The commercial marketing strategies you are going to undertake
5. Protect your know-how and your product
6. Find funding

I would like to make two comments before we begin the round of questions.

Obviously, certain questions will be more or less conducive to my activity. Indeed, to the extent that I am going to launch an activity in SEO consulting, do not be surprised if I quickly go over certain questions which will be more linked to industrial companies.

Second point that I would like to mention, the opinion or rather the perspective that I am going to give you will be perfectly “personal” and “subjective”. For example, in my current situation, I will not immediately need financing to start my business.

Indeed, I have personal resources and I am not going to spend thousands and cents in any case, so I am not going to call on a banker or an investor. Therefore, my perspective is going to be a little biased.

The objective of your business plan is to try to seduce, to show a “white paw” to an investor to try to convince them that you know what you are talking about, and you know in which direction your business is going.

Come on, let’s start!

First of all, we will talk about market-related issues.

A) The market

Having a good understanding of your market, the players and what your customer wants is essential. This is the first part, one of the most important from my point of view. So first question,

1) How big is your market? Is it local, national or global?

The size of the market is indeed important. Quite simply, because there are markets that are really small and where we can’t do much. Then, there are markets that are huge and sometimes that can be scary.

To the question, “Is it local, national, global?” “.

Objectively, if you start your company, don’t say to yourself from the start “I am a company that is global”. If you can become a “global” company, good for you. That’s really what I wish for you. The thing is, in the beginning, it never happens like that. We are in a local, national business, why not. But global, no.

We will try to take it step by step. For the size of your market, you can see this from the different types of statistical studies that exist in your sector or from your market research. Knowing that, this type of information, we must try to take it with a step back.

For what ? It’s good to have a view of an industry’s overall revenues. The problem is that it doesn’t really give you any indication of how and how many customers you will be able to convert. You just know that there is a market and you see that the trends are positive.

Now I will answer you in a concrete way for the SEO sector.

In SEO, the only numbers I have been able to find are industry-wide from a global perspective. In France in particular, I searched and I didn’t find anything in particular.

In any case, what I know will be more along the lines oftrends. Unsurprisingly, there are more and more websites, on the one hand. On the other hand, companies are investing more and more money in SEO campaigns to improve their organic traffic.

Am I going to approach this from a local, national or global perspective?

So first of all, my business will be located in a very specific location, namely Paris. Therefore, I will make sure to find clients in Paris and its surroundings. Afterwards, the advantage I have with SEO is that it is an online business. So, I will have the possibility of doing some of my activities remotely. For example audit or even consulting activities.

As long as I have information like Google Analytics or Google Search Console, I can work from just about anywhere. So initially, it will be from my point of view, local and national.

The world, why not? You have to have ambition, that’s for sure, but it’s clearly not the priority. If at any given time growth is strong from a local and national perspective, why not consider something else. But right now, no.

Afterwards, you also need to know if the content and services that I offer are likely to be of interest abroad. I think so. But in all cases, we start “small”, we start local, potentially national. The world in a second phase, but not immediately.

2) How many customers can you expect?

When you are going to start your business, it is important at the outset to gauge how many clients you can hope to get.

Obviously, when you start your business, the number of customers most of the time is zero, and that is completely normal. Little by little, you will succeed in having customers, succeed in convincing them, etc.

Knowing that my activity will be SEO consulting, the objective will be to give the maximum added value to my clients to try to have atrue qualitative approach.

What does it mean ?

This means in concrete terms that I initially aim for between 1 to 5 clients per month.

Why am I sure of this ratio?

Because I could have said 20 customers. The problem is that in fact if you have 20 clients from the start, and only one person takes care of them, the quality will inevitably plummet.

With my agence SEO, I do not want to tend towards a low-end service, but rather towards a service that is mid-range initially, to have low prices and customers who are interested. And little by little move upmarket. So between 1 to 5 SEO clients, that seems good to me to have a qualitative approach.

3) In this market, is there a shortage or excess of supply?

Indeed, there are very competitive markets where there will be a lot of people, and others, much less competitive, where there will be very few people. Therefore, if you have a particular skill that is in high demand, good for you.

This means that you will succeed in obtaining significant growth for your activity and your business. Knowing that competition, or having for example an excess of supply is not always a problem in itself.

I will have the opportunity to say this again in other questions that follow. But in essence, if there are people in a market, that most of the time means that there is income in that market. Therefore, you have the opportunity to create a business in this market.

Always be careful of markets where there are no people. If there is no one, it is either that everyone has missed out, so it is a golden opportunity, or it means that there is not necessarily any money to be made in this sector.

In SEO, there is neither shortage nor excess of offers. I would say it’s really somewhere in between actually. There are very good freelancers, but also very good agencies. So I don’t think we are in a sort of excess offer in terms of SEO advice. There is, but I think there is enough space!

4) Can new players appear in the short term?

Sometimes, it happens to find markets in which players are there historically. So, if you want to enter this market, it will be possible, but it will be more complicated. So it will depend on your sector, your products, your service, etc.

Regarding SEO, my answer is clearly yes. I think new players may appear. Currently, there are no dominant players to speak of. There are some very good actors, but none who are particularly above the rest. Regarding the barrier to entry, we will say that it is relatively low. So yes, there is the possibility of new actors appearing.

5) Is your activity BtoB (business to business) or BtoC (business to consumer)?

Depending on your business, your activity will tend towards BtoB or BtoC, and of course between the two, the approach will be radically different. In BtoB, you will contact professionals.

In BtoC, it will be for consumers. We do not approach consumers and professionals in exactly the same way. So, be aware of the nature of your audience. In this way, you will be able to adjust your communication, your marketing, commercial aspects, etc.

In SEO, we are clearly in BtoB. Knowing that in the communications that I am going to make, there will be a large part BtoB and a very little bit of BtoC (for example on YouTube). But basically, the actual SEO consulting service that I am going to offer will be for professionals above all.

6) Is your offer in line with market expectations?

It seems logical, but sometimes we can miss the obvious. So take some time to look at what the competition is doing.

For what ? Quite simply because if you come up with a product or service that is not at all aligned with what your customer wants, you are not going to sell absolutely anything, and your revenue will be 0. Therefore, really try to know market expectations, so you will be able to offer an offer that will be adapted.

For my SEO business, I will ensure that the different offers that I propose are in line with customer expectations. There will be an SEO audit, “On Page SEO”, backlinks, etc.

7) What are your customers’ expectations? Are they loyal or captive?

Understanding and knowing customer expectations is absolutely crucial. For what ? Quite simply because when you start your business, you may have things in mind.

The problem is that between what you have in mind and reality, sometimes there is a sort of abysmal gap. Therefore, when starting a business, first of all, it is important to go see customers or potential customers, and ask them:

• “Concretely what do you want? »
• “How can I help you? »
• “How and what are the elements of added value that I will be able to give you? »

For SEO, the expectations are simple. Clients have one or more websites and want to get more organic traffic, that is, traffic coming directly from Google. This is what SEO allows. The other element that interests them will be the income linked to organic traffic. In other words, we increase organic traffic, as well as revenue.

SEO also allows you to do this. And that will be part of customer expectations. OthersSEO KPIs can also be interesting, such as the return on investment of an SEO campaign.

This is indeed a question that investors can askFor example, if I invest 1 euro, how much will come into my pocket after this SEO campaign? 2, 3, 4, 5…, 10 euros?

Then, the other element: are the customers loyal or captive?

Indeed, it will be important, because some clients will be difficult to obtain because they are very loyal, for example to the SEO firm with which they work. And others much less. For example if they use freelancers.

Knowing that this is an example. I could very well have said the opposite. There are freelancers who are exceptionally good at what they do. So we shouldn’t be caricatured at all about that. In all cases, be aware of the loyalty of your customers.

8) What are the customer benefits of your product or service?

When you are going to offer a product or service, customers must buy it because they feel that there is some kind of added value or additional benefit compared to other products and services on the market. Depending on your sector and industry, these benefits may be different.

In SEO, the benefit for the client lies in having more organic traffic, and earning more money thanks to that.

9) Are you in direct or partial competition with an existing offer?

When you have more or less significant competition in your market, logically, it will be more or less easy to find your place. But to come back to what I said before, competition should not scare you at any time.

I know that when you are a new entrepreneur, you often say to yourself “Oh my! There’s competition, I can’t go there! “. Don’t take it like that.

Really consider the fact that there are people there as a real lever for growth. Consider that there is potentially money to be made in this market. Therefore, do not be afraid.

Is it going to be more complicated than a sector where there is no competition at all? The answer is yes “. But the thing is that sometimes, sectors where there is no competition at all can be explained simply by the fact that there are no profits to be made. So, don’t be afraid of the competition!

In terms of offers from an SEO point of view, services related toaudit SEO, At “On Page SEO» or to backlinks, are often the types of activity that are offered by companies in this sector.

10) Can you easily differentiate yourself and find a niche position?

When you start a business, try to start, if you have the possibility, in a niche, that is to say on a relatively small fragment of the market. For what  ? Quite simply because it will allow you to become an “expert” on a very specific part of your market, and to satisfy your customers.

This is a good gateway to obtaining new customers. Then, when you have gained the trust of your customers, you can increase the services offered and grow your business little by little.

In any case, I advise you not to start in a huge market. Start small, with a service or something that will allow you to differentiate yourself.

At the level of the business that I am going to launch in SEO consulting, the differentiation will be at the service level. I will really try to highlight my service in order to be perceived as an “expert” company in “On page SEO”.

This is one of the things I really want to be defined on, an axis on which I really want to focus on to succeed in convincing my clients.

So this is one of the differentiating aspects, and this is my niche part. Afterwards, there will perhaps be developments. We will see how things will evolve.

In terms of differentiation, there is also another element on which I think I can distinguish myself. This is about creating my content. There is already a lot of SEO content out there. And content is crucial.

Obviously, people who work in SEO know how important it is. So I’m going to try things a little different way.

This will notably involve the type of content, for example videosYouTube. I am also going to make a particular effort in terms of my blog, my articles, and the visuals. I really want to make a significant effort to show future customers what my company is capable of.

11) How many years of experience do you need to be credible with your customers?

There are sectors where experience is a determining criterion. So, if you don’t have 10, 15, or 20 years of experience, it’s going to be very problematic for you. In SEO, experience is important, but you don’t have to have been in this industry for many years.

For what  ?

What you need to understand about SEO is that it is a sector that evolves quickly and regularly. In other words, from the moment Google makes algorithm changes, each time it involves a new way of doing things, because the way of doing SEO evolves radically.

So years of experience, why not. But the real criterion from my point of view, to choose the right SEO company, will be above all to know which company is the most up to date on the latest developments which impact the algorithms.

Ultimately, it will be about its ability to evolve over time, which from my point of view is the most important element. For example, if a person who has 15 years of experience in SEO, does SEO as on the first day 15 years ago, I can assure you of one thing, it is that at present , it clearly doesn’t work anymore.

12) Who are your competitors?

Take a little moment to try and see who the different players are in the market. It could be something important. Afterwards, you have to know them, but you shouldn’t be obsessed with what they do either.

Otherwise the only mistake you risk making will be to reproduce a pale copy of the original, which would be a shame. So you have to keep an eye on the competition, but not be obsessed with it.

SEO is a market where on the one hand there are, let’s say, SEO agencies which are structured. From my point of view, there is no actor that particularly stands out from the others, even if there are very good agencies that already exist.

This is the first part of the market. And on the other side, there are the freelancers. Just like with agencies, there are freelancers who are extremely good, others who are not necessarily exceptional. So we can say that there is a sort of duality, with freelancers on one side and agencies on the other.

13) Does your know-how give you a real advantage?

Indeed, there are skills that are extremely rare and which will allow you to have a real advantage. For example, if you are an exceptional craftsman or if you have special know-how. Therefore, you will get a definite advantage to complete a mission that is difficult to do by others.

Speaking of SEO, I think there are several things that I think I have an edge on. These include “On Page SEO”, where I have the opportunity to bring a lot of things to the market. There are others, but at the moment, it is mainly this aspect that I wish to highlight.

14) Where is added value created in the sector?

Knowing where the generation of added value takes place in your industry is an important element to know, because it will be a criterion which will intervene on several elements, including the definition of price levels. For example, if you have an activity that does not create a lot of value, that means that in terms of price, it will be difficult to offer high prices.

The added value in SEO really comes down to the ability to grow a website in terms of organic traffic and increased revenue.

15) How do prices change?

In some markets, price fluctuations can be considerable. Therefore, it is important to know the specifics of your market in relation to this.

Take for example the milk market. Without surprises, you will experience world prices with incredible price changes. So depending on your sector, you may be enormously impacted by price changes.

In SEO, there are global trends in the market, with average prices for services. Afterwards it is negotiated, depending on the customers and the type of service that you are going to offer.

In the same way, I will set prices on the business that I am going to start. To the extent that I am in “start-up” mode, I cannot afford to arrive with what are called eccentric prices, that is to say very high or the highest on the market.

When you arrive in a market, you must first have your first customers, satisfy them and ask for a recommendation. So, subsequently, I could gradually increase my prices if I wish.

So these will be prices, let’s say at the market average, or even a little lower even, just to try to be as attractive as possible initially.

16) Will regulatory changes make it more expensive to start a business?

As I had the opportunity to tell you in the introduction, there are questions that will not necessarily be conducive to my activity. Maybe this will be the case for yours.

Indeed, legal changes can sometimes impact the launch of a business. Therefore, if you are in an industry prone to regulatory changes, I advise you to monitor developments regularly so as not to be caught off guard.

To my knowledge, regulatory changes have no impact on SEO consulting.

17) Who are your suppliers? Are there many of them? Concentrated?

In SEO, there are no direct suppliers per se. But if you are in the ready-to-wear sector, for example, having suppliers who are concentrated or not will play a huge role.

For what ?

Because if you have problems with prices that are too high and there aren’t many people, that simply means that you will be able to compete. In the opposite case, if there is none, i.e. if the suppliers are concentrated, this situation will have a direct impact on your business. So knowing your suppliers well, understanding the very structure of the supplier market will really be relevant for your business.

18) Is it easy to change supplier?

This question has a lot of overlap with what I just said. Namely, if you have a problem with price or quality. You do not have to stay with the same supplier if you are not satisfied with them. This way, you can change it very quickly.

19) Will they have the power to influence the quality and cost of your offer?

Indeed, if there are not many suppliers and they offer you something that is not of good quality and at prices that are too high, you will have practically no room to negotiate.

This situation does not apply to SEO.[fusion_menu_anchor name=”B” class=””][/fusion_menu_anchor]

Now that we have completed this part on the market, we can now move on to the next one, relating to the profile of the entrepreneur.

B) The profile

Now, I will present to you the different questions relating to the profile.

Indeed, when you present your business plan, know that it is above all about you, just like business in general. Therefore, it is not surprising that investors are interested in what you have done in the past in order to understand your journey.

Sometimes, some questions can even go as far as personal life, as this is a relevant element for investors. They know that certain personal concerns can have a lasting impact on your business.

20) Have you ever run a business?

people who want to create their own company. Depending on your answer, investors or bankers will be able to assess the risk according to them.

In fact, investors have more confidence in people who have already managed companies. If you’ve never set up a company and this is your first, don’t stress out forever about it. There are a large number of examples where people who had never managed a company succeeded by becoming excellent leaders.

The best known cases, Bill Gates and Zuckerberg. But many others too. So for me, it’s not obligatory. It’s just a little extra. Some investors sometimes like to say that if the entrepreneur already has experience, it is more reassuring.

So, my answer is yes, I have already assembled boxes in the past. Some were completely wrong. So the objective is to try to capitalize on what did not work to ensure that the future succeeds.

21) Are you trained in management?

Same as the previous question. For me, being trained in management is both important, but not essential, if that is not your case.

If you have never studied management, business school or that sort of thing, and you want to set up your company, don’t hold yourself back for that reason. The fact of not being trained in management is a personal point of view after all, it is not the most problematic element.

Afterwards, on this subject, I have a slightly biased point of view. For me, management is not obligatory to learn in training or to attend business schools. In my opinion, most of the time, “management” is above all a matter of common sense.

Namely, are you able to put yourself in the shoes of others to understand what their interests are? What are its objectives ? What does he want to aim for? And many others. It turns out that there are people who are naturally good at management and who have never gone to school. Conversely, there are people who have gone to school or studied management, who find themselves at a given moment in a managerial position and are absolutely catastrophic.

For me, management is above all a relationship with people. Personally, I believe that there are many more management lessons in literature than in any other book that claims to teach you management. Again, this is my point of view, you don’t have to agree with me. So to the question, have I been trained in management? The answer is yes, I went to business school.

22) Can your family environment facilitate the realization of your project? Do you have the support of your spouse?

This question close to the intimate sphere can sometimes be disturbing. And yet, this is an extremely important and decisive point. For what ?

Simply to the extent that when you are going to set up your company, you will find yourself in the same situation as if you were creating a sort of boat to go to sea. Obviously, when you set up your company and especially for the first time, there is a tendency to really sway. There are doubts, uncertainties, you will have moments of loneliness and you will be afraid. In short, moments where you will feel alive. However, it is so difficult to start a business if you don’t have a family who supports you. It’s a kind of weight that we add to the boat and which can literally sink you.

Same thing with your spouse. It’s even stronger with the spouse. If you want to set up your company and your partner is not aligned with it, or is even formally opposed to it, it’s a really bad start! Because not only will you have to fight to exist as a business, but you will also have to fight in your home to show that your decision is the right one. So it’s very difficult.

On a personal level, does my family make it easier to carry out my project from a financial point of view? Let me be perfectly clear, the answer is no. I don’t come from some sort of upper middle class background. I’m going to start my business with my own finances, not asking anyone for money.

Is my family putting obstacles in my way when it comes to setting up my business? The answer is no. But there may be times when some members of my family are afraid.

Entrepreneurship ultimately also means knowing how to manage your own fears, managing the fears of others, and that can be a little more complicated. But over time, experience and confidence allow me to ensure that it is not a hindrance.

So my family doesn’t put obstacles in my way regarding that, but financially they don’t help me either. Especially since for the activity that I want to create, namely SEO consulting, there is no one in my family who has already set up companies in this field.

Then, in terms of support, I have Mariana’s support at 200%. At certain times, she will even help me with this business that I am going to start, particularly with all the design aspects linked to the brand identity. Mariana is therefore a support, and it’s a real pleasure to have someone who supports you on a daily basis because being an entrepreneur is difficult!

23) Do you know someone with whom you canregularly do update on the project?

Indeed, it is always a good idea to regularly take stock. It could be with a person in your industry, a person who has already set up a company in the same sector…

In short, different types of profiles, of people who will suit you, knowing that it is still better to make points with people who know your activity or people who have already set up companies.

If this is not the case, it’s a little more complicated in fact, because they will not necessarily, from my point of view, have the ability to really give you relevant advice for your specific situation. talk.

So, am I going to do it? In fact, the real people with whom I’m going to do the accounts, quote, is you. So you will watch my videos, you will see the evolution of my business, and regularly I will take stock. And why are points important?

Quite simply because it allows us to see what we have managed to do, and above all, what we will aim for next. So it’s a really good game to play. Afterwards, don’t spend 15 years there either. Spending time preparing for meetings to take stock when you are a start-up, when you are a large structure, is a little different. But when you’re a small start-up, you have to make points, but also not spend too much time on it.

24) Have you ever met an association of creators and support?

Indeed, if it’s your first time, it could really be interesting to join an association that will support you in creating your business. Knowing that in fact, it will also depend on another element, namely whether you are a solo entrepreneur or if you already have members in your team.

Depending on this, you will have to adapt your strategy. Because sometimes, when you start in entrepreneurship while you were in another sector, often in the end, you are not really competent as a business creator.

So this requires knowledge, sometimes basic knowledge, knowledge which can be of a human nature. In short, there are quite a few things to develop. And concerning myself, rather than very theoretical things, I prefer knowledge that is more pragmatic. After all, that’s my point of view.

So yes, I had the opportunity to go to certain support or creator associations in Paris, notably some which are quite large and well-known. I stayed there, but not very long.

To be honest, I only went three, four times to some of them. In any case, it was never really long term. Quite simply because in fact, I had the feeling that at certain moments, it didn’t help me move forward very much.

Once again, this is not a global vision that I wish to give. It’s mine. Simply sometimes, for example when I ask myself a question, I go on the Internet to find out, I watch videos, and in fact, that solves the point where I potentially have a problem or I wish to improve.

And the problem I find with associations is that they have so many things to deal with that sometimes, from my point of view at least, it’s a bit long, a bit theoretical. This means that in the end, it is added value that we lose, especially time. When you are an entrepreneur, don’t waste time!

25) Are you ready to make financial sacrifices?

Indeed, when you set up your business, and it is ultimately quite linked with the story of the spouses from earlier, the financial side will be something that you absolutely must discuss with your wife, or your man , never mind.

To set up your company, especially if you are in a position that is relatively comfortable, stable, if you have been in a company for a while and you have prospects, you do not necessarily pose any problems, the financial sacrifices you make, but not too much.

Also note that when you start a business, in general the income at the start is 0 and therefore, it can be complicated at the start to start your business. So what I advise you in relation to this is to really imagine what things or what activities you consider to be a sacrifice. The idea when you start a company is not to be frustrated.

Let’s say you love doing sports, gym, whatever, and that’s your passion. If ever when you set up your business, you say to yourself, ok to set up my business, I have to eliminate my sport or the activity that I particularly enjoy, you will end up being frustrated. So it’s not at all a good plan to do this kind of thing.

Try to think about things that don’t seem essential to you. And when there are some that really make you happy and you know that deleting them will frustrate you, don’t do it. Really, never delete things that will frustrate you because a frustrated entrepreneur is the worst thing!

26) What will your financial needs be in the coming years? (children / apartment)

We really get into the personal with these aspects. Indeed, depending on your business, you will have to give more of yourself. Let’s take the example of a Tech type business. The thing is, it requires R&D (Research and Development) for several years, before it starts generating revenue.

I actually mean that sometimes the personal calendar and the professional calendar can be a bit in conflict. When you have life goals, sometimes entrepreneurship involves shifting them a little. So you have to be aware of it to do things well. Then the third point is to form a team.

C) Form a team

This goes back to what I was saying earlier. You don’t build a business or an empire alone. We can start on our own, that will be the case for me. But the objective, of course, is to get people to join you to succeed in making your business explode.

27) Can you rely on a close-knit, complementary, experienced team?

Indeed, when you start entrepreneurship, at least a start-up, having a team that is united is extremely important from my point of view. Besides, the experience will come. Even if you’re not the most experienced at the start, it doesn’t matter. From the moment you are united, it will fix a lot of things.

Obviously, if you complement each other that’s also very good. For a very simple reason. Sometimes we can be very good at certain things and very bad at others. Therefore, if you can bring together people who have different skills, this allows you to accelerate your business much faster.

For now, I am starting as a solo entrepreneur on this project, therefore SEO consulting. Knowing that obviously the objective for me will subsequently be to grow the company and to succeed in creating a complementary, united and experienced team, of course!

28) Are the key skills for the success of your project represented?

It’s a good question. Because if, for example, you want to get into technology and you don’t have any engineers on your team, it’s complicated. So, still have a minimum of key skills in the activity you want to get into.

Again, you don’t have to know how to do everything. But at least have good foundations or key skills in certain aspects. This is really important for your business. Personally, I have good SEO skills. On the other hand, one of the elements where I think I will have to find someone fairly quickly to help me is, for example, at the commercial level.

I can do things myself, but there are people who are clearly much better than me on this subject. So that will be part of my priorities.

Furthermore, you should not create positions just for the sake of it when it comes to training your team. Indeed, it is not uncommon to see in many young companies positions such as deputy director which increase costs, without being of much use.

29) Failing that, can you count on external skills?

In fact, the idea is simple. It’s just a matter of understanding what your state of mind is regarding the subject. And understand that if you don’t know how to do everything when you set up your company, that’s normal!

Nobody knows how to do everything. A business is not created like that. You’re going to have to have several types of people, several types of skills, and that’s how you’re going to grow your team and then succeed in the end.

So the fact of relying on someone outside or external resources, really take it into consideration. Don’t tell yourself, to launch my company, I have to know how to do everything. Otherwise it will never happen.

30) Are your objectives understood and shared by everyone?

Indeed, when you start a company and you are a team from the start, it is really important to share your objectives with the other members. For what ? Quite simply because if you don’t share your objectives, you will gradually realize that ultimately, you are not going in the same direction at all.

The problem in fact is that a start-up at the beginning, if it ever starts to have a little growth and two types of teams are formed, there will be one which will want to go in this direction- there, and the second in the other direction. And I tell you, it’s going to breathe fire!

So what you will obviously have to do is communicate as much as possible, see if everyone agrees with you. And if this is not the case, which may be normal, really try to separate yourself as quickly as possible from people who do not potentially share your goals or your vision. Because otherwise, it’s not going to do it. A concrete example.

If in your business, you are with a partner who wants to obtain money, let’s say extremely quickly, why not, it’s laudable, and your objective is to create a long-term business, which pays you money and will allow you to be satisfied over a long period of time, you clearly see that you are in opposition.

So gauge carefully, see everyone’s objectives and based on that, make decisions.

For example, I am a solo entrepreneur, I agree with myself, let’s say, in terms of my objectives. But really, the goal with my business, the business that I am going to create in SEO, is to try to set up an agency that will have a lot of authority in the coming months/years. Because the objective for me is to have a long-term activity.

I’m not looking for a first try where I earn money for a little while then, after that, I do something else and go off I don’t know where. So it’s really long term that I want to create. And that’s why my overall approach will always be long-term.

31) Have you planned to retain your key people?

Indeed, when you find people who will have the same objectives as you, people who will have important skills, what you will have to do is to succeed in keeping them.

It may seem trivial, but managing to retain key skills and people is essential for me. Maybe I have a vision that is a bit particular, but for me, a business is really, above all, about people. Above all, it is values ​​that you will share.

Therefore, if you ever find people who are aligned with your objectives, your values, and who are effective, do everything to keep them.

So there may be several levers, but try to do your best to keep them. It can sometimes be through remuneration, through financial aspects, but it’s not just that either. There are many other aspects that will come into play.

In any case, it is above all a team story, a company that is being set up. And for now, I’m not going to paraphrase Bill Gates, but at one point, he told a story where he said that ultimately, what he did with Microsoft was not so much him, but the 20 first people who joined Microsoft at the very beginning.

And I think he’s absolutely right. Quite simply because a business at the beginning, if there aren’t the right people or if you can’t keep your key people, it can quickly get out of hand.

Then the fourth part, marketing and sales strategy.

D) Marketing and sales strategy

Marketing and sales strategy. I tell you, the articles that I will write will clearly be mostly about SEO, but there will also be some on online marketing. Quite simply because it is absolutely crucial.

So if you have ideas like “yes, marketing is good on paper, but hey here…”, you will have to delete them, because marketing is going to be really crucial. It’s literally the fuel for your business model.

32) Do you know what types of customers you are going to target?

Indeed, when you start your business or when you wonder how to make a business plan, it will be important to know what type of customers you want to reach out to.

In the context of SEO, to the extent that I am going to start, I will not be able to address point blank let’s say, to large companies, for example from the CAC 40. Large structures, clearly, it will be inaccessible.

Because what’s more, getting into the selection process is a whole lot of things and in any case, it’s going to take time. Therefore, the big boxes later perhaps, but not immediately.

Initially, what I will really focus on will be start-ups, especially those that have raised funds. Because they will have funding.

Also generally speaking, start-ups that are doing well and already have money that they want to invest in SEO to increase their organic traffic. Because I love start-ups and I think that even beyond SEO, I could give them a lot of advice.

The other element that I’m really going to try to focus on is going to be VSEs. Because they already have a successful business, but do not necessarily have Internet skills, particularly in terms of SEO. And there clearly, I can give them my expertise, I could help them increase their organic traffic. Basically, these are the two types of customers that I will prioritize.

Besides, why do you need to prioritize clients? Quite simply because at first, you started with very few resources. So the objective will be to try to allocate your resources, your time, as best as possible, to obtain clients who will potentially last in the long term. And this as quickly as possible.

That’s why it’s actually interesting to know from the start which types of clients seem to you to be the most affordable and, above all, those who will also allow you to have a significant margin. If we consider two customers, one with an average margin and the other with a slightly larger margin, prioritizing the one with the larger margin will be interesting, because it will allow you to have more silver. As a result, you will be able to grow your business even faster!

33) Is your market segmented?

I’ll take the example of SEO, it will be simpler. The SEO market is clearly segmented, I would even say almost fragmented, in fact. On the one hand, there are the SEO agencies themselves, for which this is the core business. There are several on the market, at least in France. And on the other side, there are, let’s say, freelancers. So there you have it, on one side there are the agencies and on the other the freelancers.

34) Have you defined priority targets?

This goes back a bit to what I said before. When you are going to get clients, really try to initially focus on those who are the least difficult to obtain, with the best remuneration, therefore the best margins for you from the start. It’s important to prioritize because it will allow you to accelerate faster.

35) Will you face a network of priority prescribers?

Right now, I don’t know anything about it, I don’t even know what a network of priority prescribers is. So sorry. If this ever concerns you, look, but right now I don’t know.

36) What are the commercial means to implement to achieve your turnover objective?

Indeed, I am going to mix commercial means with marketing. Of course, when you’re in a company that’s just started, you do absolutely everything. So all domains in quotes are mixed.

We are not in a big company, where there are people who do the commercial aspects, some the marketing and others the finance. There, as a start-up, you will do a little bit of everything. So the commercial aspects, I will mix them with marketing.

Basically for me, the right way to obtain new customers is with inbound marketing on one side and outbound marketing on the other. I’ll explain to you what it is.

Inbound marketing in a very simple way is when customers will come to you to see your business and use your service. Outbound marketing is when you are the one who contacts customers. So you understand that in terms of approach, they are two different things.

I am someone who believes enormously ininbound marketing. And SEO is inbound marketing. Content creation is also inbound marketing.

The advantage with inbound marketing, it’s a huge advantage, is that when you start it and you do it well, it allows you to have customers on a regular basis, customers who will come non-stop. knock on your door asking you to work with them.

Outbound marketing is different. Because it is you who will take the time to pick up the phone or send an email. In short, prospecting to get a new client. So you should do inbound marketing from the start. And that’s exactly what I’m going to do. Because for me, that’s really the most crucial element.

In summary, inbound marketing from the start, in terms of content creation, and in parallel a little outbound marketing, the first three months.

Outbound marketing can be useful, effective, but the thing is that inbound marketing, from my point of view, is much more powerful. And that’s why I recommend putting it in place from the start.

So here are the different commercial means.

37) Is your marketing process defined?

The answer is no, I don’t have a process per se. Maybe it’s already clear in your head.

Yes, I know roughly how I am going to approach a client. Most of the time when doing SEO, one of the good entry points is the customer audit. Because it will allow you to see what technical problems there may be on the client’s website and therefore help them quickly resolve them. Afterwards, why not sell another service, annexed to SEO.

So there you have it, my marketing process is at that level. But objectively, it would be worth exploring on my part.

38) How will you organize your sales force?

So there, it’s the same. I think it’s good to ask yourself this kind of question. In a structure, with a team of 2 or 3 people, everyone will do a little of everything at the beginning. Except if you decide from the start to split the tasks with a person who will only do sales. Since I am a solo entrepreneur at the moment, the sales force will be me.

39) Have you planned a forecasting and reporting system?

Indeed, when you start a business, when you start an activity, the idea will be to follow your information, financial or otherwise. So having a reporting system is important. I think I have good Google Sheet and Excel skills in general. So this will be the kind of reporting that I will do when it requires a, say, manual aspect.

But above all from an automatic point of view, to the extent that I am going to work on my site, I am going to use a system called Google Analytics, which can also be coupled with Google Search Console. It doesn’t really matter.

But basically, on Google Analytics, you will see the sources of your traffic, your income and all that. So it’s going to be extremely effective to have a reporting system.

40) Do you need a marketing function?

So for now, my point of view on the subject will be partisan. But I almost want to say that no matter what you do, no matter whether you are a plumber, a pastry chef, whether you are a consultant or whether you are setting up your own business, marketing is very important. And to show you, I’m just going to give you one item.

For example, imagine two people with the same skills, and wanting to enter the same sector. They have the same money at the start. It can be said that at this point they are identical.

Now one of them is going to have much more developed marketing skills than the other. I can assure you of one thing, it is that with equivalent skills, the person who is good at marketing will explode their business much more quickly than the other.

So really take that into account. Marketing is not something to be taken lightly, especially not today. After saying that, I’m also going to put things into perspective. Let’s take the same example. There are two people who want to create a business on the same activity. One of them is very good at his core business. The other no. The person who is not good at their core business is, on the other hand, very good at marketing.

What’s terrible right now is that the person who is not good at their core business, but good at marketing, will do better in the short term. In the medium to long term, it is the other who will do best, quite simply because word of mouth will work. And since its customers will be satisfied, it will increase its business.

What I mean by that is don’t see marketing as some sort of superfluous element. It clearly shouldn’t be. Right now, to create a successful business, marketing from my point of view is more important today than ever.

And tomorrow it will be even more so. You will perhaps say to me “From what you say, the form is more important than the substance”. The thing is that when you put together a box, the shape and the content must be prioritized. There is no form more important than the substance, or substance more important than the form. Both have to be good.

41) Have you calculated your communications budget?

Bankers may ask you this question. With the company that I am going to set up in SEO, I am not going to bring an amount of money strictly speaking. On the other hand, I’m going to spend some time there. Because communication is really important, it’s really crucial at the start.

So yes, I will spend time there. Budgetarily no, but it is possible at certain times that I use certain tools. Some of these tools will be free, others will be paid.

Don’t worry, I will have the opportunity to show you concretely how I do it.

42) What communication tools do you have?

I have already answered a little but indeed, there are tools which will be more or less important. Afterwards, I don’t know exactly which ones. Because depending on the business, there may be things that we prioritize more or less.

Depending on your sector, you can prioritize social networks like Instagram, for example, others prefer Pinterest, or platforms like Linkedin.

In short, depending on your sector, whether you are BtoB or BtoC, and what the customer expects, the tool will vary. So for me, this question is not very relevant.[fusion_menu_anchor name=”D” class=””][/fusion_menu_anchor]

D) Protect your know-how and your product

Sometimes depending on your sector of activity, especially if you do R&D, you will spend time doing research, which can be extremely expensive. And so that just means that in the end, you’re going to have to protect what you’ve done. Because otherwise, there will always be smart people who will be there to steal your technology. Or your know-how.

43) Can your technological knowledge be subject to legal protection?

Don’t take this lightly. If this is your case, take the time. It’s true that it’s not the most glamorous time when you’re doing entrepreneurship, but it’s really important to protect, legally in any case, your business, to avoid the slightest glitch afterwards. Because sometimes things can go very wrong.

44) Can your solution establish itself as a standard in the sector?

Yes. Indeed, the more innovative a solution is, let’s say, the more important it is to protect it. Simply because when you arrive on the market, you potentially explode what is being done, and that can create tensions among other players. So keep that in mind. And that’s all I wish you.

If you have a solution like that, I say congratulations. This is exactly what we should try to do.

45) Are you going to have to convince other technological players?

Yes. Of course, there are certain technologies that are ultimately combined with others. And the problem is that if these actors do not agree to implement your solution, well it will simply not be viable.

It’s not that it won’t be viable, but it’s that it will never exist on the market. So sometimes, there are certain sectors where it can be extremely decisive to check this type of thing.

46) Is your innovation at risk of being quickly outdated?

Again, this is not a question that applies to SEO at all. But overall, if you do research and development (R&D) for two, three, four years, and you finally realize that when you put the product on the market, 6 months later there is no longer anyone buying your product, it’s a shame.

So it’s true that technology is moving at such a speed today that sometimes it’s a little difficult to predict what the next move will be. But simply put, it’s better to say “stop” rather than launching into something that ultimately won’t lead to anything. Or something obsolete.

47) Have you quantified your R&D needs?

If you are in technology, R&D, you will have to quantify it. Your banker or your business angel will be interested in it.

48) Will your production tool initially be sufficiently calibrated?

I don’t really know how to understand this question. In any case, the interpretation that I make of it is that if you have a business, for example in ready-to-wear, and you have machines that create your items, your new products, well from at a certain level, your machines will reach a sort of limit.

So that means that potentially, you will have to invest again if you want to increase your volume. Knowing that in certain sectors, if you don’t reach some kind of critical mass, it’s not actually worth it. So okay, I don’t know if that’s the way I should interpret it, but that’s how I understood it.

49) Do you know how to arbitrate between internal production and subcontracting?

What I recommend to you, in quotes, is that depending on what you do, if you have a core business, a core activity, it must remain internal. On the other hand, anything that is potentially supportive, or anything that is not essential and does not directly intervene in your core business, yes, you can subcontract it. But obviously, the fact of internalizing things, the fact of subcontracting, generally, it’s a bit on a case by case basis. Business by business. You really have to ask yourself questions. And there is no obvious answer to these kinds of questions.

Finally, the last part will be finding the funding.[fusion_menu_anchor name=”E” class=””][/fusion_menu_anchor]

Find funding

This is the moment where we will talk about finances and where your banker or your business angel could potentially challenge you.

50) What is your overall financial need?

In addition to your business strategy, you also need to think about the financing plan. In many cases, to start your business, you will need resources. So resources can be linked to debt.

But there may also be resources which will be linked to your equity, therefore for example to your money or your savings. You can also use what some call “love money”. Love money is simply asking for money from loved ones.

That’s basically it. So, understanding your financial needs is important because it simply prevents you from asking for too much when ultimately, you are not going to need as much. So there you have it, this can really be an important thing for bankers.

51) What distribution between equity and debt?

That’s important at the moment. Your banker will challenge you on the subject. If, for example, you were planning to take out a bank loan, putting 0 of your personal contribution, I tell you, there is very little chance that it will work.

I’d be really curious to know the name of the banker with whom it would have worked, since most of the time it doesn’t happen.

Investors always expect you, as a business creator, to put your hand in your pocket too. It’s a question of credibility. And they too, the investors, will say to themselves that if they lose money, you lose money too.

52) Is your business a consumer or generator of income?

There are ultimately businesses where, in terms of earnings, it will be complicated. If that doesn’t speak to you, I’ll give you examples.

Take for example the case of supermarkets. Supermarkets are types of business that have a positive WCR (Working Capital Requirement). This simply means that supermarkets will receive money from customers.

For example, when you go to the supermarket, you pay the structure directly for the different products you buy. So the supermarket receives the money immediately from its customer. On the other hand, the supermarket will pay its suppliers a long time later. It could be in 30, 60 days.

And what does that mean from a cash flow point of view? This means that we will always have a cash flow which will be positive. So the supermarket will generate income. This is going to be extremely interesting. And the bankers absolutely want to know it. For what ?

Simply because if it is the opposite and you are a consumer of income or in other words, you have a negative WCR, that will mean that it is your bankers who will finance your lack of cash flow. And overall, they don’t really like it.

The thing with this is that it will really depend on your type of business. Ultimately, there are very few businesses that will be extremely revenue-generating, like the supermarket. So, be aware of this, because cash flow is essential. This must be taken into account.

53) What will your cash flow needs be in the first year of activity?

As I told you earlier, cash flow is really important. Indeed, money in general is the sinews of war. I don’t plan to give you finance lessons. But understand, the issues around cash flow are important.

There will be many challenges. Good investors will really challenge at this level. Because if you don’t have cash flow, if you can’t generate cash flow, it’s going to be extremely complicated to make your business last over time.

Afterwards, there may be activities where the WCR is negative, say structurally. But in this case, you have to have financing arrangements and others.

54-55) What will be the collection time for customers? Could you provide payment deadlines from suppliers?

It goes back a bit to what I just said, with the supermarket stories. In fact, I took for supermarkets, the cases where the cash flow was positive. Let’s take a reverse case. Let’s say you want to set up a company, in ready-to-wear fashion for example. With ready-to-wear, you are going to need working capital from a structural point of view.

For what ? Quite simply because in fact, for a collection, between the start and the moment when your client will pay you, the time will be very long. The problem with that is that when you create your collection, you will request products from suppliers.

And these will have to be paid for. You can set deadlines with suppliers, but you will have to pay them at one point or another. Here, your suppliers will ask for their money before your end customers have paid you. So that will mean that you will be in the negative.

So. When you are a start-up or an entrepreneur in general, the ability to negotiate the payment deadline of customers or that of suppliers can be a kind of lever on which you can pull, to try to improve your situation by Treasury.

56) After how many months will your cash flow be positive on a recurring basis??

When I told you that cash flow is a bit of a cakewalk, we weren’t there yet. What does it mean ?

Basically, this means that there will be what we call in finance, cash flow tables, which will allow you to see when you are going to spend and when you are going to receive money. You will be able to make forecasts thanks to this. And above all, it will allow you to know how many months you think everything will be positive.

57) What is the forecast amount of your cumulative financing requirement before reaching the cash flow break-even point?

It’s the same principle. You are asked how long it will take you to be positive. Basically that’s it. And once again, where it is problematic, and I am not at all enthusiastic about it, is in terms of sources of income and forecasted income, when we are an already established company.

When you are, for example, a sort of large liner, it is possible to have forecasts on income. In any case, in a much more serene way. But when you are a start-up, it is absolutely impossible.

So, the problem is that we are always making big assumptions. Sometimes there are things that work well, other times not. And the only good way to do it is to test. That’s why I’m not a big fan of all this.

58) When do you expect to break even?

It’s the same principle. Break-even point, break-even point… This is the cream of business plans.

59) Is the profitability generated over a three to five year horizon sufficient?

Here we are on things that I don’t necessarily like with the business plan, but that you must do if you ever ask for money from a banker, the BPI (bpifrance creation) or whoever you want. Because once again, the profitability generated will depend on the income that you are going to set. And when you start a company, you never know how much income will come. Just because you look at the numbers from a statistical point of view and a global point of view doesn’t mean that’s going to be the case. So we are on something very nebulous from my point of view.

Conclusion

There you have it, we’ve gone around with these many questions that others will call checklist. It took longer than expected. I am sorry. The idea for me was to dig deeper into the topics to try to show you exactly what questions it might be interesting to ask when making a business plan. The questions I presented to you are much more relevant than a curve that always rises. This is what will allow you to finally ask yourself the really good questions that can be useful for your business.

So there you have it, thank you for reading until the end. From the next articles, we will get into the pragmatic and thatwill be, of my point of view, much more interesting for you and for me to show you all that.