Let’s say I have a product, let’s assume there is a healthy waiting market for it and let’s assume that there are clients already lined up. In fact let’s just assume from the product, market, client side, everything looks rosy.
What would you say is the one piece of advice to follow to make it a success in France?
Would it be correct choice of business structure or long term vision against short term gain, or correct management of cash flow, banking structure, target advertising, prompt payment of charges and the list goes on ad infinitum.
For those of you who have done it, what would be that one piece of advice that you would say was the difference between success and failure ?
Chose promise, chose due.
Here is the link to the six year simulator. Ignore the flashing lights and stuff which make it a bit heavy.
http://www.entrepriseindividuelle.info/Simulations.php
You need to choose the business organisation type from the drop down menu on this simulator.
The "Optimisation fiscale gérant" in the "calculateurs" tab on the left hand side gives that trade off as to how to optimise income by balancing salary and dividends.
As I said, I don't know how accurate it is but would be grateful if you could give me some feedback even if it is just to say "Useless" or "It sort of gets to around the right figure" (for those of you in the know obviously).
From what I read at the bottom of the page, it looks as though the site author tries to keep it up to date with changes in the law as by the updates and modifications made.
In fact the whole site seems to offer quite a good grounding in getting set up.
Please give me some feed back as to how it works for you.
Ok - I’m traveling now, so won’t put it up until about six this evening (so don’t hold your breath).
I can’t vouch for its accuracy, but it does seem to be pretty well done. There are a whole load of other simulators on the site too such as the best salary to dividend ratios given a defined resultat.
Anyhoo I’ll do it when I get home.
Look forward to seeing it. I'm supposed to be completing last years accounts, followed by a forecast so I can see exactly where I'm going but I am the world's worst procrasinator! And scared of giving up my salary.
Incidentally, does anyone have a simple spreadsheet/account package for prof liberale accounting, all the free ones I find on the net are for loads of stock and other costs that I don't have.
Real good advice guys. Thanks. I found a site which does up to a six year, year on year, comparison of the AE. EI and EURL. You populate income and expenditure and it in theory throws out all your charges IR etc. I’ll drop the link on here when I get back behind the computer.
You've just written exactly what I was thinking Tracy ;-)
Setting the business up in the most suitable structure is probably the most important thing here - it could be the difference between success and failure! As Emily says, pop into your local CCI and run it past one of their advisors, there's a week's training course for all those who want to set up a business (haven't found the time to do it yet - too much work on!)
Bonne chance !
In France, the most important factor is the correct business structure from the start and knowing exactly where you are going to end up, so long term vision has to be included in that. You only have to look at the many threads on here to see that not being fully informed before you start is a recipe for disaster and heartache.
I wish I did have that perfect business, but I’m just throwing up a hypothetical scenario to say: “let’s assume that it’s a good product or service and there is a market - what are the external factors that will influence the success or otherwise of it?”
By your opening gambit it sound the perfect business.
However if it is that good others would soon catch on and copy it.
I would say stand out form the crowd, be an innovator, not a follower and always try to be one step ahead.
Go that extra mile for your clients, that way you build up some loyalty.
iF there is a market for this then it will work
I feel that it is as simple as that
Certainly quality and good value are imperative.