Author: Beverly Fowler

Entrepreneurial Transition As A Generator Of Trends

In the same way that we speak of ecological or energy transition, the entrepreneurial one occupies a place of choice in our society. More than a trend, it is a real phenomenon which is gradually invading the territory and involving new challenges. Inventory of entrepreneurship in France.

Each year, more than 550,000 businesses are created, compared to 216,000 eighteen years ago. On the occasion of its 19th edition, Salon SME (formerly Salon des Micro-Entreprises) published a study to better understand how the French integrate entrepreneurship into their professional career. The results of the survey reveal, for France, a real entrepreneurial transition, as defined by the president of the Salon, Alain Bosetti. But what is it exactly?

Towards a society of independents and entrepreneurs

Concretely, the entrepreneurial transition refers to a gradual evolution from a company of employees on permanent contracts towards a company of self-employed persons and entrepreneurs. Clearly, the opposite movement to that initiated in the 19th century by the industrial revolution, where technical and human means of production, as well as capital, remained very concentrated. Two centuries later, the French do not hesitate, for many, to include entrepreneurship in their professional trajectory, permanently or temporarily, in main or secondary activity. As society is changing rapidly, the phenomenon is gradually gaining momentum in recent years. This gradual shift should, in fact, increase due to the democratization of business creation, considered taboo a few years ago, and opportunities linked to the web as well as to innovation. But above all, the desire for independence and freedom haunt more and more French people. If it is strewn with pitfalls, entrepreneurship remains, above all, the opportunity to live off your passion or even, who knows, to change the world.

These factors that promote entrepreneurship

Difficult and rewarding, the entrepreneurial experience would give rise to a feeling of pride in 40% of entrepreneurs (or ex-entrepreneurs), according to the study published by Salon SME. More than 50% consider themselves ready to renew it without hesitation, while 34% would perhaps do it again. There are also 81% of entrepreneurs who started by choice, against 19% by obligation to create their own job or supplement their income. If the phenomenon of entrepreneurial transition cannot really be imposed (not everyone has the will or the capacity to undertake), it can, on the other hand, be encouraged. Many employees, tired of the rules imposed on them by their hierarchy, want to create their own company. The sometimes tumultuous relationships, experienced on a daily basis, with their employer or the lack of internal development prospects seem to push them to take the plunge.

What Do You Need To Know To Find The Ideal Buyer?

Does the ideal buyer exist? Certainly, but we will have to go in search of it and carefully study all the proposals that present themselves. Selling your business in which you have invested so much time and energy to a buyer is far from an easy task. To succeed in the transfer, it is necessary to understand all the contours of the transfer including the distribution of the offer, research but also to identify the personality and skills of the buyer. Some keys for the sale to be a success.

Before selling your business, you have to think upstream about the profile of the buyer so that the company becomes sustainable and allows your employees to continue working there with confidence but also that it can develop thanks to the skills of the buyer.

How to find a buyer?

To find the ideal entrepreneur, you have to broadcast your offer on distribution channels linked to your sector or activities to attract buyers. So, to disseminate your offer, do not hesitate to call on your personal network, your professional network and the networks that take care of the distribution of offers (Bpifrance, CCI, chamber of trades, etc.). It is also possible to use the services of an agent who is familiar with the communication channels in your field and where to find interesting profiles of buyers.

How to attract the ideal buyer?

It is about attracting the buyer like any customer by presenting him an offer that allows him to think that he is going to achieve an excellent deal. But to do this, it is necessary to identify the points to be achieved before presenting it to the transferor so that he does not have to tell himself that from the start that he will have to incur many costs to, for example, hand it over to the transferors. standards: the value of your business would be reduced and the price would be lowered and you will not be able to reap the fruits of your labor. In addition, by removing certain deficiencies, you will also be able to attract excellent profiles of buyers.

Likewise, you will need to prepare a well-crafted presentation of your business. The buyer must have confidence in the development possibilities of your business because in the decision to take over it is a major stake. Indeed, the question that the buyer asks himself: “What is the potential of this business?” “. He will want to identify his possibilities, in the short term, the medium term and the long term. You can approach organizations that can help you assess the real value of the business, prepare the communication package, as well as help you select the buyer with their relevant advice.

Select the buyer profile

To find the ideal buyer, you need to establish the profile of the buyer you want to have for the business. You must fully understand their skills, knowledge, background, experiences, but also extra-professional elements (family, relationships, life goals, heritage…). In addition, you must ensure that your buyer is able to take over your business as a manager because the buyer will have to motivate the teams. Nothing worse than to despise your employees who have also been involved for years.

This is the sensitive point of any sale and finding the buyer who will bring new dynamism to the teams must be one of the priorities of the sale. You must also know the financial resources (banks, investment funds, Business Angel, associates,) available to the buyer. Taking over a business is often accompanied by significant financial needs and requires careful consideration of this aspect.