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Description
Programme
Turning an idea into a business
Finding a business idea, developing an idea into a product, and selecting a business model
Learning methods: Virtual class / Autonomous learning
Content:
- Creating a business: the key stages
- Confirmation of the project: state of mind to adopt to make progress and take action in stages
- Conventional project design vs Lean Start-up: what you need to remember about this method
- Introduction to the Business Model Canvas (BMC): validating the activity model using nine building blocks and a few post-its
- Practical implementation and review of participants’ value propositions
Validating your market
Knowing one’s clients and competitors, and finding out if there is a market for one’s solution
Learning methods: Virtual class / Autonomous learning
Content:
- “I know nothing”: the right state of mind for discovering your market
- Why projects fail
- The conventional way of launching a project
- The cognitive biases that are extremely frequent among entrepreneurs
- Some theory: quantitative study vs qualitative study
- Scientific entrepreneurship
- Why projects fail
- Defining the hypotheses to be validated
- Client hypotheses and problem hypotheses: Who are your clients? What kind of problems can you solve for them?
- The three golden rules for a problem that needs to be solved
- Exercise: drafting your hypotheses
- Client hypotheses and problem hypotheses: Who are your clients? What kind of problems can you solve for them?
- Analyse your environment
- Documentary research, desk research
- Analysis of your competitors
- Examples of using online tools
- Documentary research, desk research
- Constructing your questionnaire and finding respondents
- Creating your client/problem questionnaire
- Exercise: drafting your questionnaire
- Identifying your first clients or early adopters
- Finding respondents: release the power of your network and take advantage of online opportunities
- When should you stop your interviews?
- Measuring the validation of your hypotheses
- Creating your solution questionnaire
- Present your solution: measure how closely your solution matches your clients’ problems
- Test your sales price
- Creating your client/problem questionnaire
Business Plan
Drafting a solid business plan and knowing what aid is available for creating a business
Learning methods: Virtual class / Autonomous learning
Content:
- Know how to draw up a business plan: when? why? how?
- Structure of a business plan (market study, marketing strategy, financial plan, etc)
- Adapting your business plan to your objective (obtaining funding, convincing your boss, see where it takes you…)
- The prerequisites of a good business plan
- Case analysis: good and bad practices in a business plan
Financing your activity
Defining a financial plan and convincing your bank
Learning methods: Virtual class / Autonomous learning
Content:
- Defining a financial plan and convincing your bank
- Aim of the financial plan, and the stakeholders: why draw up a financial plan and who for?
- Understanding the business plan tool
- Foreseeable direct and indirect charges
- Foreseeable investments
- Turnover construction and forecast
- Carrying out the financing plan
- Analysis of the financial plan: profitability, cashflow and financing
- Aim of the financial plan, and the stakeholders: why draw up a financial plan and who for?
- Interview at the bank - introducing yourself and your business, present your case, convince your banker
- Preparing for the interview
- Presenting the project, the need, etc.
- How to present well (personal SWOT analysis)?
- Presenting your case at the interview in order to convince the other party
- Brief presentation of financing solutions
- Tips and recommendations on maintaining good relations with your banker
- Preparing for the interview
Selling and defending the value of your offer
Better presentation of the value of what you sell when you are prospecting
Learning methods: Virtual class / Autonomous learning
Content:
- What is a good approach to sales?
- Assessing a sales conversation
- Matching purchasing cycles with sales cycles
- How does a client buy?
- Exercise: Selling the value of one’s own company
- Face-to-face sales skills
- Concrete action plan
Marketing & Sales
Setting up a commercial strategy for finding clients
Learning methods: Virtual class / Autonomous learning
Content:
- How to create online and social media presence
- Which channels to use, depending on segment
- How to distribute the product
- The stages a prospect goes through before generating income (AARRR and Sales Funnel models)
- How to sell in the digital era
- Which client relationship to set up? How do you want to serve the client?
- How to deliver the product
Accounting and Finance
Bookkeeping and knowing the basics of financial analysis
Learning methods: Virtual class / Autonomous learning
Content:
- Understanding accounting and bookkeeping entries
- Drawing up a balance sheet and a profit and loss account
- Commenting on one’s balance sheet notes
- Analysing a financial situation
- Knowing the basics of management control
- Assessing an investment or an opportunity
- Budgeting, drawing up a financial plan
- Knowing the main management software suites
Regulatory framework
Knowing the main legal obligations of the entrepreneur and acquiring basic knowledge of company law
Learning methods: Virtual class / Autonomous learning
Content:
- Introduction and general principles
- Liability of the executive
- Who is liable?
- Liability of the executive/the business
- Distinction between the different types of liability (civil, criminal, fiscal, in the event of insolvency)
- Who is liable?
- Basics of commercial law
- Law of contract: basic principles and commercial contracts
Regulatory framework - specifically in relation to taxation
Acquiring basic knowledge of business taxation in the Grand Duchy
Learning methods: Virtual class / Autonomous learning
Content:
- Definition of ‘tax’ and difference from other deductions
- Sources of Luxembourg law, legal and regulatory framework
- Organisation and role of tax authorities
- When is a company liable to pay taxes in the Grand Duchy? Start of tax obligation, residence for tax purposes, and substance
- The tax year and important tax events for the company in the course of the year:
- Accounting and estimate of tax provisions
- Tax return
- Advance payments
- Tax statement
- Tax return
- Corporate income tax (IRC) and municipal business tax (ICC): determining tax + overview of the tax return
- Net wealth tax (IF): determining tax + overview of the tax return
- Some of the tax advantages available
- tax relief
- intellectual property
- tax relief
- Topical points: BEPS - ATAD - Transfer Pricing - DAC6
- Basic VAT mechanisms*
- Detail of operations covered by VAT
- Rules on location and taxation
- Administrative formalities with regard to VAT
- Detail of operations covered by VAT
Target audience
- Employee with appropriate skills who wants to become his/her own boss
- Promotor of a project already in creation stage
- Creator who already has a specific business plan and is mainly looking for guidance in choosing the right structure and the easiest way of completing all the procedures
- Short-term jobseeker who wants to create a business
- Employee looking for a radical career change who wants to create a business but has no specific project
Objectives
Upon completion of the course, participants will be capable of:
- Finding a business idea, progressing from idea to product, and structuring a business model
- Knowing one’s clients and competitors
- Constructing a value proposition
- Drafting a solid business plan
- Knowing what aid is available for creating a business
- Financing the creation of one’s business, and convincing the bank
- Knowing the administrative procedures and understanding the basic principles of the right of establishment
- Managing bookkeeping and knowing the basics of financial analysis
- Knowing the main legal obligations of the entrepreneur and acquiring basic knowledge of company law
- Mastering the basics of business taxation in the Grand Duchy
Modalités
Support de cours
Le support de cours sera délivré en début du cours.
Certificate
Upon completion of the course, participants will receive a certificate of participation issued by the House of Training.
Lieu
L-1615 Luxembourg
Luxembourg