If you've come to this article, it's probably because you're thinking about embarking on an entrepreneurial adventure.
I'm Alexandra, the creator of Mayrena Paris. I'm delighted to share this step-by-step guide with you. Whether you have an idea in mind or are still looking for inspiration, I'm going to give you some practical advice that I followed myself when launching my brand.
1. FIND YOUR IDEA
The first step in launching your business is to find an idea you're passionate about. Combining passion and work is essential: you have to love what you do in order to devote all your time and energy to it. Start by making a list of your skills, interests and experience. This will enable you to identify market needs and develop your idea in a relevant way.
In my case, this actually came naturally. I've always created jewelry, which I started offering, then selling as the quality I offered and the self-taught know-how I acquired grew.
2. STUDY THE MARKET
Once you've defined your idea, it's crucial to examine the market. Who are your competitors? What do they offer? What will set you apart? Who are your target customers? I advise you to do some research online and on social networks. Thanks to Insta ads which, once you click on a proposed ad, show you the 10 competing brands in the stories afterwards! You can also read articles and reports about your industry. Talk to experienced entrepreneurs: their advice can be invaluable. But still have a precise knowledge of the market. If you've landed on this article, it's probably because you're considering embarking on an entrepreneurial adventure. I'm Alexandra, the founder of Mayrena Paris. I'm delighted to share with you this guide that will guide you step by step on this exciting journey. Whether you have an idea in mind or are still looking for inspiration, I'll give you practical advice that I used when launching my brand. 1. FIND YOUR IDEA The first step in launching your business is to find an idea that you're passionate about. Combining passion and work is essential: you have to love what you do to dedicate all your time and energy to it. Start by making a list of your skills, interests, and experiences. This will allow you to identify market needs and develop your idea in a meaningful way. In my case, this actually came naturally. I've always created jewelry, which I started giving away, then selling gradually, as the quality I offered and the self-taught expertise I acquired improved. 2. STUDY THE MARKET Once you've defined your idea, it's crucial to examine the market. Who are your competitors? What do they offer? What will make you stand out? Who are your target customers? I recommend doing some research online and on social media. Thanks to Instagram ads, which, once you click on a featured ad, show you the 10 competing brands in the following stories! You can also read articles and reports on your industry. Talk to experienced entrepreneurs: their advice can be invaluable. But still, have a detailed understanding of the market. 3. WRITE YOUR BUSINESS PLAN A business plan is a strategic document that will help you structure your project. It should allow you to present your business in a clear and convincing manner. Here's an example of a business plan for Mayrena Paris: What are your products or services? Quality jewelry, mostly made in France, with clean, minimalist designs. How will you attract people to your brand? Develop my online presence (e-commerce site and social media like Instagram, Facebook, Pinterest) and establish partnerships with retail stores. What is your business objective? Offer fewer jewelry items, but more quality, to meet the needs of my customers. What are your brand values? Promote ethical and responsible jewelry, showcasing French craftsmanship. How will you generate revenue? By establishing partnerships with retailers and selling directly on the mayrena.paris website. Why do people choose your brand? Unique and minimalist designs. French craftsmanship. Ethical commitment. 4. CHOOSE YOUR LEGAL STATUS Choosing your legal status is a fundamental step in starting a business. Here are some options depending on your situation: Are you starting out on your own with few fixed costs? → Micro-enterprise Do you want a scalable and attractive structure for investors? → SAS (Simplified Joint Stock Company) Are you looking for a good balance between independence and security? → EURL/SARL (Limited Liability Company) 5. DEFINE YOUR BUDGET Now it's time to take stock of your budget. How much will it cost to launch your project? Do you need a loan or investments? For my part, I started with a €15,000 loan, which I was originally supposed to invest in my master's degree. I preferred to learn on the job. I invested half in my first production (which seemed enormous at first) and the rest in administrative and other fixed costs. 6. CREATE YOUR VISUAL IDENTITY A strong visual identity is essential. Consider elements such as your logo, colors, and typography. Use CANVA or Illustrator to help you. 7. DEVELOP YOUR ONLINE PRESENCE Word of mouth will get you your very first customers. But today, the internet is essential. Whether through a website or an e-commerce site, define your communication strategy and show off your business's behind-the-scenes story: it's a hit on social media! 8. BUILD YOUR NETWORK Participate in events, join entrepreneur groups, and contact professionals directly via social media. LinkedIn will be your ally! 9. STAY MOTIVATED Starting your own business isn't always easy. It takes courage to take the plunge. Throughout your journey, you'll experience ups and downs, but each step allows you to move forward. 10. DON'T FORGET TO TAKE TIME FOR YOURSELF Starting a business is a bold adventure, but also a stressful one. It's easy to get overwhelmed by work. Take time to see your loved ones, do what you love, and recharge your batteries. Taking care of yourself also means taking care of your business. I hope this article helped you! Alexandra 🤍
3. WRITE YOUR BUSINESS PLAN
A business plan is a strategic document that will help you structure your project. It should enable you to present your business in a clear and convincing way. Here's an example of a business plan for Mayrena Paris:
What are your products or services? Quality jewelry, mostly made in France, with clean, minimalist designs.
How will you attract people to your brand? Develop my online presence (e-commerce site and social networks like Instagram, Facebook, Pinterest) and establish partnerships with reseller boutiques.
What is your company's goal? To offer less jewelry, but more quality, in order to satisfy my customers' needs.
What are your brand values? To promote ethical and responsible jewelry, highlighting French craftsmanship.
How will you generate sales? By establishing partnerships with retailers and selling directly on the mayrena.paris website.
Why do people choose your brand? Unique, minimalist designs. French craftsmanship. Ethical commitment.
4. CHOOSE YOUR LEGAL STATUS
Choosing your legal status is a fundamental step in setting up a business. Here are a few options depending on your situation:
Are you starting out on your own with few fixed expenses? → Micro-entreprise
Do you want a scalable structure that's attractive to investors? → SAS
Are you looking for a good compromise between independence and security? → EURL/SARL
5. DEFINE YOUR BUDGET
Now it's time to take stock of your budget. How much will it cost to launch your project? Do you need a loan or investments?
For my part, I started with a loan of 15,000 euros, which I was originally going to invest in my Master's degree. I preferred to learn by doing. I invested half in my first production (which seemed huge at first) and the rest in administration and other fixed costs.
6. CREATE YOUR VISUAL IDENTITY
A strong visual identity is essential. Think about elements such as logo, colors and typography. Use CANVA or Illustrator.
7. DEVELOP YOUR ONLINE PRESENCE
Word-of-mouth will get you your very first customers. But today, the Internet is a must. Whether it's through a showcase site or an e-commerce site, define your communication strategy and show what's going on behind the scenes at your business: it's all the rage on social networks!
8. BUILD YOUR NETWORK
Take part in events, join entrepreneurial groups and contact professionals directly via social networks. LinkedIn will be your ally!
9. STAY MOTIVATED
Starting your own business isn't always easy. It takes courage to take the plunge. There will be ups and downs along the way, but each step will help you move forward.
10. DON'T FORGET TO TAKE TIME FOR YOURSELF
Starting a business is a daring adventure, but it's also a stressful one. It's easy to become overwhelmed by work. Take time to see your loved ones, do the things you love and recharge your batteries. Taking care of yourself also means taking care of your business.
I hope this article has helped you!
Alexandra 🤍
