Creating a project is not enough to guarantee its viability. Many initiatives fail not because of a lack of ideas, but because of a lack of structure, method and medium-term vision. If you want to build something that lasts, you need to think of your approach as a coherent set of decisions, taken over time and adjusted according to the reality on the ground. The aim is not to grow fast, but to build right.
Work in entrepreneurial economics, in particular that of the’OECD and the World Bank, show that the projects that survive are those that have clarified their framework, their value-creation rationale and their real constraints at a very early stage.
Entrepreneurship
Entrepreneurship is a process, not a status. It involves transforming an intention into an economic activity capable of operating independently. This transformation rests on three pillars. Understanding a real need, being able to propose a relevant response and setting up an organisation capable of sustaining the effort over time.
Research in management science shows that an effective entrepreneur is not one who does everything, but one who correctly arbitrates between what is a priority and what can wait.
Start with a concrete problem
Every viable project starts with a clearly identified problem. You need to be able to formulate it simply, without jargon. Who is the problem for? In what situation does it arise? What consequences does it generate? As long as these elements remain unclear, the solution is likely to be misaligned.
Studies based on the Jobs to Be Done method remind us that customers do not buy an offer, but an improvement in their situation. In entrepreneurship, this understanding determines the relevance of all subsequent decisions.
Validate before investing
A common mistake is to build on an idea for a long time before testing it in the real world. A viable project needs to be tested early on. Interviews, pre-sales, simple prototypes. These steps allow you to check the real interest and adjust without excessive costs.
Lean management research shows that rapid validation greatly reduces the risk of failure. In entrepreneurship, testing is not an admission of weakness. It is a discipline of lucidity.
Structuring a clear business model
A project exists when it generates sufficient revenue to cover its costs and remunerate the effort involved. So you need to clarify your business model. Who pays. And why? How often? Under what terms and conditions.
Strategy analyses show that simplicity of model favours stability. In entrepreneurship, a comprehensible model is easier to adjust than a complex set-up that is difficult to manage.
Defining a clear offering
Your offer must be effortlessly understandable. What you do, what you deliver, what is included and what is not. Ambiguities lead to friction, lengthy negotiations and disappointment.
Strategic marketing studies show that clear offers improve customer satisfaction and profitability. In entrepreneurship, clarity protects both the customer and the entrepreneur.
Organise your business realistically
The organisation doesn't have to be ideal on paper, but adapted to your actual resources. Available time, skills, energy. You need to prioritise. Production, acquisition, management. Not everything can move forward at the same pace.
Research into work psychology shows that permanent overload is detrimental to the quality of decision-making. In entrepreneurship, a simple, stable organisation is the key to long-term success.
Making decisions under pressure
Entrepreneurship means making decisions with incomplete information. You will never have all the data. You have to learn to arbitrate. Prioritise what has the greatest impact. Postpone the rest.
Daniel Kahneman's work on decision-making shows that cognitive biases have a strong influence on choices made in uncertain situations. In entrepreneurship, slowing down to think often helps to avoid costly mistakes.
Managing with useful indicators
A project is driven by facts. Sales, costs, deadlines, customer satisfaction. You need to monitor few indicators, but the right ones. The ones that reflect the reality of your business.
Studies in performance management remind us that the purpose of measurement is not to control, but to understand. In entrepreneurship, these benchmarks help you to adjust a critical situation without delay.
Developing without spreading yourself too thin
Growth is attractive, but it also entails risks. Adding offers, customers or channels too quickly weakens the structure. You need to consolidate before expanding.
Business strategy analyses show that controlled growth is more sustainable than rapid expansion. In entrepreneurship, growth means strengthening what is already working.
Building a coherent career path
Finally, a viable project takes time. You have to think about your trajectory. Where do you want to be in two or three years' time? Which skills to strengthen. What roles to delegate.
Research into the sociology of work shows that the most solid career paths are based on gradual adjustments. In entrepreneurship, consistency is more important than speed.
There is no magic formula for creating, structuring and developing a viable project. It's a continuous process of observation, decision-making and adaptation. By staying grounded in reality, structuring your choices and moving forward step by step, you increase your chances of building a business that can last and evolve with its environment.
The reminder that a viable project is based on a comprehensible economic model and decisions adapted to reality is a strong point. The section on realistic organisation and prioritising tasks is practical and applicable from the outset.
Good summary of good practice 😉