Is it your dream to start a business? If so, you are not alone. Stay-at-home moms across the country are pursuing their passions by launching successful businesses. With technology making it easier than ever before to start an online boutique, sell flipped furniture, become a photographer, or offer graphic design services, anyone has the ability to become a business owner overnight.
However, while it has become easier to do than in the past, starting your own business is no easy task. Having the right guidance and strategy is essential in getting started, and in sustaining your new endeavor.
Baby Moccs offers these expert tips on how to successfully start your dream business this year.
Establish your “why”
Within the first year, Investopedia reports that approximately 20% of businesses shut down. While not meant to be a discouragement, this figure shows that business ownership is not a breeze. There will be exciting weeks full of sales, but there will also be times that will be far more difficult.
This is why it is so important to establish your “why.” Decide why you want to start this new business. Is it to start a new career? Or to restart your career? Do you want to see if you could find success with one of your favorite hobbies? Whatever your reason, write down your “why” and post it where you can see it every day.
Decide the basics
When you have established the why, it is time to decide the basics.
Set up time to brainstorm everything you’ll need. Forbes explains that this includes naming your new company — as well as creating a service/product menu, calculating a budget, finding your brand colors, and deciding on a timeline for opening. Work on everything you can at this stage, and let your business take shape.
Ask for help
No new business owner can do it all — especially stay-at-home moms. Your days are already full of caring for your children and household. Adding on the duties of starting a business can end up feeling downright overwhelming.
That’s why you need to give yourself permission to ask for help. Whether that means hiring a website designer, a graphic designer, a copywriter, a lawyer, or a virtual assistant, every business owner needs the assistance of other experts.
Get prepared to launch
As you finally get prepared to launch your business, it is important to take care of all last-minute measures.
In addition to changes to your branding, website, and the like, work to ensure that you have all needed certifications and licenses in place. This is especially important if you plan on forming an LLC (which offers you the benefit of limited liability, tax advantages, and much more). If you are forming an LLC, you can skip the massive lawyer fees by filing yourself. Alternatively, you can also use a formation service that allows you to form your LLC in as few as six steps.
Set your schedule
Unlike having a job outside the home, business ownership means that you will be your own boss. Since you’ll be balancing both motherhood and your new venture, it is advantageous to set your schedule in advance. Decide when you’ll need to be with your family (e.g. school pickup, special events, evening dinners), and when your customers/clients will expect you to be available. If you have varying needs on a daily basis, schedule yourself accordingly. Also, set boundaries by selecting at least one “off day” per week.
Whatever you ultimately choose to do, becoming a “mompreneur” can be one of the more exciting chapters of your life. Not only can you pursue your passion (and make money from it), but you can also continue to stay at home with your children and experience the most important moments of their lives.
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