Being a stay-at-home mom involves making many sacrifices. You can’t be a part of the workforce anymore, for example. But when one door closes, another door opens.
Spending time with your children and watching them grow up is a gift—and not being a part of the workforce leaves you free to launch your very own business! Sometimes things happen for a reason, and you could end up being more successful than you ever dreamed possible.
In this mini-guide, My Girly Names offer pointers on launching a home-based business as a mom while maintaining a good work-life balance:
Flexible home-based business ideas
Being a mom will have to come first, undoubtedly. That means you need a business that doesn’t leave you chained to your work desk 24/7. Also, you may want something that doesn’t require too much time and money investment, at least initially. You may have ideas about what you want to do already—you know what’s best for you, so they’re all worth exploring.
To help you along, here are some flexible suggestions:
- Creative and Artisan products: You could craft and sell your own products. There are online marketplaces like Etsy where creatives and artisans display and sell their wares.
- One-person services: You could use a marketable skill to provide a service to others. Some examples include freelance writing, tutoring, consulting, pet-sitting, and catering.
- Marketing and advertising: Marketing and advertising can be very lucrative. Starting your own site and generating money through AdSense or affiliate marketing are options worth exploring.
How to get started
Starting a business isn’t as hard as you think. Here is how you can get started:
First, it’s important to look inside. What would you like to do? What skills do you have? The perfect business idea would be something that aligns with your interests, skills, and previous experiences. Don’t let the lack of skills or experience hold you back, though—what you don’t have can be acquired.
2-Do market research
Too many businesses fail due to a lack of market research. There needs to be adequate, long-term demand for a business to be successful. Spend some time researching market conditions and identifying your ideal customers.
3-Focus on your finances
Your finances are the fuel for your business. You need enough liquidity to get you off the ground and stay operational for at least a few months. Figure out how you’re going to support your business—loans, grants, and your own savings are all options. To better manage your finances, implement an accounting system from the start. Consider online software for bookkeeping that will help you keep track of your income and expenses, your bills, accounts payable, and your cash flow projections. The ideal platform also organizes your tax information, which will make it easier for your accountant come tax time.
4-Cover the legalities
There are several legalities to attend to before you launch. Some of them are registering your business, acquiring a license (if applicable), getting insured, setting up taxes, and following work-from-home guidelines.
Tending to the legal requirements of setting up your business is likely going to require some digital document work. Be sure that you have the necessary tools available to edit documents as you may need to. If, for example, you need to convert a PDF to Word document, it’s a good idea to have that ready. It will make responding to filing requirements much more straightforward.
5-Consider your business structure
By default, you’re a sole proprietorship in the US, so you may want to look into forming an LLC. It protects your personal assets in the event you’re ever sued. Other benefits are easier paperwork, some tax breaks, and extra flexibility. You can use a formation service to register your LLC—it’s cheaper than hiring a lawyer and more convenient than doing it yourself. States have different rules about LLCs. Check your local laws before moving ahead.
Maintaining work-life balance while looking after your kids
Setting up and maintaining a business is time-consuming and energy-intensive—and you have to do it while looking after your kids. Here are some suggestions for managing both without dropping the ball on either:
1-Have a routine
Having a routine, as you likely already know, is important for your kids. It gives them a sense of structure and stability. It’s also important for your business. A schedule can help you optimize and prioritize tasks. You only have so many hours in the day, and you have to use them productively.
2-Learn patience and flexibility
You will need to be adaptable to juggle your responsibilities toward your business and kids. Things rarely go to plan. Your kids may demand attention at inopportune moments, for example, or you may hit an unexpected roadblock with your business. Learning how to respond instead of reacting and how to focus quickly after being distracted are essential skills for business owners.
3-Use apps and services
There are countless apps out there that you can use to set up, improve, and automate your business processes like bookkeeping, marketing, and customer care. It pays to research options in your niche. Using the right apps will free up your time and make you more productive.
4-Ask for human help
You may need human help from time to time. You could always consider asking friends and family to help you set up your business or look after the kids on particularly busy days. Also, there are services or freelancers you can hire for particularly complex tasks or just day-to-day assistance.
Being a successful mompreneur will be a challenge, but it’s doable. There are many stories of mompreneurs who built successful businesses from their homes you can draw inspiration from. Keep moving forward, never give up, and don’t settle for anything short of success.
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