Do you want to be an entrepreneur? Launching a home-based business is a great way to bring in some extra income without spending money on childcare or sacrificing those first few years with your little ones to work a traditional job. Many parents have successfully launched lucrative businesses, and you can too! Check out the following tips to get your venture off the ground.
Advance Your Education
Getting a business education can help you become a more effective business owner. Consider going back to school and earning an advanced degree that will teach you key skills in economics, accounting, marketing and strategic planning. An online MBA program may be a great option! With online school, you won’t have to worry about finding someone to watch your kids while you’re in class. You get to learn on your own time and in a way that works best for you!
Research Your Business Idea and Learn About Your Target Market
Before you jump into your new business, take some time to research your idea carefully. Doing market research is essential for gathering information about who your buyers are, what they want and how your competitors are influencing their purchase decisions. Market research is important for determining if there’s a market for your business at all!
Still looking for an idea? Consider some of these business ideas from TheSelfEmployed.com. For example, you could start a craft business, offer consulting or sell your services as a local event planner. You can launch so many different business models from home!
It’s important to determine which demographic of customers is your primary audience. Your target market is the people who have the most to benefit from and the greatest need for your products or services. It’s also a good idea to explore your competitors to see who they’re marketing to.
Find a Family Routine that Works
In many ways, running a business is like raising a new baby. When you also have kids, it can feel impossible to find the time to get everything done. Try to come up with a family routine that feels efficient and comfortable for you. For example, Parents.com suggests pairing things up that work together, like working on your business while your baby naps or tackling some less mentally demanding tasks while your older kids plug away at their homework. It’s also a good idea to keep an organized and clutter-free home to limit stress and improve focus.
Use Technology to Make Life Easier
As you get used to juggling parenting and business ownership, take advantage of a few tech tools to make your life a little more manageable. Certain smartphone apps, like the Baby Tracker app and The Wonder Weeks, can help you track your baby’s developmental milestones, feedings, diaper changes, baths, medications and more.
Other tech tools can help you automate your business. For example, you can use email marketing apps like SendInBlue to schedule email campaigns and keep your customers engaged.
Prioritize Your Most Important Tasks
Knowing how to prioritize your work can help you get the most out of your sporadic work hours. By prioritizing the things you absolutely must get done, you’ll improve your productivity and foster better work-life balance. Focus your energy on tasks that will offer the biggest results. This is known as the Pareto Principle. Because these tasks often aren’t the most urgent, they can get put off in favor of more time-sensitive tasks like answering emails. Urgent tasks that aren’t that important should be delegated or automated.
Go Easy on Yourself
More often than not, you won’t be able to get to everything on your daily to-do list. Don’t beat yourself up over this! The last thing you need is to get frustrated by the things you couldn’t get done. At the end of a long day, think about all those tasks you managed to complete and the time you spent with your kids. You don’t have to spend all day grinding to build a successful business. Take your time, go at your own pace and make space for self-care in your schedule. You will get there in time!
Being a stay-at-home mom doesn’t mean you can’t work. If you’re looking for ways to pursue your passions, earn some money and maintain some sense of your professional life after having kids, launching a home business is a great idea!
