Stay-at-home moms know how to do it all. From being the family chef to being their child’s teacher, full-time moms have some serious skills. So, it shouldn’t come as a surprise that many are using their skills and talents to become “mompreneurs.” If you’ve considered opening your own home-based business, now could be the perfect time to pursue your goals.
Not sure how to make your dreams of becoming a business owner a reality? The experts with Create2Change Consulting share pro strategies for stay-at-home moms who want to explore the world of entrepreneurship.
Choose a business idea that you’re passionate about
Running a business is no easy task. This is even more true when you are managing a household and the needs of your children. While this fact certainly shouldn’t deter you from launching a business, it should serve as motivation to choose a business idea that you are deeply passionate about. When things inevitably get challenging, you’ll be far more likely to stick with something you love to do.
Before officially picking a business idea, take some time to explore what makes you feel happiest. Do you love baking? Or, do you feel most fulfilled when helping companies solve their IT concerns? Be sure that you select something that will make you feel even more excited to get up in the morning, and that will keep you working late into the evening.
Research what paperwork needs to be completed
One of the best things you can do for yourself before starting an at-home business is research what paperwork is essential to complete. This can include filing for a business license, a retail license, a health permit, and the like.
You should also consider the many benefits of forming an LLC for your new venture. This type of business structure gives you enhanced flexibility, tax advantages, and reduced personal liability. When you file yourself, you can save money when compared to working with a lawyer. You can also opt to use a cost-friendly formation service. Prior to filling out the paperwork, review all regulations for forming an LLC in your area, since all states have unique requirements.
Create a daily work schedule that suits your needs
Since you will be balancing your duties as a stay-at-home mom and as a “mompreneur,” now is also a smart time to create your daily work schedule. Setting fixed hours each day will help you quickly and easily get into your new routine. It will also ensure that you allot plenty of time to work on your business.
Once you formally begin your dual career as a stay-at-home mom/entrepreneur, strive to stick with these hours as much as possible. However, when life comes up, don’t feel guilty about having to change things around. One of the best benefits of being self-employed is getting to make your own schedule.
Decide how you’ll get the word out about your business
After you’ve settled all of the core details for your business — and created a product inventory or service menu — you can begin promoting what you offer. Establish a marketing budget, and begin researching your options. Many home-based entrepreneurs use social media ads, social media posts, Etsy promotions, Google ads, and ads in local publications to promote their new business. Word-of-mouth marketing is also an effective strategy.
In addition to creating a solid marketing plan, be sure to explore the most effective methods of selling your products or services. Depending on the type of business you’ll be running, you can set up a Shopify store, sell items at your local farmers markets, invoice new clients through your chosen platform, or create an Etsy store.