8 Essential Steps You Need to Be a Successful Mompreneur
Written by Leslie Campos
Help Wanted: Successful small business seeks dedicated CEO with planning, scheduling, organizing, and time management skills. Ability to stay productive in a fast-paced environment full of distractions and energetic, sometimes chaotic, youths highly preferred.
Does this job description sound like a perfect fit for you? If you’re a stay-at-home mom, it really is! That’s because as a SAHM, you have already acquired all of the skills and experience you need to run a thriving and successful small business. All you need now are a few tips and pointers on how to get that business up and running. Here are a few, courtesy of Alaiyo Bradshaw:
You Need a Plan…
You plan meals, nap times, schedules, and everything else for your family. Now it’s time to put those skills to work planning your new business. Having a thoughtful business plan will help keep you organized and on track for success. It could also help you snag startup funding.
…and the Right Entity
As you work through your business plan, you should think about what sort of entity is best for your new business. Many entrepreneurs opt to set up an LLC, so they can protect their personal assets and avoid double taxation. You can do this online to save yourself money and time. You just need to double-check the LLC rules in your state since they vary according to location.
Then, You Need a Budget
Another must-have part of your business plan: a budget. If you’re in charge of your family’s budget, this step should be a snap. You can use apps to make building a budget and keeping up with expenses, etc., easy. If you’re using the same apps (such as Mint) for your family finances, you should make an effort to keep business and personal budgets separated.
A Home Office is Helpful
You should budget for a dedicated home workspace. This task can be simple, too, especially since there are so many ways to cover the costs of a home office if you need to add space or remodel an existing room in your current home. This guest post goes over eight of these options in more detail, so be sure to check it out.
So are Grants and Loans
A loan can be useful if you need to rework your home to set up an office. However, you can also use loans to set up your new business. You could take out a personal, business, or SBA loan to help fund your idea. Taking out a loan isn’t the only funding option, as well. Since you’re a female entrepreneur, you can also apply for special grants set up specifically for women in business.
Marketing Will Be Crucial
You need to get the word out about your new business! Marketing can seem pretty intimidating if you’ve never done it before, but there are so many guides and tools online to help you. For example, you can use neighborhood sites to offer special discounts to folks who live nearby. This can be a cost-effective and effective way to market any home-based small business.
Social Media Can Help
Technically, sites like NextDoor are a form of social media, but you should also be putting your other accounts to work. One of the best platforms for mompreneurs to market their businesses is Instagram. Posting high-quality images (work with Alaiyo for stunning imagery!) and making the most of Instagram LIVE will help you grow your following and bring in sales for your business. Remember to link to your business!
Finally, You Need Balance
Running a successful new business will take up more of your energy and time, so you also need to prioritize self-care. This is one step that many entrepreneurs try to skip, but doing so can quickly lead to burnout, especially when you’re a busy parent.
You’ve got the drive, the skills, and the experience to be a successful business owner. Now, combine those SAHM talents and skills with the steps above, and you will be well on your way to thriving as a mompreneur. Just remember to take time for yourself on the path to success!
Photo Credit: Pexels