Coming Up With an Idea
With so many potential business ideas, which one should you go with? It all depends on your individual skillset. Mom for More recommends looking into becoming a virtual assistant, a freelance writer or editor, a social media manager, or an e-commerce store owner. Think about which of your interests you could turn into a full-fledged business, and get ready to invest in this passion!
The Planning Stage
Now is the time to outline a thorough business plan. To create your business plan, think about which products or services you will offer, how you want to market your offerings, and how you should set your prices. You’ll also need to consider how much you should budget for tools or materials.
Supplies and Equipment
Maybe you need certain crafting materials to make homemade products for your e-commerce store, or perhaps you need a new camera and photo editing software to get your photography business up and running. Look around for suppliers offering reasonable prices for the materials you’ll need, and if you’re on the hunt for new tech, check out deals offered by retailers and compare prices online.
Marketing Your Business
How do you connect with your very first clients or customers? Through marketing! It’s okay if you’re not too familiar with the basics of digital marketing - eventually, marketing and branding your business will come naturally to you. You’ll just need to spend a little time learning the ropes! To start building a digital presence for your business, Sage Island recommends creating a website for your company and optimizing it for mobile, setting up social media profiles for your business on popular platforms, and investing in a digital advertising campaign. You can also start a business blog on your website to update visitors on new products.
And of course, don’t forget advertising through word of mouth! Let your friends and family know about your new business. They might be able to help you get your first clients, or they may be interested in supporting you and buying your products.
Hiring Staff
If your business starts to grow, you will eventually need to bring a few more team members on board in order to keep things running smoothly. When you’re a stay-at-home mom, you don’t want to cram too much into your day. But before you bring your first employees on board, you need to prioritize getting your payroll off the ground. First, you’ll need to work out a regular pay schedule, and you’ll also need to have all of your employees fill out W2 forms to determine their withholdings. You will be responsible for managing tax reporting records and organizing all of your payroll information. Remember, you’ll need to keep track of IRS deadlines so that you don’t end up paying penalties!
Work-Life Balance
Naturally, maintaining a healthy work-life balance when you’re running a business and taking care of your children can be challenging. The key is getting your support system onboard. For instance, even if your partner also works during the day, you can talk to them to make sure that you’re both on the same page about how you can fairly split parenting duties. Motherly recommends sitting down together, going over your individual schedules, and divvying up tasks based on your obligations. You can aim to get the bulk of your entrepreneurial duties done while your kids are sleeping, whether that means waking up a little earlier, staying up a bit later, At first, this might feel like a complicated balancing act. But over time, you will settle into a routine.
In order to maintain a sense of separation between your personal and professional life, you can also set up a home office. When you’re working in your home office, your partner can let your kids know that it’s not a good time to pop in!
If you’re a stay-at-home mom who doesn’t intend on leaving her professional life behind completely, running a home-based business can be a great way to keep your skills sharp while maintaining a flexible schedule. You don’t need to be a business expert to get a small business off the ground! With these tips, you’ll be making your first sales in no time.
Ready to grow your home-based business? Get involved with the entrepreneurial community The Growth Tactics! Email us today at hello@thegrowthtactics.com with your questions.
