One of the toughest yet most rewarding jobs we have in life is being a mom. While there is no monetary value in being a mom, our reward for all the effort, sleepless nights, stress and anxiety in raising our children are rewarded by seeing them grow up healthy, happy and productive members of our society.
So what happens as the kids grow up and we stay at moms have some extra time on our hands? Being a parent does develop valuable skills that are easily transferable to an occupation which does have a monetary reward in the world of entrepreneurship.
For many moms, the thought of stepping into the world of entrepreneurship leaves them anxious and scared. The simple thought of introducing a business into an already busy household can seem overwhelming. The next fear then comes in the form of what type of business to run and where will the money come from to start this business?
We are not going to lie and tell you it’s easy. There are obvious obstacles that must be overcome, but having said that, there are thousands of moms across the country and globally who start this adventure daily. One of the keys to success is starting with the correct frame of mind, a proper plan and then consistency in executing the plan. Below we have put together five-step which will help you choose, plan and start your home-based business for moms.
Home-Based Business for Moms
Since you have proceeded to this step you must already have made the decision that you want to have your own home-based business. You cannot go through this process on the basis of being “on the fence.” You are either going to do it or don’t do it. All too often people “try” to run a business and all that happens is they waste their time and money, and get nothing in return. Not knowing what business you will run is different than not believing in yourself. You are capable of anything you apply yourself too.
There are many resources which you can use to discover what business is right for you. Entrepreneur.com has an entire section on its website dedicated to “Mompreneurs.” This section will share with you ideas and concepts which are home-based business for moms suited just for moms. Some business ideas for moms include graphic design, wedding planning and craft businesses. If you enjoy watching children, a daycare center could be an appropriate business to start.
Another option many moms are choosing is network marketing as it allows ease of start-up, proven products, and the ability to leverage others with experience and success. If this is an area you do choose, make sure to get your questions answered and understand this is a business just like any other. Treating it as a hobby or thinking there will be some automated system that will make money for you online, are just recipes for disaster. A great resource for helping make sense of the network marketing world is Engineered Lifestyles.
If you fail to create a plan, then you are planning to fail. Develop a business plan for your new home-based business. If you need outside capital to begin your new business, a descriptive business plan can help you present your business to investors. Preparing a plan will also give you an idea of how much money your business will have to make before you start making a return on your investment. It will also show you how to position yourself within the market to be competitive with other local businesses.
Developing your brand starts with a name. Depending on the business venture you choose this may or not be required immediately. For instance, if you choose to start a home-based business for moms that is network marketing, you are your brand. Your word and your actions will be what people see on and join your business because of you.
If you start a different type of business in which advertising and marketing will be required, then a name is essential. You will then need to register your business name with your secretary of state. There are fees associated with registering your business and they will vary state by state.
While this step may seem confusing once you start the process it becomes much simpler than it does when you first start. Complete paperwork for any licenses and permits you need to obtain to run your business.
Start by visiting your state’s department of revenue website if you need to obtain a sales tax identification number for selling a product. Go to the Internal Revenue Service website and register for an Employer Identification Number to be used when filing your business taxes. Visit your city government offices to complete paperwork for obtaining a general business license to operate your business in your city. Certain businesses, such as daycare or baking in your home, will require a home inspection to ensure that you are operating your business in a clean, approved area.
One major advantage of starting a network marketing business is this step can be skipped in its entirety. You will not have any employees to pay, no special licenses required and your tax filing can be covered through your personal income tax filings. Once your business grows you have the option of registering it as a business at that point to further save on taxes.
Last on the list of home-based business for moms tips is finding and serving your customers, this is the name of the game for any business. Using the marketing portion of your business plan will allow you to develop the marketing and advertising campaign required to find your customers. There will be a cost associated with this and you will need to develop a budget with is suitable for your needs and capital available.
Some of the options you have available to you will be running ads with local media, advertising online and the use of social media. All options will deliver and help you meet different needs in your business. Understand what those needs are and use the options appropriately. No one media source will deliver all your business needs.
Having a mentor through this entire process will help to alleviate stress and guide you through the steps from start-up to generating income. One last piece of advice is providing excellent customer service as they will be your best form of advertising, regardless of location. Enjoy the experience and love the home-based business you have developed and grown.
* Engineered Lifestyles does not guarantee any level of success or income from the NHT Global Business opportunity or any other money-making opportunity. Every independent distributor’s income depends on his or her own efforts, diligence, and skill. Please see our full Earnings Disclaimer here.