Being a mom can take up a lot of time and energy, and that makes it doubly hard for those of us that wish to start up their own business. However, it is certainly not impossible. In fact, as a busy mom myself, I can tell you it is possible but it tasks some strategy.
I put together The Busy Mom’s Guide To Starting Your Own Business so you can find out how to do this while making the most of limited time and energy that you have.
The Busy Mom’s Guide To Starting Your Own Business
While, as a mom, you can do anything you put your mind to, remember you can’t do everything! Therefore to succeed in setting up your own business, you will need to direct your time to the tasks that will have the most effect.
One way of doing this to follow the Pareto Principle. This is when you focus on the 20% of tasks that give you the majority of results that are in line with your goals.
What this means is that you streamline your duties much more efficiently, and get more done that actually counts. It’s also something that can help us avoid that creeping mom guilt we get when the house isn’t immaculate, even though we’ve kept the little human alive and happy and had a productive work day!
The idea is that if you can sit down and write down all your tasks for getting a business started, put them in order from most important to least important. The most important become your 20% that you need to focus on. The rest of the 80% gets worked on little by little as you have more free time.
Next, when it comes to setting up your own business as a mom, it’s crucial that you do your research beforehand. This will include research on the type of products or services you will be supplying, as well as research into the demographic that these will be best suited to.
Of course, there will be other areas to get up to speed on as well, including topics such as how to register your LLC, and what information you will need to provide for tax purposes. Luckily, some companies can help you with the paperwork work side of setting your business up. Something that can also help you work to focus on the most essential aspects of setting up your business, as outlined above.
I also recommend you join my Free Boutique Club Facebook group. While it is catered to boutique owners, it is a great resource for how to get started with a business along with other ideas.
Basically, you’ll need to know everything you can about the type of business you wish to build along with how to do it.
It’s vital that you account for childcare when setting up a business as a mompreneur too. After all, while you may be working at home, you won’t necessarily be able to spend that time with the kids, because you will need to keep focused on your business tasks for the day.
That means sometimes having a nanny or babysitter at least for the most intense period such as the startup process can be a wise choice. Although, you will need to remember to factor in the cost of this as well unless its a friend or family member willing to do it for free.
This is one of the most important things to think about when working from home. Luckily, I was able to bring my husband home with me full-time so he could help care for our children while I worked our business. If that isn’t an option for you, then having a very strict schedule is what will help get you through the day and week.
Lastly, one of the biggest hurdles to setting up your own business as a busy mom can be sourcing the funding you need, especially if your business will be primarily online and so rely on tech. In fact, many people choose to bootstrap their business, using personal savings or borrowing money from family and friends to get things off the ground.
Of course, that isn’t something that can work for everyone, and while there are a range of other funding options to try, those that are short on time may prefer to seek help from a peer lending company.
The reason being that their application and pitch process is often a lot less stringent and time-consuming than getting a business loan or seeking out an angel investor. Something that means you can still achieve your funding goals without eating into your limited time and effort reserves too much.
As a mompreneur myself, I have experienced all of these hurdles and more. You can do it as long as you have the drive, passion and resources to help you achieve your goals and get you onto the track of building and owning a successful business.