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Starting a business is nothing to take lightly, but these days it’s easier than ever to become your own boss. With advances in technology, we’re now able to use crowdfunding, social media and e-commerce sites and smartphone apps to build a business from the ground up and nurture it into success from the comfort of our own homes. Because of this, many different types of people are becoming entrepreneurs, from those who are living with a disability to stay-at-home moms.
The latter group has a different set of challenges than others in that a parent who stays home with their child needs to split their time between their responsibilities at home and the ones that await them at work, and that can be hard to do when you’re on your own. Not having a boss looking over your shoulder is great until you need that motivation; it’s even harder to find when you’re stressed and tired from taking care of a cranky toddler. However, there are many ways you can find success as a business owner without sacrificing time with your family.
You may already have an idea of what you want your business to be, but if not, it’s important to consider how much money, time and effort you’ll be able to put into it. Startup costs are one thing; it’s another to run a company while making sure your mortgage gets paid on time. It’s a good idea to have some cash in the bank to ensure that you’re not struggling to make ends meet while working on your dream. Once you have an idea of where you want to begin, do some research on your potential competitors to find out their business model. This will give you an idea of what to expect.
Many new business owners need to find funding before they can get started, or they need it when they’re looking to grow their business. Start with a company like Bank of America, which lends to about 3 million small businesses and offers several different types of financing. Review this guide to determine which type of financing will meet your needs, from a business credit card to a secured loan.
It’s not always easy to find balance between the two halves of your life, especially when you have children to take care of, but it’s essential to do so when you’re working from home. This is because it’s all too easy to keep working long past any cutoff point simply because your workspace is at home. This can lead to burnout and less time spent with your loved ones. Instead, create boundaries at your home office, setting a goal not to answer work emails or do anything job-related after a certain time.
The Social media can definitely help you grow your business, but you’ll need to be careful about how you approach it. There are specific ways in which platforms such as Facebook, Instagram and Twitter can help you find an audience. It’s important to get to know what their algorithms are so you can not only find your audience, but also reach them on a targeted level.
Starting a business as a stay-at-home mom can be a challenge, but it doesn’t have to be stressful. With a good strategy, you can build your business your way and ensure success from the very beginning using all the tools at your disposal.