As more and more women choose to both stay home with their kids and start a career, we’ve learned a lot about how to make both of these successful. If you’re just starting your own mompreneur journey, keep reading.
Here, we’ll take a few moments to cover some essential topics, such as forming your business structure and how to stay productive with Mickey Mouse blaring in the background.
Getting It Together
Becoming an entrepreneur is not a single event. Rather, it’s the collective result of steps you’ve taken to ensure your financial freedom. A great place to start is by inspiring yourself to be and do the things you want, and there are few better ways to do so than by reading. The Fiscal Diet blog has covered the topic of personal finance books before and recommends a number of works that can help you get into a growth mindset.
Something else you’ll want to research is the different types of businesses and business structures. You have many options, from selling makeup and jewelry to becoming a consultant within your current industry. As for business structure, the majority of small businesses will benefit from forming an LLC. You can use an attorney or not, but it’s not a difficult process. Before you decide on any business structure, make sure that you understand the benefits — flexibility, asset protection, tax advantages — as well as the rules and regulations in your home state. Another administrative task is to open a business bank account.
One of the greatest challenges of being a work-at-home mom is networking. It pays to get acquainted with the organizations in your area. There are plenty of business networking events, although some may have turned virtual since COVID. When you do visit in person or online, know how to overcome the awkward first meetings by introducing yourself. If you visit in person, bringing another professional lady so that you can feed off of each other’s energy.
Also, don’t be afraid to let your friends and family know about your new endeavor. After each new interaction, make a point to follow up. Vertical Response suggests making a connection on LinkedIn and pointing out how your businesses can be mutually beneficial.
Productivity is another hurdle that you have to learn to leap. We can’t lie here — it’s tough when you have little children at home. But if you want to carve out success, you have to find a way to keep moving despite distractions. Work-From-Home-Depot offers many suggestions, including setting a schedule, keeping your work area tucked away from the rest of the house, and perhaps most importantly, setting rules so that your family understands when they can interrupt and when mom is off-limits.
It might also be wise to partner with other moms in your area to swap daytime childcare so that you are not tempted to put your toddler in front of the TV screen.
A Balancing Act
As you become a master of productivity, you’ll soon realize that the scales tend to get imbalanced. This is where you’ll have to learn to walk in both worlds — and sometimes, at the same time. Be cautious here, however, that you don’t put your family on the back burner in pursuit of financial freedom. Remember: Money doesn’t make you happy, and you should prioritize time with your friends and family. If nothing else, this will help you remember why you worked so hard in the first place.
As a working mom, your plate is full all the time. But you’ve got this! As long as you ease into it, learn how to stay productive, and network early and often, you’ll have no trouble getting your business off the ground and moving.
For more valuable nuggets of wisdom like this article, visit The Fiscal Diet!
About the Author
Leslie Campos hopes to provide relief and tips for other busy parents through her site Wellparents.com. Parents can find a variety of information from stress-busters to exercise ideas to healthy eating tips.