Starting a business can be an extremely exciting and stressful time, especially if you are a parent. Being a mompreneur can be difficult, but it is definitely fulfilling and eventually can help you gain the work/life balance you desire. Whether you are just starting out, or are looking for ways to make your venture more successful, try the five tips listed below.
1. Go into Business for the Right Reasons
While making money and ensuring your financial future are often motivating factors when starting your own business, they should not be the only reason for your business creation.
It takes discipline and knowledge of the industry, along with passion and heart to succeed. Your business sense might get you going, but your drive and fortitude will keep you going. Without this passion, you are more likely to experience burnout. While it is important to come up with an idea that can make money, blend it with something that you are passionate about.
2. Keep it Structured
A structure is even more vital to a business when you are juggling the demands of starting a company with your home. A well-defined structure and schedule, including regular duties and activities, will allow you to run both your household and your business more efficiently. It can also be beneficial to pre-plan as many things as you can, such as meals. This can help alleviate stress and allow you some wiggle room.
3. Designate an Office and Minimize Distractions
If you work from home, you will need to have an area that can be dedicated as an office to limit household and other distractions. While minor distractions are hard to avoid, continuous or major distractions can set you back and cause you to lose focus. Start by setting up a work area and, if possible, specific hours that are specifically designated for business.
4. Develop a Support System
People who try to go it alone get burnt out. Part of being successful means finding people you can trust to support you. It also means balancing duties you need to do with duties you might get help with. Start with setting up the responsibilities between you and your partner, and if you can afford to, consider outsourcing cleaning and other time-consuming chores. If your business becomes demanding, or requires more attention to detail than you can provide, consider getting an assistant who can help you stay on top of both the business and the household.
5. Find a Mentor if your Motivation Flags
Always have realistic expectations when you decide to become a mompreneur and realize that you will not be an overnight success. Always try to remember the positives and the rewards. If you find your motivation faltering, consider finding a mentor. Look for other moms that have had succeeded and ask them questions, including how to stay motivated.
Take the first step to mompreneur success by coming up with a plan, communicating with your family about how everything will work, and following the tips above. By planning ahead and knowing that struggles are inevitable, you will have more realistic expectations for your company and be able to start your business with a solid foundation.
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This content is developed from sources believed to be providing accurate information, and provided by Kelly Financial Planning. It may not be used for the purpose of avoiding any federal penalties. Please consult legal or tax professionals for specific information regarding your individual situation. The opinions expressed and material provided are for general information, and should not be considered a solicitation for the purchase or sale of any security.