Are You a Stay-at-Home Mom That Wants to Launch a Business?
Here Are Some Mompreneur Tips

Saying that stay-at-home moms are typically busy can feel like an understatement. That’s why it’s vital to have a plan of attack before you officially start your business.

Ideally, you want to know when and how you’ll get work done before you actually form the company. That way, you can analyze your typical day, identify prime time windows, and determine which tasks fit into those periods.

For example, you may want to handle financial activities during your younger child’s naptime. Your space will be quiet, and you should have enough time to review records and update entries in your tracking software.

If you need longer windows of time, then you may need a plan for tapping your support system. Talk to your loved ones about your goal of starting a company, as well as the hurdles you anticipate facing as you do. Then, ask if they’d be willing to offer support, such as by watching your child for a few hours every week or two, assisting with an errand, or otherwise giving you the time you’d need.

Often, your loved ones want to see you succeed, so they’re happy to lend a hand on occasion. One of our key mompreneur tips is to just make sure that you don’t overburden them and are able to reciprocate in some fashion, keeping the relationship balanced.

It’s normal to be excited about the prospect of launching a business. However, if your enthusiasm causes you to rush, that isn’t ideal. You may make choices that are hard to walk back later, creating a hardship that could hold your company back.

For example, defaulting to a sole proprietorship isn’t ideal. It leaves you at risk since your personal and company finances are entangled. Plus, you may miss out on important benefits.

Consider going with an LLC when you form your company. Usually, LLCs are more flexible and require less paperwork. Plus, they reduce liability and offer tax advantages. Just make sure that you review formation regulations in your state, as they aren’t the same across the US. Additionally, if you file yourself or use a formation service, you can bypass hefty attorney fees, making the process affordable, too.

Another misstep is assuming a trial-by-fire approach is the best idea. While you can learn a lot from making mistakes, a single error could cost you the company. That’s why it’s always better to acquire the skills you need before getting your business moving.

You could head back to school for a business degree to ensure your future success. Online programs are flexible, making balancing all of your responsibilities easier. Plus, you’ll develop your corporate finance, strategic planning, statistics, and human capital management skills, ensuring you can propel your company forward.

If you’re planning on changing careers, working with a mentor can propel you forward. The amazing career mentoring program at Career Redo can provide you with critical mompreneur tips as well as extensive knowledge and resources in your new field.

Starting a business comes with costs, and that can be intimidating. Budget-conscious mompreneurs may be used to finding ways to cut their expenses dramatically. The issue is, you need to make sure you approach it properly.

There’s a difference between frugality and cheapness. Ideally, you need any equipment, system, or software you buy to genuinely meet your needs without unnecessarily cutting corners. That way, you have the right tools to remain efficient and support growth.

Luckily, you can keep costs down while remaining capable by exploring free online tools and software. Solutions like Google Docs, Proofhub, Asana, Skype, Pixabay, and Instasize cover an array of needs without a price tag.

Becoming an entrepreneur from home is an achievable goal, but it’s going to take a lot of preparation. With the above mompreneur tips, you’ll put yourself on the road to success!