Guest post by Eva Benoit
If you are a stay-at-home mom, it’s likely you aren’t short on work. However, many stay-at-home parents miss the challenges that come with a job including the financial compensation. What you need is a flexible home gig that allows you enough time to handle your household tasks while helping you contribute to your finances. Having your own business takes passion and a lot of hard work, and with these helpful tips, you can get it done.
Secrets to Success
Starting your own business is always a risky venture, but with the right preparation you can avoid major pitfalls. It takes capital to get a business off the ground and if you don’t already have it on hand, you’ll have to apply for a loan. The better your credit store, the more likely it is that a lender will grant your request. If you need to repair your credit, look into reputable companies that can assist you in the process. Once your current finances are back on track, then you are ready to pursue your small business dreams.
Networking and connecting with other stay-at-home parents who have successfully started a business will give you insider advice that ensures success. Find people in your area with work-specific social networking sites and apps such as Meetup, LinkedIn and Shapr. Not only will talking with other parents provide you with essential advice, you can also make helpful connections that will help your business grow.
Just because you’re into the idea of having a business today doesn’t mean you want to work forever. Make sure to set aside part of your profits for retirement savings. A Solo 401(k) is a retirement account designed specifically for small business owners like you.
Finally, set up a home office where you can get what you need done free from distractions. A home office helps you mentally shift into work mode and improves productivity. Even if you can’t have a whole office to yourself, a simple designated work area with a lot of natural light can serve its purpose.
Home Business Ideas
As mentioned above, you need to be passionate about your business and the service or products you supply. When coming up with your business idea, tap into what you are already interested in and the skills you most enjoy utilizing. Consider:
- Were you a financial aid wizard in college? Offer your application assistance and planning prowess to parents gearing up to send their own children to university.
- If words fly from your fingers when you type, look into freelance writing gigs that pay you for your wordsmith ways.
- Moms who fancy themselves makers can sell their wares on Etsy. Whether you love to make soaps, candies, or handbags, this helpful site acts as a search engine to connect you with buyers looking for what you have.
- Have a green thumb? Turn your backyard garden into a moneymaking venture by selling herbs, vegetables, fruits, or even flowers at your local farmers markets.
- If you always felt like you have healing hands but never really wanted to commit to med school, become a certified massage therapist is a much easier way to help people without going broke paying for training. Massage therapy allows stay-at-home moms to work on their schedules while relieving people of pain and anxiety. You can either set up a soothing massage room in your own house or travel to clients’ homes to provide services.
If you are a stay-at-home mom, but you miss the thrill of a hard earned dollar, consider starting a small business where you can work on your own terms. Proper financial planning is essential, but so is networking with other moms, saving for retirement and setting up a home office. Passion is the key to a successful business.