If you have quit your day job to bring up children it can be tough to make ends meet with one fewer paycheck coming to the household every month. But you don’t have to give up work entirely and in fact it is great entrepreneurial experience to run your own business from home to fit the schedule of your children. Here are our Top 5 Tips for business life as a parent:
1. Choose a business idea that can be worked on in your spare time and that you enjoy. Crafting in particular is an excellent choice as there is a big market online for unique jewellery and other creations. If you are creative, there are very few limits to the type of things you can make at home while the children are at school, asleep or playing. Services such as copywriting and web design are also in demand, but you might have more competition in these sectors unless you are really talented and experienced and can stand out from the crowd.
2. Don’t keep putting off the launch of your business. It only takes a few hours to get going and you could be selling your goods or services online – nowadays you don’t even need to know any of the technical stuff and can get your own website, domain and online shop within a few hours.
3. Try not to invest a great deal of money into the business and bootstrap at every opportunity. As you will be operating this business to turn a profit to help pay the bills, any money you are going to put into the setup needs to be justified. A loss making venture is just going to be counter-productive.
4. You might find that there is a bigger market for your products offline because as a parent you will be attending countless functions for your child. Treat all of these as a networking opportunity!
Don’t be pushy about it, but make sure people know what you do. Get some business cards made that you can give to people who ask for your contact details and they might check out your website. Also, if you sell something that is wearable or edible you can easily generate conversation by bringing samples with you and waiting for people to ask where you got it from.
5. If the business gets too big to handle by yourself, bring in somebody to help you out. This is a great way to give work to family and friends and thanks to cloud technology they won’t actually have to come to your house to work either!