Many moms have had to step out of the workforce to take care of their children and families. However, with the evolution of technology and the rise of entrepreneurship, more and more moms are finding ways to balance both family life and running their own successful businesses. Starting a new business may seem overwhelming, but with proper planning, resources, and a determined mindset, becoming a successful entrepreneur can be a viable option for moms who want to get back into the workforce. Here, NMC Coaching provides some tips to get you started.
Recognize New Market Trends
If you want to pursue an entrepreneurial endeavor, you’ll first need to recognize new market trends, including:
● Consumers want on-demand services and products
● More shopping takes place online than ever before
● Digital storefronts are just as important as retail storefronts
With this information in mind, you should come up with your business idea and business plan based on your interests or desires. For example, maybe you can start a new marketing agency, start up a freelance web design company, or do something else entirely.
Just be sure to choose something that accounts for the above market trends!
Consider Returning to School
Before your new business gets off the ground, you might want to go back to school to get an online degree or finish your education. There’s no better time to get a bachelor’s or master’s degree than when you’re laid off or working from home, as you have much more time on your hands. The right degree can give you the skills you need to thrive as an entrepreneur.
How to Start a New Business
Start your new entrepreneurial endeavor by:
● Writing a business plan
● Applying for funding (if needed), such as a business loan
● Hiring any necessary employees
● Buying supplies, like server hosting or product materials
● Choosing a business structure
As you grow your business, consider establishing a limited liability company. LLCs are advantageous as they shield your personal assets from potential lawsuits and offer tax advantages, flexibility, and minimal paperwork.
Ensure you get paid on time for your services by developing a process for invoicing. This can include billing clients immediately after services are rendered and offering them multiple payment options. You can create a branded invoice by using an invoice maker. Choose from a variety of templates and then add your terms, billing info, typeface, and logo.
How Marketing May Make a Big Difference
Starting a business is one thing — making sure that it thrives is another. You can market your business effectively and see stellar results or fail to market your brand and go out of business.
The best ways to market your business include:
● Using SEO (search engine optimization) and other research tools to identify your target audience
● Advertising directly to that audience with social media ads, banner ads, Google ads, and more
● Using email marketing to connect with and build long-term relationships with your core customers
Fortunately, the more you market for your business, the better you’ll get at it, and the more bang you’ll get for every marketing buck you spend. You may also want to bring in a digital marketing agency to optimize your website, SEO, and social media posts.
Also, make sure any marketing graphics or icons are of high quality and well designed; hire a graphic designer if need be. If you do work with a designer, get familiar with a file conversion tool so that it is easier for you to send high quality graphics through email. JPGs are often too large, but a PDF will preserve the quality while lessening the file size. You can easily convert your image format to documents using free online tools. Just drop in the file and the tool will do the rest.
Achieve Your Entrepreneurial Dreams!
Ultimately, it’s more possible than ever before for women just like you to achieve their entrepreneurial ambitions. There are many digital tools and resources you can use to get started. All you have to do is trust yourself, make a plan, and work to achieve your goal!.
If you are stuck and need some help determining what to do next with your life, contact NMC Coaching for guidance!