5 Things You Need To Know Before Starting a Business as a New Mom
You just had a baby and are thinking about going back to work scares you. You are nervous about leaving your baby with some stranger. You are nervous that your baby will miss you uncontrollably. You feel in the bottom of your heart that going back to is NOT something you want to but you HAVE TO do. Many people told me that going back to work would help me feel more like a normal human and not “just a mom” or a “milk factory”. To be completely honest with you, going back to work for the first time felt great… for a month! When my babysitter was telling me about new things that my son was doing and I wasn’t there to witness them, I felt a bit broken. My baby was my sidekick for a year and now I had to let someone else discover all the wonderful things that I felt I should be.
Fast forward to today. My baby is now 6 years old and he two younger brothers that keep him busy. Currently I am working from home as a home daycare provider and a virtual assistant. Plus, I am homeschooling my children! It’s been a working progress trying to navigate the home through Covid but there were so many benefits from it as well. Being at home helps me to laser focus into my own dreams and aspirations. As every entrepreneur, I have grand dreams. Sure kids change things, but your passion and your worthiness to achieve those dreams, NEVER change! I always say that your minis are watching you pursue your dreams so if you want to teach them to reach for theirs, you MUST role model that behaviour.
“I always say that your minis are watching you pursue your dreams so if you want to teach them to reach for theirs, you MUST role model that behaviour. ”
Before we go into a business plan, let’s look into what you need to consider prior starting a business. Not everyone can be their own boss. We also need to consider state that being a mother is a lot of work by itself. If you are still interested in learning more, let’s take a look at what you need to know BEFORE making the leap into mompreneurship.
TOP QUESTIONS TO ASK BEFORE STARTING A BUSINESS (AS A NEW MOM):
What are you willing to sacrifice? Scary question to start off with but I wanted to set the tone of this journey. You probably already made sacrifices having a baby, what more could there be? For me, I had to give up TV binging and work on learning something for my business or creating content.
Do you have a good support system? This for me means alot of things. Do you have a partner that will help with the baby so you can make time for the business? If not, is there someone that can give you uninterrupted 3 hours to work? Do you have friends that are already in business and have children that you can ask questions? Is there a networking community in your area or online that would be amazing resources to help you through all the layers of running your business? If your answer is yes to all great! If there were a few “no’s” then may you can find a way to turn them into a yes.
Do you have money to invest? Now you don’t always need capital to start a business. It is good to have some money to invest because it sets you up to know that you need to succeed to turn it into a profit. Also, if you hit a bump in a road, you will need some cushion to help.
Where can you work out of? Through my research of asking mompreneurs, there are many different ways to work. Some moms need a dedicated workspace. Some moms need to be able to move from one area to another depending on the needs of their children. I’ve seen closets turned into an office. I’ve seen dining tables turned in a homeschooling table/ work-from-home station. You can can create a space that will help you focus on your business with as little distraction as possible.
Let’s talk numbers: Depending on your business type/ industry you will need to know a few “numbers” to get started. The first thing is how much is it to register your business wherever you are from so you are a legal business. Secondly, know how much taxes you will have to pay. Where I live in Ontario, Canada, we pay 13% taxes on everything, you may need to charge your client this amount to cover your costs. Next will be to figure out what services/ products you will be selling and how much to charge. There’s a science to this. I recommend to keep track of your receipts and monthly income so that you don’t need to do it annually. Or if you don’t want to do it yourself, be sure to know how much it is to pay someone to do your data management.
Below is a checklist that you can print out and use at your leisure. This is a great tool to use so you have an instant directory of who to call when you run into issues.
“I love that I can set my own schedule, even though it’s a crazy one. I operate on a 24-hour clock where I fit in all facets of my life. Some days look more traditional, 9-to-5-ish, and others flip-flop all day between work and personal responsibilities. The flexibility of being a mompreneur helps me to be both a better professional and a better mom.”
“The best part about being a mompreneur is involving my children in my business and teaching them that being an entrepreneur means hard work and lots of it. My children understand that building a business is a slow process that takes time, energy and quite often sacrifice. They know that failure is only failure if you quit. Instead, they have the practical understanding that failure can be the best thing that happens to you if you pick yourself up, learn from your mistakes and power on.”
However your journey looks, be sure to have a support system and team behind you. I can not tell you enough that it so hard to stay motivated alone. You are worthy of everything you dream of. You can try your best to do absolutely everything (I know I try everyday) but the bottom line is is that sometimes, we do need help. Sometimes we do need to have a support system in place to vent to and get new ideas. You will find your best self through this process and we are so excited that you are thinking about a future that only YOU design.
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