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5 tips for mums wanting to start a business

5 November 2012 One Comment

I started my first business after I had children and found that my job just didn’t fit with my new life. If you find yourself in the same situation, here are some tips to help you:

  1. Decide what you want from a business. If you want the equivalent of a full time income you need to approach it differently from if you just need a hundred pounds a month to top up the family budget. Using party plan as an example, you may be able to supplement the family income with a few parties a month, but in order to earn a full time income you might need to recruit and lead a team.
  2. Look at your skills and experience and see if you can use them. I’ve spoken to several mums who went into direct selling or bought a franchise because they assumed they had to do something completely different from what they’d done before. Using your existing skills can be the fastest way to start generating an income.
  3. Develop a Niche – be unique and different. Look at competing businesses and be clear about how your business is different. It might simply be that you are bringing something new and different to your area, or it may be the way in which you offer a service.
  4. Look at the times you have available to work, your childcare and family situation. Helen says, “I considered running children’s parties, but realised that in the time I’d kept my kitchen clean enough to satisfy the local council’s environmental health team, I could have worked on an online business instead!”
  5. Look at your business model – does it just depend on trading time for money. This can be a problem if you are a time-poor mum! If you have a skill that people will pay you for, that’s great, but look at ways of making it available that doesn’t just depend on you putting the hours in – think e-books, online courses, tip sheets, group teleclasses.

Five places where you will find more help:

 

One Comment »

  • Tara said:

    Very nice tips. I really agree that you should take time to look at your skillset and to find a way to use them in an advantageous way. We all have experience and skills, but I also think we should look where our passion(s) reside also; there could lie a ‘hidden’ skillset.

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