A growing trend in America today is the desire to work from home. What could
be better than getting up in the morning, pouring yourself a cup of coffee and
walking to your home office in your pajamas? Many women consider this a great
opportunity to stay home with their children and still contribute financially to
the family. Others are fed up with the long commute to the office and want less
hassle in their lives. There are advantages to working from home. However, there
are things to consider before jumping into potentially perilous waters.
"Don't wear all the hats," says Robin Zell, CTA of
Just Girl Trips,
emphasizing the need to outsource some of the responsibilities of running a home
based business. "I often hear of moms starting home based businesses and
immediately using their precious capital to pay for occasional child care so
they can get things done.
"Why spend five hours doing something when you could pay someone who knows
what (he or she is) doing to get it done for you in much less time? Then you can
have that time with your children and probably spend a lot less money on the
professional service than on child care or babysitting.
"Do the math before you pack your kids up and send them off to an expensive
day-care center. Make a list of all of your responsibilities in running your
company and rank them in order of your skill level." Those that fall at the
bottom of the list should be considered for outsourcing, says Robin.
Don’t expect to make a living from your business for at least three years.
Be ready for the unknown expenses that can cut your entrepreneurial dream short
if you are not well-prepared.
Prepare a well-thought-out business plan before opening, whether or
not you plan on obtaining a business loan. Business plans help you look at all
angles of your business and the expenses associated with them. Costs for a
website, domain, marketing materials, membership fees, phones and office
supplies all add up.
Become good at selling yourself. Because you are working out of your
home, it is more difficult for people to know about you. So get out and sell
your business. Create your one-minute "elevator speech" and share it with
everyone you meet. Informal marketing is inexpensive and a great way for people
to hear your passion about your company. The more you do it, the easier it gets.
Don’t mix your work area with your home space. A separate workplace
will help you keep your sanity by providing a haven for focusing on your
business. You can also shut the door behind you at the end of the day so you can
have dedicated family time. There are also key tax advantages, which should be
explored with your accountant.
"Set a schedule," recommends Susan Scheid of
OptionCart.com. “It
doesn't have to be a traditional 9-to-5 schedule. In fact, if you have kids in
the house, it probably can't be anything that resembles traditional. Try setting
a schedule that fits your needs, and remember that if you work three or four
two-hour blocks throughout the day for six days, you can still get 40 hours in.”
"Roll with the punches," says Leslie Haywood of
Charmed Life Products, LLC.
"This ability is a necessary trait for both entrepreneurs and mothers. Mothers
master this skill out of necessity because, with our first child, we learn to
expect the unexpected. We can’t predict what night our newborn will decide to
sleep through the night and which night we’ll be up 10 times. Our businesses are
a lot like our children."
Running a successful business while also raising a happy and healthy family
is rewarding. Only you can determine the pros and cons and the impact on you and
your family. There are also many resources available to help guide you through
the entrepreneurial jungle, among them SBA.com
and SCORE.org.
Research your business idea, and don’t rush into any business endeavor. Then you
will be better prepared for future success.