Stay-At-Home Moms Can Start A Successful Business With This Guide

Written by Eva Benoit

Starting a business from home may seem like a far-off dream to some, but it’s actually quite attainable these days. For many moms, becoming an entrepreneur is the perfect way to find success doing something they love while taking care of their families; however, it does require balance. 

First, it’s necessary to look for resources and support as you get started, and For Us Nation is a great place to begin, as we offer mentoring, a marketplace, and a blog to help spread the word about Black-owned businesses. You’ll also want to think about how to achieve the best business model for your needs and create a plan for working from home, which takes a little finesse. Read on if you’re considering a leap into entrepreneurship.

Looking to reach out and make connections with other business owners? Check out the directory below

Plan for Legitimacy

Many small business owners have come to realize the benefits of forming an LLC, or Limited Liability Company, which can help protect your personal assets. The process of formalization may sound complicated at first, but you can find step-by-step instructions on how to get started with LLC company guidelines and all the advantages that come with formation online. Different states have different rules, so keep this in mind and check out the regulations for your specific area. The costs associated with filing paperwork can vary, but you can save yourself some money by taking care of it yourself or going through a formation service rather than an attorney.

Identify your Business Model

Just as important as protecting yourself from liability is making sure you have a sustainable, successful business model. Do some research online to find out more about your potential competition and pin down a customer base. Learn all you can about your target demographic and what their needs are, then think of ways to corner that market. Crunch the numbers to figure out what it will take to run your business for the first year and whether you have the funding to do so without keeping your day job. This part takes some creativity and patience, but it’s essential if you want to run a successful business.

Network as much as possible

In a post-COVID world, it’s a little trickier than it used to be to network and show support to other business owners. However, it’s possible with social media and online resources, and it’s a crucial part of getting your name out there and building up a team of allies who can help you down the road. Like planning for your business model, this part takes some research as well. Utilize several social media platforms and share thoughtful, relevant content everyday to garner followers, and reach out to local business owners who might have advice or connections that will benefit you. If you have something to offer them in return or are interested in a partnership, let them know! Running a business is hard work, and every entrepreneur needs a little help now and then.

Give yourself the tools to succeed

As a parent who will largely be working from home, you’ll need an area that prevents distractions and has all the tools and resources for you to stay focused on your business. This may be an office with a door or just a corner of your bedroom, depending on your living situation, but it’s an important part of the process to set up your own workspace. Once you have a plan in place for how you want to run things, think about what you’ll need to realistically make it happen so you can create work/life balance.

Becoming an entrepreneur as a stay-at-home mom is attainable, but it does take a lot of planning and thoughtful execution. Look for free and low-cost resources that will help you make the most of your time as you set out on your small business journey.