How to Start a Business as a Stay at Home Mom
While there are many women in business, sometimes the idea of starting a business as a stay at home seems like a pipe dream when you think about the day to day activities of raising kids, running a household, or just finding the extra money to get started. For someone with a chronic illness, like me, I knew I wanted to do something to help my family get ahead, but a traditional job was not in my cards. My tenacious spirit led me to start a business and ultimately plunge into the blogging world.
(*This is a sponsored post, but all thoughts and opinions are my own)
When I first became a mother, I was still recovering from an accident. My husband and I were newly married and pretty broke. I remember selling a lot of my pre-maternity clothes when my son was two months old for diapers and a Tummy Time Gym. My first side hustle was selling Avon. Then I delivered a women-owned publication. For a few years, I sold Mary Kay and was quite good at it.
However, I really wanted something else. After the birth of my first daughter, I sat down one day and made a list of all the things I loved. I loved kids and planning events, so I took those two things and turned it into a children’s party planning business. As I learned about marketing, I became very interested in blogging and social media. After closing my business, I kept the blog and now help clients with social media and am working at making blogging and social media my full time job from home.
How to Start a Business as a Stay at Home Mom
Anyone who wants to be an entrepreneur needs a why. For me, it was the desire to make an extra income to help pay bills, dance lessons, and even vacation. For former stay at home mom Chrissy Weems, the CEO and co-founder of Origami Owl, it was the desire to help her daughter with an entrepreneurial spirit. No matter what your dream is, you need a why.
What is your idea for a business? Maybe it’s event planning, like me. Perhaps, it’s blogging or being a social media influencer. Maybe you want to start a consignment boutique. Whatever it is, you need an idea, but you also need to research that idea to come up with something that makes you unique. What will make your business stand out from the rest? Is there a market for it? Find out all you can, and be thorough!
A Business Plan
Once you get past the idea and research phase, you need a business plan. Think of your business plan as the road map to a successful business. It will include how your business will be run. You should have a mission statement as well. If you need to finance your business, it will be something that you can show a potential lender. It will also help you stay on track.
Is this business something that will cost money to get off the ground? If so, how will you finance it? When I started my business, I used money I made from selling cosmetics to invest in stock. Then I just kept reinvesting. The same was true with me and blogging. While I had to take a bit of a break from blogging because of health issues, when I decided to pursue it again, I used that same strategy.
Every time I made money this past year from a sponsored post or a review, I would invest in something for my brand. I bought a Chromebook. I purchased a self-hosted plan, I bought a theme for my blog, and I invested in classes. Each of these things things has been part of my financial plan.
Depending on what you want to do, you might be able to build your business as you go. However, you might go over your idea, your business plan, and then find that you need capital to start. You will have to research what supplies you will need and whether or not you need a retail location or storage space. Make sure you are thorough.
Also if you need capital, don’t forget to see what is available in your area as a new business owner or as a woman in business. Some local chambers of commerce or other groups have grants and loans available specifically for women in business. Take advantage of it!
Trial and Error
As someone who has had her share of screw ups, remember that there is a learning curve to starting a business. You will make mistakes, but hopefully you learn from them without it costing you your bottom line. Don’t dwell on them! Just learn from them and move forward.
I definitely think that everyone should chase their dreams. If you want to own a business, do it. Come up with an idea, write a business plan, see if there are grants or loans for women in business in your area, make it happen! Also, don’t be afraid to let your family get involved! My whole family and I work as a team on a lot of this, and it gives me the push to keep chasing dreams.
What is your dream? What are your obstacles right now in chasing it? As always, feel free to ask questions or chat below! We are all in this together!