7 Tips for Starting a Home Business

7 Tips for Starting a Home Business

Working from home is a great opportunity for women, especially new mums. You get the chance to bring in money while looking after the household at the same time – and there’s no need to pay extra for childcare. The problem is that a home business takes time and you will need to treat it as a business and not a fun hobby. Here are some tips for starting up your own home business.

home-business-work-motherWhat Business Will It Be?

Take some time to look through all your options for a home business. Could you start selling products from another company, like Avon or Betterware? Do you have the skills to start selling your own items or services?

This is a crucial part. You need to find a legitimate company if you want to sell others’ products and will need to find something that people want.

thinking-internetCheck Your Competition

Look online for other people selling the type of products or services that you offer. If it is location based, make sure you look at the local listings on the search engines.

When it comes to working with other companies to sell their products, talk to them about other sellers within the area. This gives you an idea of the type of competition you are facing.

money-coinsWhere Will You Get the Money From?

Every business needs money to start with; even those internet or direct selling businesses. You need to determine where that money will come from. Have you saved up enough for the next six months?

Will you need a business loan? Is there the opportunity to get a government grant? Do your research into the amount that you need and where you will find the money to increase your chances of survival.

business-success-planMake Your Business Plan

Whether you’re asking for a loan or not, you need to have a business plan. This will detail the business, the marketing and the financial plans that you want to achieve and believe are realistic and possible.

Your business plan is something that you can keep looking back over to make sure you remain on track and you are getting to your end goals.

woman-clock-timePlan Your Time

When you’re running a business from home, you will need to think about your time. You will need to utilise it in the best way to get the best of all worlds.

When the children are asleep, use this time to spend on your new business, whether it is doing the work or marketing. When the children are awake, use this time to spend with them.

childrenKeeping Children Occupied

There are times that you will be able to work while your children are awake. Babies tend to play with toys and there are some great options to help with their development.

Older children could do ‘work’ too. You could set up a little desk for them where they can draw or do the stuff they like to do. They’ll have fun being just like mummy.

home-schooling-babysitterBabysitters and Childcare

While you do get the chance to make money without spending it on childcare, you may benefit from babysitter or nanny once or twice a week.

This is something to consider, especially as your home business takes off!

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