What to Consider When Starting a Business and Raising Kids At Home
As a mom, you may think you need to put your career aspirations on hold. On the contrary, entrepreneurship is the answer to balancing a career and caring for kids for many Canadian women. Although starting and growing a business in a busy home may seem daunting, you can succeed by following these tips from More Time Moms.
Know your options
Moms who want to start home-based businesses have more options than ever. Still, you may struggle to know where to begin as a first-time entrepreneur. Start by documenting your skills, passions, schedule, and financial requirements.
For example, if you love to craft, consider selling your wares through an online storefront on eBay or Etsy. Or, if you are a seasoned grammarian, you may find numerous opportunities to monetize your skills by creating a blog, writing content and grant applications for others, proofreading, or editing. Finally, consider sharing your knowledge with others by offering music, sewing, and cooking lessons or software tutorials. Fortunately, the internet is brimming with ideas for home-based businesses you may find appealing.
Consider financing sources
You can reduce your start-up costs and possibly claim tax deductions by running your business from home, but you will still need capital to pay for essentials like a website and marketing. Although you may rely upon your savings or support from friends and family, it is helpful to research government grants and other funding sources.
Consider staffing requirements
Although many stay-at-home moms are sole proprietors, running every aspect of their businesses, others need to hire employees. Consider turning to friends, family, or a local university for job applicants but establish your payroll system before extending employment offers. Various payroll processing services can help you pay your team by initiating same-day direct deposits into your employees’ bank accounts and coordinating any benefits you offer. A payroll platform can also help you avoid mistakes common among first-time entrepreneurs, such as miscalculating payroll taxes and overlooking filing dates.
Considers your kids’ schedules
Working at home with your kids can help you avoid costly daycare fees and enjoy more time with your family. If your children go to school during the day, you can work on your business without interruption until they arrive home. However, if you have pre-school children, you should plan to work around their specific needs.
For example, tackle matters requiring your undivided attention during the early morning or late evening while your little ones are asleep. You can also keep an eye on infants or toddlers by creating a playing or napping area in the room where you work. For older kids, explain that you need quiet periods every day and encourage them to work on homework assignments or engage in enjoyable activities that will hold their attention and help you avoid distractions while you work.
Consider your physical and mental wellbeing
Starting and expanding a business from home while raising your kids can be exhilarating but exhausting. Remember to take time to prepare a healthy diet, exercise your body and enjoy alone time by meditating, reading, listening to music, or anything else that provides you comfort or enrichment. Self-care will improve the quality of your work and enhance the time you spend with your children.
Mompreneurship is an excellent option for mothers who want to continue developing a career, increase their income and enjoy the pleasures of watching their children grow.
By Josh Moore
Josh Moore entered the world of fatherhood four years ago with the birth of his son, Wyatt, but he’s on diaper duty once again with the arrival of his second son, Hayden. He created diaperdads.org to not only give credit to all the superhero dads out there, but give them some helpful tips to navigate fatherhood, diapers and all.
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