If you’ve recently cast off the shackles of full time work to embark on a more satisfying journey to mompreneurship, the chances are that you’re feeling a mixture of excitement and trepidation. Your main motivation for being your own boss is to be at home more, spend more time with your little ones and to enjoy a little more flexibility in your work life. Striking a balance can be tough especially if your startup is very new. Try not to worry. Every mom who has chosen this career path was a newbie at one point, and many have gone on to have incredible careers. Take a look at how you can make your foray into mompreneurship less stressful.
Every startup has a degree of financial concern at the beginning of their journey. It’s vital that you begin your company on the most stable financial footing possible. If you need to seek investment, explore every channel available. Investigate the option of a business loan, source a business angel that might not only invest their money but also their time and always endeavor to invest some of your hard earned cash. Your cash flow needs to remain buoyant to allow you to keep up with product orders and service demands.
If at any point you are struggling financially, think about more flexible lines of finance. An unsecured business line of credit could be ideal if you need a revolving credit. Knowing there is a pot of money for a rainy day should you need it can be reassuring, and you’ll only ever need to pay interest on the money you have borrowed.
While you may have given up your full time job to spend more time with your little cherubs, you may find that the first few months launching your startup ends up being pretty labor intensive. This can end up keeping you away from your offspring as you put every spare moment you have into the successful launch of your new business. Be assured that it will not be like this forever and that you are putting in the necessary graft now to make it less time consuming in the future. It may not be easy spending time away from your kids. However, don’t become all consumed by your new business venture. Your child’s first school play will only come around once, and that meeting you need to secure a contract for your fledgling startup can wait another hour or two.
Being a sole trader can be a lonely existence. You won’t have many people to bounce ideas off, and you may find yourself snowed under with tasks that you have no experience in. If you don’t know your SEO from your CRM, it’s time to delegate to an offsite expert. By investing some of your cash into the services of an IT consultancy, you can be free to implement the more pressing aspects of your business vision. At the same time, you may wish to invest in your own skill set and develop the knowledge needed to carry out more tasks related to your startup.
Becoming a mompreneur is no easy feat. However, with hard work, commitment, and a stable financial foundation, you can make a success of your startup and enjoy a more flexible working environment.