Tag: mompreneur

Advice for Momtrepreneurs: 4 Cost-Saving Ideas for Your Business

cost saving ideas

Starting your next online business venture doesn’t have to be a black hole for your wallet. There are plenty of cost-saving ideas you can do to create your business and get it off the ground in no time.

Take a look at some of the best ways to save money while growing your business.

Trade Services

If your business can be used by others to provide a quality service, consider trading with other businesses in your area. One particular website, Simbi, allows entrepreneurs to trade services with each other through a coin based system.

Do you need your website analyzed for SEO purposes? It can be done using Simbi and is a great way to give back to other growing businesses. The services offered come in a variety of areas and can help keep your initial expenses for your business relatively low.

The Cloud is Your Friend

How much money will you have to spend on a filing cabinet for your business? The smartest business owners use a cloud-based system to store all of their documents.

The biggest benefits of storing everything in the cloud are the unlimited access you will give yourself to your business files, and less room is taken up in your office area.

If you use a system such as Google Drive or Dropbox, keeping your files in the cloud means you can pull them up on your phone, tablet, or laptop anywhere.

Wouldn’t you like to save time while running an errand by sending an updated invoice to a client instead of having to run home, pull up the document from a filing cabinet, and fax it to them? This is the main reason why a cloud-based system is the way to go.

Be as Green as Possible

You don’t want to spend hundreds of bucks each year printing up papers that need to be filed, or faxed to clients and other vendors. You can also save a lot of money each year by using power strips for all of your business devices and turning them off at the end of each day.

Even though the items are not physically turned on, they still suck a little bit of energy each second when connected to a power strip that is plugged in. Switch the strip off and watch your energy costs go down.

Find Cheaper Software Alternatives

Instead of piling up monthly expenses for a number of different software programs for your business, such as Microsoft Office, consider going the cheaper (or free) route whenever possible.

You can find a number of cheaper alternatives, or in some cases find coupons online to purchase subscriptions to software programs at a discounted price.

Quickbooks is one of the most popular accounting software programs for entrepreneurs, and you can find a list of discounts for it posted here.

What Cost-Saving Ideas Stick Out to You?

So now that you have looked at some of the best cost-saving ideas for your small business, which ones will you start trying today?

Check out our thrifty businesses section for more money saving tips!

Retail Dreams: 8 Tips for Moms Running a Great Retail Business

retail businessDespite what they say, you can have it all.

Around 57% of moms have started their own business or at least thought about it. That goes to show how strong the entrepreneur spirit is among moms. But striking the balance between running a retail business and being a mom can be tough.

Below, we’ve put together 8 tips to help moms run a great retail business.

1. Focus on What You Do Best

When you’re running a business and a family at the same time, it’s easy to get bogged down in the details.

On the business side, try to limit the time you spend wrapped up in the minutiae. That’s a good way to burn out your passion and lose sight of what drew you into your retail business in the first place.

Try making a list of the key features you enjoy about running your business and try to focus on those. You might have to wear some different hats occasionally, but you can get a lot done without getting caught up in the details.

2. Accept When You Need Help

If it comes to it, consider hiring people to tackle the minutiae while you focus on the parts that inspire you.

Being a mom means you also have a family to lean on. If you feel like you’re the one supporting everyone else, it might be time to flip that on its head. It may surprise you to discover how much your family can pick up the slack when you need them to.

3. Build a Community

One of the fantastic things about owning a small business is the connection you can build with your local community when you start out.

You’ll usually find friends either in your local area or in an online community who will help you out with advice and support. This can be invaluable throughout your whole business journey as it means there’s someone extra to help you out.

Social media makes it easier than ever to find fellow business moms or businesses of a similar size. Banding together can even help you with marketing and cross-promotion.

4. Consider Your Growth

When owning your own business, you have some major choices to make concerning the future of your business.

In general, most businesses seek constant growth and new opportunities. But if you began your small business with love and passion, you may not want it to grow out of controlĀ – particularly if you want to keep playing a day to day role in it.

That might mean turning down opportunities for growth. But if you’ll be happier for it in the long run, that doesn’t have to be a bad thing. The beauty of owning your own business is that you get to call these shots.

5. Protect Yourself

Running a business can often involve facing some difficult situations. Those situations may include threats to your personal or business security.

Take precautions to stay safe when you’re doing business. Shoplifting, break-ins, and threats of violence can all result in heartbreak, as can trouble with the people you hire.

With a few preventative steps, you can reduce the risk to yourself and your business. You can read more here about shoplifting prevention.

Staying on good terms with your local community can also help you stay safe as you do business.

6. Be Strong, Be Bold

This one’s a twofer, but they’re related skills.

In business, remember to be strong. Assertiveness is important for many reasons, from dealing with staff to saying “no” to excessive requests for freebies or your precious time. Carrying your business with strength will also show you won’t let other businesses bully you.

Being bold is another key business skill. By this, we mean don’t be afraid to strike out for new opportunities. That might mean handing out business cards without shame or being the first one to tout your business. Being bold is one of the best ways to unlock new business, so throw out the fear and get out there.

7. Don’t Forget Your Family

In all the excitement of running a business, it can be a struggle to strike the right work-life balance.

While you’re unlikely to forget your family altogether, it’s easy to get swept along in the current of doing day-to-day business and fail to make enough time for family.

Try to ensure you balance work time with family life by putting strict limits on the number of hours you work and ensuring you take days off. Making time around public holidays and family celebrations are also vital.

If someone in your immediate family expresses concerns about how much you see each other, be sure to listen. While you might not be able to accommodate them, it’s important not to turn defensive and lose sight of your own feelings.

8. Stop and Breathe

Being a mom is a full-time job in itself, nevermind running a retail business on top of it. With your head buried so deep in work, it’s important to sometimes stop and take a step back.

Try to get a look at the bigger picture. You may discover things you could be doing differently, or you might discover some misaligned priorities. It’s a great chance to think about your work-life balance and spend time with the people who matter most to you.

It’s also a brilliant opportunity to take a look at your business. You might spot opportunities for growth or promotion you hadn’t considered before, for example. Or you can take the time to come up with your plan for the next year to take advantage of a trend.

Mom’s Retail Business Dreams

With these 8 fantastic tips, you should be able to have it all and achieve mom’s retail business dreams. Business and family life both share one thing in common: you never stop learning. So learn and grow as you work, and you’re sure to find the balance that works for you.

Looking for more business tips for moms? Make sure to follow our blog.

Becoming a Mompreneur: How to Start a Business from Home

mompreneur

Over 11.6 million firms in the United States have women owners. In 2017, that represented $1.7 trillion in sales.

You could be a business owner too.

Just because you have children and are a stay-at-home mom doesn’t mean you cannot be a successful businesswoman. Read this article to learn how to become a ‘mompreneur’ and run your own business out of your home office.

What is Mompreneurship?

When a mother is also an entrepreneur the modern term for her is a mompreneur. It describes someone balancing the demands of childcare and a business startup. It’s empowering and a warning at the same time.

The term “dadpreneur” does not seem to have been coined. Perhaps, with a few exceptions, dads generally don’t have to balance childcare and business commitments. Moms don’t often get the choice.

Whether you are a single mom or in a relationship the demands of motherhood can be huge. Many moms feel like they are doing several jobs even without adding starting and running a business. You’ve got the admire the mompreneurs.

Why Be a Mompreneur?

Moms start businesses for many reasons. Sometimes it’s about finding a way to make money while looking after a family. They start-up an at-home business because there are few other options.

For others, entrepreneurship is an ambition fulfilled. They may have a passion to run their own business and be their own boss. The urge to create a business and grow it does not necessarily stop with motherhood.

Business ideas for stay-at-home moms provide exciting, rewarding and long-term occupations. There is life after children and getting started by running a business from home makes sense.

What Kind of Business Can You Do?

Mom entrepreneurs are creative. Sometimes they have to be organized around childcare so running a business from home is a starting point. Search the internet to learn more about business opportunities.

Get Crafty

Doing something you love is a great place to start when developing a business idea. A passion for crafts or art can be monetized. This kind of work can be done from home and can fit around childcare and the school run.

There are two key things to consider. Is your hobby a viable business? Do you have effective routes to market?

The business cannot be viable if the price you can sell your product at means your hourly rate is too low. When it’s a pastime or hobby you don’t count the hours. When it’s a business don’t make yourself a busy fool, working hard for little reward.

Having an effective route to market is important if you don’t want to spend all your time on sales. Etsy is a well-known option for crafts. Local craft fayres, stores or markets might be useful options.

Is Writing Right for You?

If you have a talent for writing there are a number of ways you can work as a freelancer from home. Blogging is a popular activity but few people successfully make the step to earning significant money from it. It can be done with some knowledge and plenty of persistence.

An alternative way to use your writing talent is to write content for other people. A freelance writer can earn money by writing articles for blog sites, training materials or news sites. Even an advertising copywriter can work on a freelance basis, from home.

Those That Can, Do, Those That Can’t, Teach

Teaching from home can be a viable business. Parents will pay for extra lessons for both able and remedial students. If you have the appropriate qualifications and experience this may be an option for you.

If you play a musical instrument and especially if you have teaching qualifications this can be a business opportunity. Both adults and children could be clients for music tuition in your home.

Make sure you obtain insurance and licensing where required.

Design and Develop Your Home Business

Technology means working from home using a computer and an internet connection is a very popular mompreneur idea. Graphic design, web design, software development and more can be done remotely. A good reliable internet connection and the right software is all you need.

Find work through your existing network or freelancer websites and web design forums. It may take time to develop a client base but if you do good work and are competitive you could join the many successful home-based freelance designers.

Some Tips for Mompreneur Success

Any new business can be very demanding on your time. Being a mom can be equally demanding. You will need awesome time management skills if you don’t want to sink without a trace.

Work out what is important and block time in your calendar for those things. Be brutal about everything else that tries to steal your attention. The interruptions, trivial calls, and time-wasting distractions have to come second to building your business.

Compartmentalize your life so you can balance seeing your kids with making your business a success. Set aside quality time for your children. Plan your business commitments so that you can give them the full attention they need.

Increase your leverage by outsourcing some tasks. This frees you to do the things only you can do best. This could be office administration or it could be a home cleaner or au pair.

Create a support system for you. Have family and friends to help out when needed. Establish the right financial, emotional and practical support to give yourself a chance of success.

Be careful not to overreach yourself. Ambition is fine but it must also be realistic or you will crash and burn. Cash flow problems or physical exhaustion are both fatal for your business.

Be clear what success looks like for you. There may be financial goals but there may also be success criteria about work-life balance too.

Next Steps

Do your research. Write your business plan. Carry out a risk assessment.

Your preparation has to include working out how to balance family and business plans. Learn from others who have made the move to be a mompreneur before you. May you find success.

To learn more about earning money from home, click here.