Bridget Campos News Features

Four Entrepreneurial Tips for Stay-At-Home Moms

By Emily Graham, 1/09/2023

​​ 

With over 12.3 million women-owned businesses in the United States alone, it's never been a better time to become a female business owner

Being a stay-at-home mom can be exhausting, but it’s also an excellent opportunity to become an entrepreneur. Here are some tips for starting a business from your home:

1. Maintain a Healthy Work/Life Balance

Having a healthy work/life balance is essential for succeeding as a female entrepreneur. Sadly, burnout is prevalent among many entrepreneurs. To increase your chances for entrepreneurial success, implement the following practices in your life:

• Adopt a fitness routine. Work out four to five times weekly to maintain healthy fitness levels. 
• Schedule regular 'me time'. Set aside hours every day, week, or month to focus on yourself and your hobbies. 
• Keep your home clean. Keeping your home clean is essential for maintaining a healthy mindset. Adding simple house plants and removing clutter can help. 
• Learn how to meditate. Meditation is excellent for boosting your mental health and removing yourself from work. 

A healthy work-life balance can make you more productive and more successful in the long term. It can also help you keep from becoming stressed out. Make a defined work schedule and keep it. And don’t be afraid to take a walk when you need it.

It’s also important to have a dedicated workspace. If your current living situation lacks the space to accommodate a home office, you may need to explore new options. If you prefer to rent, explore houses available in your area. Filter your options for an extra bedroom that can serve as your home office. This will help you keep health boundaries between your work and home life.

2. Create a Business Plan 

Although it’s possible to start a business without a plan, your chances of success will decrease. A strong business plan helps you attract investment and stay on track with your goals. Your business plan should include:

• Forming your business. When you’re starting a business, you’ll need to decide on the appropriate structure. Many entrepreneurs choose to run their business as an LLC, as it protects personal assets and has certain tax advantages, and a formation service is a convenient and efficient way to get the ball rolling. First, find out which formation service is ranked highly based on affordability and levels of service. One reputable website to look at is LegalZoom.com
• A marketing strategy. Your business plan must detail your marketing strategy, and how you'll attract customers.
• Financial planning. Your business plan should have solid financial projections. That way, your business can attract angel investors or venture capitalists. 
• Your HR strategy. Will you need to build a large team? Mention how many employees you’ll require in your business plan and how you'll recruit them. 
• Competition analysis. Be honest and detailed about what your competition offers and how your business is more promising. 
• An executive summary. Your executive summary should be a simple overview of your entire business.
• Start only with what you need. When you’re beginning your business, don’t overspend on fancier items and equipment. Instead, buy only what you need and add on to the basics once you’ve found your footing.

 
Keep in mind that your business will require funding, and if you don’t have investors you may need a personal loan. Before applying for one, be sure to investigate your credit report for any errors. You’ll want to resolve anything that’s incorrect because negative information will make you appear to be a greater credit risk.
 

3. Create a Marketing Strategy 

Marketing is one of the most significant aspects of your business. How will you find your customers? If you’re running a local business, you need a local search engine optimization strategy to attract local customers. However, will you incorporate more traditional marketing media, such as radio, TV, and newspaper ads? 

Creating compelling product photos is another excellent way to market your business, as is using the latest tech tools to help you stand out. For example, when you use a tool to create your own meme you can add your own photos, text, icons, and other graphics to customize an entertaining message that may very well go viral. Memes are very popular on social media and can be used on your website’s blog as well to reinforce your product or service offerings.

Also, keep in mind that in marketing, content is king, as Asset Digital Communications points out. And that’s where content marketing comes into play. Content marketing is a specialized area of business promotion with a goal of building trust and relationships with your customers. Forms of content marketing include targeted posts to social media, your website, blogs, and email campaigns. This is a critical part of your overall marketing approach, so it's worth doing some research on the topic to make sure you're effectively putting it into practice. You can turn to online resources like CornerstoneContent.com to help you learn what you need to know.

4. Start Networking

Networking is one of the best ways to meet like-minded female entrepreneurs in your area. You may meet potential investors, mentors, and future business partners. Check out some of the upcoming networking events and you can also find various women entrepreneur groups.

Become an Entrepreneur 

Succeeding in business as a woman doesn’t have to be complicated. With the tips in this article – including choosing the best LLC formation service, optimizing a marketing strategy, and networking – you’ll boost your chances for success.

Image Credit by Pexels