Are you a new stay-at-home-mom who is looking for something interesting to do, or simply looking for a way to augment your husband’s income? If, for whatever reason, to find a job outside of the home is not an option for you, you may want to consider doing freelance work, or starting a business you can run from home.
As a woman whose days may be filled with purely domestic tasks, building a business is an exciting and fun project that can not only provide you with the mental stimulation you may be aching for, but can also earn you additional income that will help your family manage household expenses and build your savings. Not sure where to start? Here are some tips from mompreneurs on how to turn your hobby into a home business.
Determine what you are good at, and use your strengths.
Each of us is born with a set of talents and skills that make us unique. We are meant to use these to do good in the world…whether that comes in the form of creating a product that will help people, or to simply to put food on the tables for our growing families. So before you start, ask yourself… what can I do, or what do I love to do that will bring value to the lives of others?
Are you a designer who can make women feel beautiful in feminine dresses? A home chef who is capable to cooking healthy and delicious meals on a budget? A baker who enjoys spoiling her friends with a sweet tooth, just because? A crafter who also happens to be the queen of DIY? What can you do or make that you think others would be willing to pay good money for?
Determine and define your market.
The next most important question is to ask yourself, who will buy my products? To create a successful business, you need to define your market. You need to know your customer as intimately as you know your best friend, simply because you will need to create not just your products, but all of your marketing initiatives with this person in mind. Try to get into your customer’s head–what are this person’s concerns, needs, problems and aspirations? How can your product improve his/her life?
Scope the competition, and ask yourself…what will make you different?
Many aspiring entrepreneurs are afraid to start because they believe they do not have anything unique to introduce to the market. But Elizabeth Gilbert, author of bestselling book “Eat, Pray, Love” tells us in her latest release “Big Magic” that sure…”it may have been done before, but not by you.” Thus, once you are able to determine your unique selling point, you can then focus your efforts on studying your niche market, and, if you want to take it a step further, developing your brand’s identity and message.
Create your product/service and get feedback.
So if you’ve decided on your product and on your market (congratulations!!) it is time to do product development. The last thing you want to do when you finally launch your business is to selling cookies that are half baked. Create your samples, share them with potential customers and get their feedback. Ask them questions like; Would you be willing to buy this item? How much would you be willing to pay for it? Is our quality better or worse than the competitor brands? How can we improve? What is lacking? What can we add to make this better for you? Negative feedback from your family, friends, and acquaintances should not discourage you. Thank them for protecting you and your brand, because they are saving you from making costly mistakes. Use their feedback as motivation to create an excellent product that you can truly be proud of.
Make a plan.
If you already know what you want to sell and who you want to sell it to, then it is time to crunch the numbers. Creating a business plan will help you determine how much money, manpower, and resources you need to bring your big idea into fruition. Think of it as a road map to your destination. If this intimidates you, there are plenty of resources that can guide you online. Also, consider getting business savvy friend to evaluate it for you. Having a second, third, or even fourth set of eyes study your business plan will give you not just fresh, but objective perspectives on your work.
When all is said and done, just start.
There will never be completely perfect circumstances to start a business, especially if you are a mom. There will always be something that will seem more important and more urgent for your to do, or dedicate your time to.
Afraid to fail? You will never know until you try.
And darling, what if you FLY?
If you are seriously considering starting a business, MumCentre also has an article on “What You Need to Know Before You Become a Mompreneur”.
If this article was helpful to you in anyway, please share it with a new mama friend who you think would appreciate it tool!