Starting a new business is a major challenge, but when you’re a full-time parent, the idea of taking the leap may seem unreasonable. However, the reality of becoming an entrepreneur as a parent can be ideal. You’re ultimately your own boss, which allows you to work around your personal commitments as opposed to working for someone else. The element of flexibility will certainly work in your favour; however, as you may expect, running a successful business will take a great deal of time and dedication to become successful. In this guide, we’re going to take a look at just a few tips for starting a new business when you’re a parent:
1. Be patient
First and foremost, patience is key. Success doesn’t come instantly, and it may seem as though you’re getting nowhere in those initial few months. The average business takes around two years for profits to start rolling in, so it’s easy to throw in the towel before things take off. If you’re in a financially stable position, aim to hold out for the long haul if you’re passionate about making your business work. There are many online resources with expert guidance and even forums where entrepreneurs can discuss their issues and seek help from like-minded individuals, which may give you a notion of what to expect going forwards.
2. Stick to a work-life balance
Any new entrepreneur, your working days are likely to be lengthy to keep things ticking over. As a parent, though, dedicating this amount of time to your business may present itself as much more of a challenge due to the other responsibilities on your plate. Although it is doable to fulfil 12-hour days or more as a working parent, you may struggle to achieve the work-life balance you desire. Recognise when it’s time to switch off, so you can remain productive and prevent burning yourself out.
3. Think about marketing materials
Unless you’re a marketing whizz, you may be oblivious as to how best to market your business. Good marketing tactics, however, is what is necessary to gain recognition and take your business to the next level. There are many forms of online marketing to consider, including social media, emails and SEO. However, traditional forms of advertising should not be overlooked, especially if you rely on local trade. Eco friendly promotional products from Redbows are a smart move to promote your business while out and about and meeting clients, with the likes of t-shirts, bags, mugs and lanyards.
4. You learn through failure
You’ve witnessed your children crawling before they take their first steps (with a few trips and falls along the way), and that’s exactly the same concept you’ll encounter when starting a business. Success doesn’t happen overnight. You’re sure to face obstacles along the way, and you may even encounter some failures. However, these will act as a learning curve, so you are more inclined to make better decisions later down the line.