The Stay at Home Mother

I've provided these tips for Baby Vibe readers and for CFUN listeners last fall. They've also been discussed in my home-based business Workshop as well. I thought I would share them again for anyone who may be thinking of starting a business from home. And if you are thinking of making that a goal in your life - my upcoming Workshop on January 20th with Sandra Wilson, founder of Robeez shoes (which started out as a home-based business) would be a great way to be inspired and motivated.

When I started my own business from home for the first time, I learned that first and foremost it is imperative to have a business plan. It doesn’t have to be perfect. Simply putting it on paper in point form and addressing the essential issues will help you in the long run and help decide what you want to get out of your business.

A business plan should address issues such as:

• Where do you see yourself in five years?
• Does your idea have lasting power?
• Who is your competition?
• What do you bring to the table that is different and unique?

Everyone’s definition of success is different

It is important to know financially how much you want to invest, and how much you want to get out of it.

What is going to be the time commitment from you?

Is it going to be full time from home or just part time?

When do you see yourself working on your business? Will it be flexible around the schedule with the children?

Recognizing your own limitations or weakness within your business (things that may be outside your area of expertise)

Investing in a good lawyer or accountant who can provide you with the legal or financial advice is so important. It will save you a lot of heartache in the end (many first time entrepreneurs had to go back and revise things, ultimately costing them more, due to their lack of understanding in these areas).

Talk to everyone and anyone who has had experience with what you are doing

Connecting with other women, who have been there and done it, is extremely important. Never be afraid to ask for help or guidance from another woman, who will be able to point you in the right direction. There are so many women’s groups out there and many want to share their own experiences with other women.
Finding a mentor is a great way to be continually inspired and gain insight into entrepreneurship.

Set boundaries

Never lose focus of why you decided to create a business from home in the first place. Don’t let your work overshadow your family life. You need to ensure that there is a cutoff time and leave work to be handled another day, just as you would if you were out in the workforce