But if you want to get off on the right foot, it’s critical to learn as much as you can about starting and managing a company. MASK has listed a few essential tips to consider before you launch!
Research Business Ideas
First, you need to know what options are available to you. Fortunately, there are likely many business ideas that could work for your situation as a stay-at-home parent. Think about anything you are passionate about or enjoy doing, as well as any knowledge or skills you’ve acquired throughout the years, and search the web for home-based business ideas. Here are a few to get you started:
Social media management
Lay a Foundation
After settling on an idea, you will need to lay the groundwork for your company. Start by writing a business plan that includes all of the essential details of your company, including your mission, company description, marketing strategies, financial projections, etc. Then, start getting together a startup budget and researching your funding options. At this point, you will also need to choose a legal structure for your business (e.g., sole proprietorship, LLC, corporation, etc.).
Another legal task to take care of is getting an EIN, also referred to Tax Identification Number. The IRS will identify your company and track your taxes through your EIN, and having an EIN can simplify the filing processes for state and federal taxes.
Moreover, you must consider your work environment. You will need a home workspace that helps you fulfill your daily responsibilities and stay on track towards your goals. Invest in an ergonomic chair that supports your spine and a desk that allows you to use your devices at appropriate heights. Also, look into the various software tools to help you get things done more efficiently.
Create a Website
Every business needs a good website, and creating one that stands out should be a top priority. Use an online website builder to create a site that is easy to navigate, attractive, and clearly explains the products or services you offer. It’s critical to have the basics on your site when you launch, but you can take time to improve it little by little as you juggle all of your other responsibilities.
If you sell your products or services through your site, make sure you have a reliable POS system in place. Otherwise, you could be missing out on significant revenue streams. A POS system allows customers to buy through your site securely. And if you use a third-party API, you can boost security even more and authenticate each customer’s bank account. You can find this kind of tool by searching “bank account verification API.”
Market Your Business
Finally, you will need to develop a plan, ideally before creating your website. Create an attractive logo that reflects what you offer, and pick colors and fonts to use on your promotional materials. Then, start promoting your brand through any outlets to help you get the word out. Social media, email marketing, and paid ads are excellent ways to build your brand awareness.
And don’t forget to do some advertising around town. Word-of-mouth can go a long way in establishing your reputation, and print media like brochures and flyers can also start growing recognition for your brand.
You have plenty of options when it comes to starting a business as a stay-at-home parent. Look into all the possibilities, and lay the groundwork for a flourishing company. The tips above can get you off to a great start, but keep researching other approaches that can position you for a successful, fulfilling business!
Would you like to read more helpful content or learn about how our organization fosters healthy children and families in our communities? Visit MASKMatters.org today!