Enterprising Moms Network Inc

Back when I did consulting for mom entrepreneurs just starting out, I used to have a list that I would give them to review, in order to understand what was involved with running their own business.

If you are kicking around the idea, here are some of the key things to think about.

When starting a business from home for the first time, first and foremost it is imperative to have a BUSINESS PLAN. It doesn’t have to be perfect – rather- just 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.

For instance – 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?

Also, 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/WEAKNESSES 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 advice or financial advice is so important. It may save you a lot of hard ache in the end (many first time entrepreneurs have 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.

Most importantly – 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 cut off time and leave it there to be handled another day, just as you would if you were out in the workforce.

For further information, check out my video on How to Become a Mom Entrepreneur - Click Here.