Guide: Becoming a “Mompreneur” and What That Means
Photo by William Fortunado from Pexels
As a stay-at-home mom, do you have dreams of one day running your own company, like an HR consulting business? Those dreams don’t have to take place “one day” — you can achieve them now, even as you’re staying home with your little ones. Let’s take a look at a few things you should do while you consider putting on the mantle of mompreneur.
First thing’s first: Take a step back and make sure this is what you want to do. Undertaking a business venture is a huge decision, especially if you have a new baby at home. Making sure you choose the right business model, sketch out a successful plan, and make the right decisions are all critical right now before you start. Becoming a successful mompreneur is in your future if you lay the groundwork now! Setting a business plan is especially important as it will help put your goals at the forefront.
Form an LLC
If you so choose, forming a limited liability company (LLC) is beneficial for several reasons. One of the biggest advantages is that once your company is an LLC, you don’t have personal liability for losses experienced by the business. In this way, your personal assets are protected if the unthinkable happens. Also, you can file business taxes with your regular, personal return at the end of the year. Simplify the LLC filing process by using company formation services.
Achieve that balance!
Building your own business and being a stay-at-home mom — both full-time ventures — can be tricky to juggle all at once. The key is to set boundaries and allow yourself time to do both things. This may require even greater time management skills than you already possess.
Just remember: Prioritize, make a lot of lists, and make sure everyone is on a schedule. If your kids are in school, do your work while they are away. If your little ones are too young for school just yet, work while they nap during the day. Choose your moments carefully and don’t waste precious time! You’ll be able to achieve a work/life balance while at the same time caring for your children and fostering your career.
Things to remember
The difference between starting a business as your own boss and working within an already-established company is huge. For one, the tools and resources used by a mompreneur like yourself can be utilized fully as you know exactly what you want and need out of your own business.
Human resources professionals are often caught in the crossfire between management and the full-time employees who work under them, and office politics are no fun. Working as your own boss is a huge change of pace from being beholden to another company, mainly because you can make your own decisions and control your schedule — you are truly the architect of your own dreams, at this point.
Good luck out there!
Keeping all of these things in mind, make sure you have the bandwidth to focus on building a brand and business from the ground up. Your motivations and desires are strong: Build a business as strong as you are!
Guest Blogger - Mighty Moms