Are you a working parent who's been thinking about starting an online company? When you’re already juggling the roles of parent and employee, being a business owner might sound impossible. Don’t write it off just yet, though. Many people balance these things without losing their minds.
That being said, it won’t be easy. There’s going to be a while before the effort feels worth it. This is where the phrase “playing the long game” fits perfectly. It’s all about time and money management.
We created this guide to help you get through the hoops that come with balancing family life, daily obligations, and your dreams.Are you thinking of starting your own online company but are worried about how you'll manage? These five tips will help you get started!Click To Tweet
1. Figure Out Expenses
When starting an online company, before you make any money, you will be spending a fair amount. Start saving six months to a year before you launch your business.
Think about everything you’ll need. Get sufficient inventory. There's shipping and packaging to plan out. There's also the cost of a dedicated server if you plan to have an e-commerce site (which we suggest you do!).
You want this endeavor to enhance your life, not hinder it. That's why it's so important to have padding and start now.
2. Balance Starting an Online Company With Family Life
So often, we have to straddle between two worlds, and each one demands. Parenting is your most important job, but for your company to thrive, it needs commitment too. And there will be times it requires undivided attention.
It's time to sort this out with your children. If they’re old enough to understand, find a way to communicate to them that you're busy without it feeling like a dismissal.
If they aren’t, you will need help, whether in the form of the other parent, other family, friends, or a babysitter. There are not enough hours in the day to do this all by yourself.
3. How to Balance it With Other Work
When starting an online business, the job that keeps your bills paid must take priority. We'd never encourage sacrificing something guaranteed for a risk. However, we understand you want to make this work.
You can start by writing down a schedule mapped out hour by hour. Then you know what you have time for and what you don’t, and exactly how to accomplish everything you want.
You must also make days for yourself that you don't work on your business. Otherwise, you're headed for burnout, which will render you ineffective.
4. Name, Mission, and Brand Story
If your business is going to succeed, potential customers will need to understand what it is. And if you expect them to, you have to first. Here are three things to sort out now.
- Come up with a name. If you don't have it right away, create a working title. This will bring life to your project.
- Figure out your mission. What need are you fulfilling? It could be as simple as cooking spices. Then you fulfill the need for tasty food.
- Your brand story highlights your company's unique qualities. What do you offer that no one else does?
5. Prepare to Lose Free Time When Starting an Online Business
You might've tuned in to your favorite show when you got back from the office in the past. Now it'll be time to get to your other job. Especially in the first while, there won't be much fun.
However, we still want to avoid burnout. Find half an hour each day to do something for yourself. It might be a workout tape, a board game, or even a nap for an especially crazy day.
Get Ready For a Lot of Work When Starting an Online Company
The role of a working parent who runs a business is one of sacrifice. Never underestimate the commitment this takes. You must be passionate about it.
Starting an online company as a working parent can seem daunting, but with a little planning and perseverance, it's definitely doable. Now start saving and get out a pen and paper!