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Starting your own business

Tips for getting started

by Karen Gallagher  |  2352 views  |  1 comment  |      Rate this now! 

Many working moms dream of starting their own business and working from home.  The benefits seem too good to be true (no more daycare, commuting, workplace politics, deadlines, bosses, etc.).  But the obstacles to getting started can seem so overwhelming that most women never even pursue the goal of working for themselves.

If you would love to start a business of your own, it is not as difficult as you may think.  Here are some tips to get you started down this path:
1.) Identify what your business will be:  You may already have a general idea as to what you want to do.  If so, then you are ahead of the game. If not, don't worry. Just start to think about your skill set and what you have to offer to others.  Do not get too caught up in details in the beginning. And keep an open mind so that your idea can evolve and change with time.

2.) Assess your level of enthusiasm:  In other words, really ask yourself whether or not you will enjoy (almost) every aspect of your business venture.  In the beginning, you will be putting in long hours with very little financial return.  So you better be sure that you enjoy what it is you are doing, otherwise you'll never stick with it.

3.) Don't quit your job... yet: The goal would be to one day generate enough income from your own business that you would no longer have to work for someone else.  But this could take years, if it ever happens.  You will need to put in some hours after the kids are in bed, on the weekends, over vacation, and whenever else you can find the time.  But do not quit your job in anticipation of making money right away.

4.) Keep your overhead low:  Throwing your life-savings at a new business venture provides no guarantee that it will succeed. Be strategic about where you spend your dollars on product, training, advertising, etc.  You need to be able to "afford" your business because in the beginning it will cost you money. So exercise restraint and don't fall prey to marketing schemes, advertising deals and consulting services that promise results for a hefty sum.

5.) Slow and steady wins the race:  Make sure that your goals and expectations are realistic. This is not to say that you cannot have plans for major growth. But this rarely happens overnight.  Each sale you make is one step closer to realizing your dreams.  So take things one day at a time and celebrate small victories along the way.

If the idea of starting your own business seems daunting, you are not alone.  The key is to take baby steps, and before you realize it, you will be further along then you ever imagined.  

About the Author

Founder & Owner of The Lollipop Book Club, www.lollipopbookclub.com

Read more by Karen Gallagher

1 comment so far...

  • There are a lot of options out there. Starting a business from scratch or buying into an existing model. If you like the idea of buying a business that already has an established name, you believe in provided excellent customer service and have a enough liquid capital (only $50k needed) for operational expenses then you might want to look into an insurance agency. I work as an ALLSTATE recruiter and would be happy to tell you more about owning an agency. No insurance background, franchise or annual fees are required! My email is dtevl@allstate.com. Good Luck with whatever business you pursue.

    Flag as inappropriate Posted by Donna on 30th November 2011

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