The boom in home based businesses for women could be due to the fact that more women want to be able to stay at home with their children without sacrificing a career. Many want more flexibility, independence and control, instead of being told what to do. It is a way to escape the glass ceiling of the corporate world.
A women owned business from home gives many women the opportunity to have the best of both worlds – they can seek a career and follow their dreams, bring supplemental (or main) income into the home while still spending time with the children.
However, you must have a high level of discipline and motivation to be able to run a successful home based business. There will be inevitable distractions from children, household chores or visiting friends.
Here are 4 tips to starting a women owned business from home.
The key to starting and running a business is proper planning. You can find plenty of tools and resources online to help you develop a business plan.
You need to identify your business goals and objectives, business structure, strengths and weaknesses, marketing strategy and financial management.
Managing your time is crucial. It can be very tempting to walk away from your work to take care of something else in the home. Conversely, you may spend more time working, thus neglecting your home and family. Either of these will cause conflict and prevent your business from being successful. It is crucial to balance your time in your work and at home. Setting goals for each day will help you manage your time properly.
How will you know what type of business to undertake? It is important to do something that you already enjoy which is why you can begin by taking a look at your interests and hobbies. What are some of the things you feel passionate about? Set down and make a list of all the things you enjoy doing and see which one would be feasible to turn into a home based business. Many women-owned businesses began with what was someone’s hobby or interest that they learned how to market.
Source of funding
The amount of money you need to get started will depend primarily on what type of business you choose to own. There are different ways to receive funding such as loans, grants and special programs. You can contact the women’s business centers in your country to get information about government funding for women owned businesses. You should also ask around the community and find out if there are companies, organizations or banks that are willing to fund your new business start-up.