Mom Incorporated: Getting Started
Ready to become a Momtrepreneur? This expert advice can help.
Keep a tight rein on your finances. It may sound obvious, but “don’t max out your credit cards to start your business,” warns Pat Cobe, co-author of Mompreneurs: A Mother’s Practical Guide to Work-at-Home Success and Mompreneurs Online. And when it comes to business expenditures, “Always ask yourself first, ‘What’s the result? Is it tangible?,’ ” advises Tamara Monosoff, author of The Mom Inventor’s Handbook and Secrets of Millionaire Moms.
Plan for the long haul. “It can take 12 to 18 months to lay the foundation for your business,” says Victoria Colligan, founder of Ladies Who Launch. “Figure out: What problem are you solving? Solicit feedback and opinions from other people.”
Make a business plan. It doesn’t have to be complicated. Monosoff offers a one-page business-plan program that prompts you through the process on mominventors.com.
Create a website and use free social networking tools. “A website is your business card these days,” says Colligan. You can DIY with templates on Yahoo and Go Daddy.
Get help with childcare. “You’re not going to be able to do everything while your child naps,” says Cobe.
Know it’s worth it. “Our members say there are a lot of late nights and it’s harder than you think, but more exhilarating and rewarding than you ever thought possible,” says Colligan.
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