Do you dream of starting you own business and becoming the next Jo Malone or Cath Kidston? If so – you’re certainly not alone; according to recent research from Direct Line, three out of five mums are considering launching a new business. The idea of working from home, setting your own hours and attending your child’s sports day without having to ask permission can certainly seem an appealing one. But, before you rush off to join the swelling ranks of the mumpreneurs – it’s worth taking a few moments to consider the benefits and pitfalls of being your own boss.
Here, Fiona Clark, founder of Inspired Mums, who has helped many mums start their own business, shares her top tips to help you achieve new business success:
- Follow your passion
My first piece of advice is to only start a business doing something you really love. Whether you are an avid graphic designer, a yoga devotee or love consultancy work, working on something you feel passionately about will help you get through the early days when times can be tough!
- Play to your strengths
Successful people are able to identify their own particular skills and strengths and use them to their advantage. This is particularly important when you run your own business, as you’ll have to turn your hand to many different tasks. However, it’s equally important to recognise the skills that are outside your area of expertise that you may need to outsource, such as book-keeping or web design.
- Always look on the bright side
Optimism is the greatest predictor of success, so it’s not surprising that mumpreneurs need to adopt a glass-half full approach to business. Resist the temptation to self-sabotage – by this I mean talking yourself out of a good idea before you have even tried it, such as “I’ll never make money from doing something I love.” Similarly, ignore those well-meaning friends/naysayers who try to discourage your business ideas – instead be creative and think of ways to overcome any challenges in your path.
- Do your research
It can be tempting to overlook the importance of doing research in your enthusiasm to set up your new business. But as the saying goes, if you fail to plan, you plan to fail. Take the time to thoroughly research your business idea, using all the resources available to you. This could be your network of contacts, LinkedIn, business advisors, accountants and any competitors already occupying the business space you’re targeting.
- Set your boundaries
Starting a new business can be all-consuming; so make sure you define the lifestyle you want to lead and what sacrifices you are willing to make. It is often useful to write down the days and hours you are prepared to work and how you are going to keep boundaries between work and home life – especially important if your business runs from your home.
I hope these five steps will give you the inspiration and support you need to follow your dream and become you own boss. If you would like a free one-to-one consultation to help you kick-start your own business or take it to the next level, then contact firstname.lastname@example.org or 07789 597209 or visit www.inspiredmums.co.uk