17 Bright Ideas to Realise Your Dream and Become a Mumpreneur!

17 Bright Ideas to Realise Your Dream and Become a Mumpreneur!

Become a Mumpreneur! Sounds easy doesn’t it. You are at home with the kids, running a little business on the side. The dream is awesome but the reality can be somewhat different – its really hard work. With these tips though you can realise the dream and become a Mumpreneur! Thanks to Danni from Rock a bye Baby –  for this list. Danni Guerreiro is a Mumpreneur and owner-operator of Rockabye Baby Equipment Hire, Sydney’s favorite nursery equipment hire company. Danni went into business after having children and struggling to find good quality baby gear for hire when she travelled with her family, and so Rockabye Baby was born.
Passion – What’s yours? – What are you passionate about? What would you be happy to spend your days doing? Identify your passion and develop your business idea around it.
Finances – What will your start up costs be? Write a list of all the things you will spend money on in the first 6 months, then double it. Its worthwhile having a buffer for unexpected expenses as well as some “working capital” to finance the business till you turn a profit.
Nest egg – Do you have enough $ to live on while the business gets started? For the first 12 months you may only earn enough to keep going, and you will find that you will need to reinvest at least some of your profits to grow your business.
Staff – Will you be able to run this business singlehandedly? Will you need to hire any staff in the early days? How much will that cost and do you have the money for their wages, tax, super?
Childcare – Establish a plan for juggling business and baby before you start. Will you use a nanny, or a childcare centre or will a family member be helping you or will your business be able to be realistically operated during your child-free hours?
Workspace – If you’re planning on working from home create a dedicated workspace for your business. This will allow you to psychologically and physically ‘shut the door’ between work and family.
Get dressed and go to work – Your office may be the spare room or the dining room table, but its important that you get dressed each day and start work. Being dressed will help you to psychologically be present each day.
Buy a slow cooker – You may find some days just go so fast having a hot nutritious meal cooking for you while you work is like having a butler….. sort of.
Have a Plan – A Business Plan that is. A well written Business Plan is your map and your guide for operating and growing your business. A free comprehensive Business Plan template can be found at http://www.business.gov.au/business-topics/templates-and-downloads/Pages/default.aspx
What’s your Point of Difference? – You don’t have to reinvent the wheel but having a point of difference from your competitors will give your business the edge.
Research, research, research – Do yours. Research every aspect of your business including your competitors, your start up and your ongoing costs, who else is doing what you do, are they doing it better?
SWOT – SWOT stands for Strengths, Weaknesses, Opportunities, Threats and a SWOT analysis should be conducted before you start your business. What are the strengths of your business idea? What are the Weaknesses? What Opportunities can you see in the marketplace and what Threats are present?
Be flexible – Becoming a Mumpreneur is above all a lifestyle choice. Although being a business owner means you may be able to work from home or choose your own hours it also means late nights working while the kids are in bed, or weekends when your partner is at home to lend a hand.
Have patience – Rome wasn’t built in a day and establishing a business takes time. Don’t be in a rush, enjoy each step and when times are quiet grab that opportunity to network with other business owners or suppliers.
Use that Crisis – Mistakes will be made. There’s no getting around that. But use that crisis as an opportunity, go through a Lesson Learned program, examine the situation and work out what you will do differently next time.
Engage in social media – Its free PR and nearly everyone uses it. Use Facebook, Twitter, Pinterest and other social media applications to promote your business or product and build a loyal following of engaged customers.
Just Do It – Like the Nike slogan, if you have the passion, the drive, the determination and the will to create your dream business then just do it.

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