Do you wonder if you can be be one of those Mums who can work from home and run a successful business? Would you like to give up going into the office everyday? Can you become a Mumpreneur?
Here are a few points to help you with your decision.
- Does your idea fulfil a real consumer need? Will consumers want to buy your product/service?
- Who are your competitors? Do you have a genuine point of difference that will attract consumers? Pop over to Kiddie Deals and browse through their ‘liked’ pages to get an idea of what other Mumpreneur’s are offering within the Kids retail market.
- Will you be able to operate this business on your own to start with? Have you got the necessary skills required? If not, have any of your friends or family got the necessary skills and are they able to assist?
- How much time can you commit to running the business each day?
- Have you got the physical work space available to you at home, including storage of products if necessary?
- How much money will you need to get started? Take into consideration business registration, branding, advertising and initial stock purchase.
- How will you handle growth from a financial and resource perspective? Are there friends and family that can assist from a resource perspective as your business grows? What are your financial options as you grow?
- Create a simple spreadsheet that contains the steps required to launch, with an allocated budget and timeframe. This will help keep you on track financially and time wise. For example:
Step 1: Business Registration Cost: $200.00 Complete: 15/10/12
Step 2: Branding (logo/website/Facebook page/business cards) Cost: $2,000.00 Complete: 28/10/12
Be prepared for the ups and downs, all businesses go through it. Keep focused and remember in the more stressful times why you started this business to begin with. This will help you re-focus and not lose sight of your goals.