5 tips for mums who want to start a business
Want to me be one of the 600K Aussie mothers running a business? Here’s what you need to know to start a business.
No doubt about it Australian women are making their mark on soloism. According to the ABS, we make up 46% of national businesses owners, with practically half of that number also juggling motherhood.
According to Alli Price, founder of Motivating Mum a community for mother’s running their own business, most women saw a gap in the market for something they use couldn’t find it; needed flexible work, as childcare costs are so high or had a passion or hobby that set them on the soloist path.
And the perks? Flexibility, autonomy and being able to function at the centre of your family, while doing work you love.
Yes, the rewards of being a parent and business owner really are limitless.
"Women make up 46% of national businesses owners, with practically half of us also juggling motherhood."
So if you’re looking to make 2018 the year you start your business, Alli has five words of wisdom to share.
1. Know your target market.
Do as much research as possible and find out who they are, where they live and other demographics. Also find out their motivations, challenges, problems that you can solve. Find out where they hang out (on and offline), how they want to be spoken to, their dreams and aspirations for them and their family. The more you know, the more it can inform the development of your business – you can then decide on a business name that appeals, business colours, logo, copywriting on your site and more. Furthermore, the more you know your market, the more targeted your social media and marketing can be.
2. Don’t fall for ‘the build it and they will come’ myth.
Once your site is up, it will not miraculously attract customers. Once the site is up, that’s when the hard work really starts – marketing it to bring traffic in.
3. Know your why and what success means to you
Think about it and write it down and develop your business model around it. The reason I say this is that, for many women, the accepted definition of success, is not what they’re in it for. Many women juggle work and a business, a business and kids, multiple businesses and more. Some women just run a business to make some pocket money or to add a little to the household money pot. So KNOW what you want to create for you and don’t get distracted by what everyone else is doing – or what everyone else says you should be doing.
4. Be prepared to invest some money
This might seem like a no-brainer but I know of many women who launch a business with no money and believe that they can only start investing when they make some to invest. The problem with this is that they are building their own websites, developing their own logos and doing things on the cheap – and this can often to be the detriment of their brand or business. How about loan some money, spend it where you need to (so it looks amazing), make money quicker and then pay it back?
5. Engaging in FB groups or online is OK but getting out into the world is better
When you get out into the world and engage with people you learn stuff, you get motivated, you glean new ideas and it feeds your soul. Do it often.