Monday, March 26, 2007

Key Questions for Moms in Business

I've been around the work at home mom community long enough to notice the trends. There are great elements to working from home - the flexibility, the lack of full-time daycare expenses, etc. - but there also are some bad elements. We have a poor reputation in many circles because so many moms sell themselves short. They're willing to work for anything - even less than minimum wage - to be able to stay home. If you're going into business for yourself, then you have to be in it to make more than minimum wage. Otherwise, go to Home Depot. They'll hire you and give you benefits for more money and less headache. Moms who want to be in business should ask themselves some tough questions before they jump in. The answers should guide your decisions.

- First, are you the right person to run a business? Running a business requires an attention to detail and an ability to prioritize and motivate yourself. If you have to be forced to clean your home, pay your bills, or do your job, then you may not have the motivation necessary.

- What interests you? Really think about this question. Yes, there are people who will tell you that making money should be your focus, but you have to love what you're doing. Begin simply - make a list of what you enjoy. Don't think about the business now; just focus on a topic or activity that you can get up every morning and face.

- Are you willing to make sacrifices? Being a business owner means that you will need to make financial, family, and emotional sacrifices. You may have to miss a lazy afternoon at the park to get reports done on the accounting of your business. While you don't want your business to become your life, you will need to be prepared to make it an important part of your life.

- Do you have time and energy? Being a small business owner is tough. Doing it with small children at home is even tougher. When will you work your business? Do you have the desire to get up and work even when you're tired? You may have to look at changing the way you run your household. In my house, paper plates are always stocked, and we cook in bulk. Saving that time everyday during the week gives me the time to spend an hour with my husband and kids instead of working in the kitchen. These kinds of organizational changes are something you will need to consider.

Thursday, March 22, 2007

A Few Thoughts on Getting Serious

I've had two experiences this week that involved business advice. Both have hit hard because I think I needed to hear them this week. The first came on an anonymous message board. I posted about various financial goals my husband and I have, and in the course of the post, I listed our income. Mine is admittedly not where I'd like it to be, and I'm trying to remedy that. One of the posters came back and said that I need to take myself more seriously as a businesswoman so that I can begin to increase my income. After I thought about what she said, I realized that she is exactly right. I, like many work at home moms, don't treat myself like the business owner I am.

Many of us treat our careers as secondary paths in our lives. Instead of being willing to say "this is important to me," we try to work our businesses around everyone else's schedules. We may allow clients to take advantage of us. We may not be as reliable as we should be - all because we are not confident enough to admit that we are business people.

The key is in how to remedy that perception. I think there are a few choices you have. First, decide what in your life you must do and what someone else can do. Perhaps you feel that having all meals with your children is important, but someone else can wash the dishes. Then hiring domestic help (yes, it's a financial risk) may be an option. Or perhaps you could hire a virtual assistant to help with the clerical work tied to your business.

You also must be willing to have concrete goals for your business life. Know where your income is now and where you would like it to be. Know what you want to do with your business. Have a clear idea of the path that's right for you.

The second realization came from an email. I do regular writing for someone who has a large pool of writers. She sent an email this week about late assignments. In the email, she said that she wanted to share the realization she made a few years ago - that every single day she spends working on one project is a day she could get done and work on something else.

Wow! It sounds simple, but I know I do that in my business. When I have a deadline, I sometimes take longer than I should because I know when the deadline is. Perhaps I could finish a writing job by Wednesday. Ah, there's no need. I have until Friday. It's time that we work hard on our businesses. We need to put in the hours necessary to make our goals a reality.