In this section, we'll examine how to get started as a WAHM.
With a business that you can operate from your own home, you and your family can
enjoy both the security that you feel as a parent and the income that you can
earn from running the right home-based business. Start by reading this section
and applying the principles to your own business.
Issues Every Home-Based Business Owner Should Know Before Starting Up
As a new business owner, you should be aware of a number of issues prior to
starting up your new home-based business. There's no one right answer, but most
people run into trouble if they don't address each of the issues the following
points raise. Hopefully, this short guide will help you to set up a system to
work from home that's tailored to your own work habits and the realities of
everyday life.
1. Keeping track of business records. When you work at home, you should
and must keep track of your business-related records including income and
expenses, communications, and other paperwork. Set up a system of filing and
bookkeeping right away and stick with it. Remember to set aside time each day,
week or month to go over your records and make note of any issues that need to
be handled right away. It would be a good idea to consult with legal, tax and
accounting professionals early on when you establish your business to get into
proper record keeping mode. If you can’t afford that immediately, there are
plenty of self-help books available to get you started on the right track until
such time as you are able to engage professional assistance.
2. Managing money. Even before the money starts coming in, you need to
establish a system for managing the financial aspects of your at-home business.
No one wants to be in a money-losing proposition, so it is imperative to keep
track of your expenses and revenue. By implementing sound fiscal policies, you
can control spending and set aside money for taxes. Keep in mind that for your
business to grow, you should consider investing some of your income back into
your business. Things like advertising, purchasing necessary equipment, etc. if
purchased wisely, all contribute to a healthy bottom line.
3. Deciding if outsourcing is in the cards. Many work-at-home moms try to
do everything themselves. That includes handling all the business issues and
family issues. Some people can balance that quite successfully, but if certainly
aspects of your work require expertise or proficiency that you just don’t
possess, why struggle with it? These days, there are plenty of resources for
home-based business to hire out specific tasks from ghostwriting to telephone
answering. Paradoxical as it may sound sometimes paying others to do the job may
save you money in the long run. Think of if as freeing up your valuable time to
perform the tasks that really matter to you and that you are the best person
for.
4. Setting the number of hours will you work. If your work or business is
such that you can’t set a firm figure on the amount of time you spend, you
should at least examine each task and determine how long it normally takes you
to perform each task. From there you can more easily define how you will
allocate your time based on order of importance and time needed to complete.
5. Setting aside which hours of the day you work. Remember that as your
own boss, you can set your own work schedule. Unless your work demands it, there
is no reason to limit yourself to the 9-5 hours. You can work at hours better
suited to your circumstances, for example, you can divide your time up, say 2
hours in the early morning while everyone else is out of the house and then
another 2 or 3 hours in the late evening when the kids are in bed. Do keep in
mind though, that you may need to be available for customers or clients who are
used to “normal business” hours.
6. Taking scheduled breaks. This something that most people don’t plan
for. Working at your home-based business doesn’t mean that you can take rest
breaks every so often. In fact, it’s highly recommended you take short breaks to
ease muscle strain or eye strain from working at a desk or computer all day.
That way, you’ll be refreshed and more inclined to completed allotted tasks for
each day. The same goes for eating regular meals at regular times. However, the
thing to watch out for is that sometimes we feel we deserve a break to watch our
favorite soap opera, craft show, or whatever. That’s fine as long as you don’t
lose focus. But if at the end of the day, you haven’t completed your work load,
ask yourself if it was worth it. Don’t beat yourself up if you do it once in
while, but if you allow distractions such as the TV or surfing on the internet
or chatting on the phone with friends to take up all your time, then you need to
re-evaluate your business and your goals.
7. Avoiding distractions. No doubt about it, there will be phone calls
and nosy neighbors, best friends, delivery people, repair people, sales people,
etc. all converging at your door clamoring for your time. Some are unavoidable,
but if you find all your time taken up by unnecessary visitors, you need to be
firm and set up and enforce a policy for when you are available. It’s up to you
to teach others to treat you and your business with the kind of respect you are
entitled to.
8. Balancing family needs with business needs. You may be surprised to
hear that most people find they cannot allow children to have unlimited access
to them during work time. That may seem counter to why you choose work at home
in the first place. But in order to run a successful business, you must be
willing and able to treat your business as exactly that, a business. As a
business owner, you have a responsibility to your clients. That means working
around both your family needs and your business needs. You may need to make
outside care arrangements and set firm boundaries regarding when you will and
won't be available to them.
9. Planning for non-business chores. This is really something that many
moms have trouble with. Some work at home business owners find that if they stop
to do a household or other personal chore, the next thing they know the whole
morning has slipped away. Set up a schedule for when you’ll perform necessary
housework or shopping runs and stick to it. You’ll find that the more organized
you are with your time, the more actual work you’ll get done.
10. Taking time off. What happens when someone gets sick or you need to
take some time off? Set up a policy or backup plan for both scheduled and
unscheduled absences and you’ll feel less stressed out when things do happen, as
they certainly will. If you regularly work under deadlines, make sure you have
the necessary support to take care of other obligations when unexpected events
or emergencies occur. Unlike working for an employer, lost time with your own
business becomes progressively harder to handle unless you’re well-prepared
beforehand.
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