Friday, April 19, 2024

Best Practices for Combining Business Development and Parenting

When you’re actively parenting kids at home while looking to launch a small business, you may feel you’re limited in your work opportunities or have only e-commerce options available to you. However, with a bit of creativity and preplanning, you can uncover a number of different viable professional pathways that can help you earn extra money working from home. Professional Global Etiquette can help you promote a stellar image regardless of where you operate.

What Do You Enjoy?

One of the important first steps in deciding on an appropriate work-from-home venture is making an honest assessment of your skills, talents, and what you must enjoy. You may fall back on your education, a previous profession, or find a way to monetize a hobby or special interest. In addition to thinking about what you would like to do, it’s wise to conduct a market analysis to see who your competition is and decide how you might be able to differentiate yourself in setting up a business.

What Can You Do From Home?

If you’re a stay-at-home parent and you’re looking for opportunities to earn money while still being available and present for your children, you’ll want something that’s both flexible and can be done from the home. This might include medical transcription, virtual assisting, grading tests and assignments, or being a teaching assistant. If you have an artistic or creative streak you might be able to teach music lessons or art lessons or serve in a consulting capacity if there’s a market for it.

Getting Yourself Established

You’ll need to set up a home office to accommodate your business. You’ll also want to get a business license and incorporate yourself as a limited liability company, a sole proprietor, or an independent contractor. According to the U.S. Internal Revenue Service, there are different benefits to each type of business formation. Some give you protection against liability, while others offer tax advantages and greater degrees of business flexibility. Consider your specific operations and choose the business structure that’s right for you.

Invest in Software

As a small home-based business owner, you’ll want to ensure you use the appropriate applications and software that can help you maximize your productivity. For example, an invoice generator gives you real-time insight into your customer’s available funds and bank account balance API while also saving time and money. Project management tracking tools and online bookkeeping or accounting features can also help you be more productive in your role. You may need a laptop or desktop computer for your operations, and if you’re looking for startup funding from a small business bank, you’ll need to develop a business plan and marketing strategy prior to applying.

Invest In Cyber Security Tools

Many small businesses think they aren’t at risk for cyber security breaches, but it can and does happen, often with highly disruptive outcomes. Make sure you’re regularly backing up data and have IT cybersecurity protections in place. Develop a recovery plan in the event you are hit by an attack – for example, identifying where you’ll go for help and which apps to recover first. Not only will proactive measures protect you and your customers, it will protect your business reputation as well.

Managing Childcare

Even while working at home, there may be occasions when you’ll need to meet clients inside or outside your home or take conference calls or business calls. According to Very Well Family, it’s important to have reliable child care on call in the event you need it. This might be in the form of a nanny service, a neighborhood co-op, or assistance from family, friends, or a partner. Being able to find a healthy work-life balance will be good for you, your business, and your kids.

Many people successfully combine parenting with starting their own business venture. Look for opportunities to build on a past profession or a career path that you enjoy to help ensure your success.

Professional Global Etiquette offers training in business protocol and etiquette to companies and employees creating successful enterprises. All workshops and presentations are customized to individual client needs. Visit the site to learn more!

Photo By Pixabay

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