If you’ve recently welcomed a little one into your life and you have entrepreneurial ambitions, you may be wondering whether it’s practical or even possible to start up a new business post-partum. The good news is that, whether you’re hoping to start a remote company or a brick-and-mortar store, you can open a business after having a baby if you plan everything out carefully. The following article can help you discover ways to juggle your business and your baby!
1. Get a Solid Foundation for Your Accounting Practices to Keep the Business Financially Sound
The first step to establishing a strong business foundation is to make sure your finances are sound. That’s why you’ll want to institute regularly accepted accounting practices at your business, and brush up on your own bookkeeping skills as well.
If your skills are a little rusty, you can simply use invoicing software to ensure you get paid on time and keep thorough accurate books. Search for software types that allow for online customer payment and digital invoices. Top software may also be able to provide you with alerts whenever customers view and pay their invoices. You could also use this type of software to offer your customers pre-scheduled invoices if they need to make recurring payments.
2. Get Into a Regular Routine With Your Baby and Rely on Babysitters When Needed
According to one study, having a routine is essential for healthy childhood development. The good news is that getting into a regular routine can be helpful for you, too! With a routine, you can better plan out your time and split your time between caring for your baby and starting up your business. To make the routine work, you may need to:
- Ease your baby into the routine over time
- Schedule babysitters when needed
- Write out your routine
3. Write Up a Thorough Business Plan to Minimize Surprises and Help Reduce Overall Risk
To increase your company’s odds of making it, it’s important to have a business plan. This plan can serve a dual purpose by helping to keep you on track when you’re busy juggling work and your new baby.
Within the plan, make sure to include a complete description of the business model, as well as your plan for marketing and selling your services. Steps to start a new business should also include information on how the company will be structured, the sort of funding you may need to start up effectively, and financial projections. Fortunately, you can work with companies that can simplify and streamline the setup processes. For example, if you’re starting an LLC, do some research on how to start a company with ZenBusiness, a formation company that can assist you with filing all the necessary paperwork with the state.
4. Get Funding
There are a number of funding options available to entrepreneurs, and the best choice will depend on the individual business and its financial needs. One option is to use personal savings. This can be a good choice for businesses with low start-up costs, but it can also be risky, as you may need to dip into your personal finances if the business fails. Another option is to take out a loan. This can provide a larger sum of money up front, but you will need to repay the loan with interest, which can be a burden for a new business. Lenders will analyze your credit history and score to determine your creditworthiness. Finally, you could look into venture capital or angel investors.
5. Use Technology and a Specialized Office Setup to Make Keeping an Eye on Your Baby Easy
Fortunately, for busy moms trying to start a business, there are several technological resources that can help. For instance, you can download organizational apps or install baby monitors and cameras to make it easy to maintain a good work-life balance. You can also adjust your office setup to make it more baby-friendly. For instance, make sure your office includes:
- A crib
- A changing table
- Baby supplies
6. Lean on Community Resources and Tools and Rely on Friends and Family
Lastly, don’t be afraid to use every resource and tool at your disposal, including leaning on family and friends, to juggle everything going on. For instance, you may be able to leave your baby at a daycare center or with relatives during the workday.
It is possible to balance a new baby and starting a new business with enough care, planning, and dedication. Simply follow these six basic steps to begin. It’ll definitely take some hard work and dedication on your part, for sure, but the end results will be truly worthwhile!
