Tips that I learned along the way of Starting my Own Business

Discussion in 'Working Women' started by mom2gurls, Sep 22, 2014.

  1. mom2gurls

    mom2gurls New IL'ite

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    After hearing so many inspired stories of women wanting to dive into running their own business, I thought I would share some things that worked for me, and also things you have to ask yourself when starting a home business.

    I am the Managing Partner of an IT firm in the USA. I handle business branding, website design, content/social media marketing(getting your facebook and twitter pinterest up)..and SEO. I love supporting small businesses and I especially love women run businesses.

    That being said, my first job is being a mom to 3, wife, spouse. My life is crazy and chaotic..but I guess that is the way it was meant to be...

    Here are some tips and considerations I learned along the way and I hope that it benefits those your who are considering starting a business or working from home.

    1. What type of business do you want to do? Be as specific and detailed as possible

    2. Is there anyone else in your immediate area doing the same thing?

    3. Are you selling a service (i.e. threading eyebrows) or are you selling a product (i.e Kurtis)..both have different business models and the marketing approach may be different.

    4. Why are you starting the business? Some examples may be:
    • Kids are in school (I am bored)
    • Kids are in school (Finally, I have some time)
    • Not sure why, why not?
    • I always wanted to do this but...(insert reason here)
    • I dont want to go back to corporate world, but I dont want to do nothing either
    • I want to earn on my own time.
    • {Insert your own reason}

    5.Now that I know what I want to do, do I require wholesalers, what the best places to go.

    6. If I am selling a service (I.E. Facials at home).. How will research my price point?

    7. If my idea isnt unique, what makes my services and products different than everyone elses. What sets me apart?

    8. Who is my target market? Will people pay my prices

    9. Do I have the time to advertise via social media to get myself out there?

    10. Am I looking to make this a "time pass business for extra pocket money"..or do I really want to make some money out of it?

    11. ****Is my business plan written?** Every successfull business needs a business plan..no matter how big or small. Some business plans are pages long and some are just a couple of questions.

    12. How much can I invest?

    13. What are my IT expectations (Do I want a website, who will market me, what is my social media and internet strategy?)

    14. Am I just relying on word of mouth?

    15. Am I comfortable talking with people and soft selling to them?




    There are many many more...but I have always found that before any business is starting, there should be some thought and focus put into writing first....This will give you the clarity you need to move forward.

    Good Luck Girls.....lets all support each other!
     
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  2. Saisakthi

    Saisakthi IL Hall of Fame

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    :welcome to IL Family Sister mom2gurls,

    Thanks for the thread, would be definitely useful to many.

    Can you please share if you have knowledge about VCs & PEs. Thanks

    SAIRAM
     
  3. mom2gurls

    mom2gurls New IL'ite

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    Thanks you for that lovely comment. I think its better to be focused from the beginning so you can follow thru with your vision! We can keep discussing how to start and launch a business if the group likes!
     
  4. pantu

    pantu Gold IL'ite

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    Nice tips ! Thanks for sharing.
     
  5. viriya

    viriya New IL'ite

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    Would you help in website design/development which will include online store.
     

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