Many busy parents consider starting a business because they dream of leaving behind a conventional 9-to-5 career for a lifestyle business which
a) makes them a great living,
b) frees up more time to spend with their children, and
c) is more enjoyable than their current day to day job.
Unfortunately for many, the reality of starting a business does not live up to their expectations. Instead of working less, earning more and enjoying more time with their children they find themselves worker harder, earning less, struggling to switch off at the end of the day and suffering from more stress than they did in their old day job.
This begs the question….
Is it really possible to achieve the elusive work/life balance that we parents desire (and deserve)?
We think it is and in this post we’d like to share some tips on how – if you are determined and open to new ideas – you can translate your idea into a freedom-based lifestyle business.
Team your new business mindset with a top notch KiwiOz Nanny and you'll be set to enjoy a healthy business and a happy home!
5 steps for creating a profitable lifestyle business that will free up more time to spend with your family.
#1 Do Your Research
It can take time to figure out how you are going to translate your passions and interests into a profitable business. The trick to this is being able to find that place where what you have to offer meets a clear customer or client need. In marketing speak, you need to discover your 'hungry crowd' – the people out there that are just waiting for the product, skill or service you have on offer.
# 2 Create an Internet Savvy Strategy
Whether your business is based online or offline, it would be foolish to ignore the power of the internet as a tool for attracting customers and developing your business. Today, entrepreneurs use the internet to connect with a global market via interactive websites, forums, blogs, social media, and affiliate marketing to name but a few. If you are serious about a business that leverages your time effectively, then spend time surfing the net and educating yourself on how savvy women entrepreneurs use the internet and incorporate these strategies into your business plan.
# 3 Use Business Models that Leverage Your Time Effectively
It is crucial to educate yourself about the different kinds of business models you can use in small business. If you are serious about earning a great living working part-time then you need to look into the following:
passive income generation (products or services that continue to make you money over time with no extra effort on your part)
multiple income streams, or generating income from several different sources (the internet is a great way to do this).
one-to-many or many-to-many business models (e.g. taking a one-to-one service and turning it into an information product that you can sell to more than one person at a time or bringing groups of buyers and sellers together (Ebay is a great example of a many-to-many model but it can also be done on a smaller scale!).
Don't be limited by the mistaken belief that these models are not suitable for your particular product, skill or service, they can be applied to any business.
# 4 Plan to Outsource, Delegate and Automate Your Biz from the Get-Go.
A savvy Entrepreneur will spend some serious time at the outset thinking about how she is going to outsource, delegate and automate her business. Even if you can't afford to do these things when you start out, its important to build them into your strategy from the beginning. The faster you can pass on the work you don't like or do not excel at the better. It will free you up to focus on your strengths and your business strategy. And most importantly, it will free up your time to spend doing the things you love like hanging with your partner and children.
# 5 Speed Up Your Success with Mentoring and Strategic Partnerships.
I'm like a cracked record with this one! You are not alone. Seek out mentoring and support. Often it's free and if you end up paying, it will be worth every cent in the long run. Get help and expert advice in the areas of the business you don't understand. Seek a community of like-minded Entrepreneurs who will egg you on and inspire you to reach your full potential. Look for the leaders or 'go-to' people in your niche or business community and build win-win partnerships with them.
Ready to join the millions of women blazing trails in the world of small business? Then try out one or all of these 5 steps!!
Good luck, we'll see you there!
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