You’re a Mompreneur. One of a new breed of pioneering women who are ready to show the world that we can have it all. We can overcome the petty office politics and the glass ceiling that plague the conventional workplace.
We can make a living doing what we love, rather than resigning ourselves to deathly-dull working days and a lack of fulfilment from our professional lives. That we need not endure the fundamental inequities of the corporate world or the gender pay gap that will reportedly take over 200 years to close.
But the road of any entrepreneur (especially one who has to juggle their business alongside raising a family) is a rocky one. You will encounter adversity, self-doubt and exhaustion throughout your journey, especially in that formative first year.
Here are some important lessons you’ll need to keep in mind as you fight to establish your business presence…
It’s okay if you don’t turn a profit in your first year
You are proud of your business, you’re proud of your product, and you’re delighted by the response you’re getting from your growing base of loyal customers.
However, it’s important to remember that you’ll likely have a lot of overhead expenses to cover in your first year while also trying to engage prospective customers with your marketing.
In other words, your business is unlikely to become profitable in your first year. It’s nothing to worry about and certainly not an indicator that you’re doing badly. In fact, most businesses take 2-3 years before they’re able to turn a profit. But that’s okay because…
You don’t have to quit your day job just yet
As keen as you may be to put your old job behind you, it may not be the most prudent option just yet. Indeed, you may benefit from the income from your day job to keep your household ticking over while you build your business.
While it may be a struggle time and logistics wise, it is perfectly legal as long as you declare all of your income from your side hustle and don’t use company time or equipment on your business.
The better you know your audience, the more successful you’ll be
Small businesses thrive when they’re able to identify and cater to a specific niche. Get to know what they expect from a product, identify what they’re not getting from existing products on the market.
Find out what social platforms they’re using and hire a social media management company to engage them- learn more here. The better you know your niche, the more success you’re likely to find.
Make sure you keep your promises
You’re an ambitious lady who’s hungry for the opportunity to prove herself. You probably have significant growth in mind, if not total market domination.
But take a step back. It’s easy to become giddy on your own success, especially when repeat orders come in from customers who love your products.
However, it’s important to remember that you’re playing the long game. Make sure your reach never exceeds your grasp. Taking on more work than you can realistically handle is a rookie mistake that could be damaging to your reputation, not to mention causing you to burn out.
Keep customers’ expectations realistic, over-deliver where you can, and make sure you always keep your promises. That’s how you’re going to grow your brand sustainably!
Fight through your fatigue and your impostor syndrome. Against seemingly impossible odds… You’ve got this!
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