Are you a new mum thinking of setting up a business? Here are some tips

So many people dream about working for themselves – but when you become a mum, the idea of being able to work more flexibly becomes almost irresistible.  Just imagine setting your own hours so you can be with your kid(s) more and not having to commute. Plus having the op[portunity to do something that you really really love.

This is why many mums consider setting up their own business. Being a new mum is tiring but it doesn’t mean your brain has stopped… You can still start that business.

In fact when your baby is first born he or she willl do a lot of sleeping and feeding. You can use this down time to start coming up with some ideas. And it’s a great way to make that 3.00am feed a bit more fun. It’s just a case of turning that early hour’s creativity spurt into something productive.

Here is how you can make it work:

1. Do your research

Will the people you want to target buy your product or service? Is it unique enough to be appealing? Look at your competition and work out how your business could be different or better.

2. Create a Business Plan

This should  help you set out aims and objectives, and the steps you need to take to achieve your goals.

3. Have a marketing plan

Work out how you’ll promote and market your business. Add a margin to your product or service price which will go towards promotion. Also have a planning session where you investigate advertising, marketing, PR and events. Come up with activities you’ll do each month to promote the business, and spend 15 minutes each day doing them.

4. Promote online

Start a Facebook or Twitter account in the name of your business, create a blog and a Facebook fan page. Also link your different networking sites together.

8. Target customers

From day one, start a customer database so you can send out regular newsletter and information. It is easier to get existing customers to buy again than to find new ones.

9. Keep on top of your admin

Yes, we know it’s not the most exciting of jobs, but it’s best to keep a spreadsheet detailing every item of expenditure and revenue from the start than wade through a teetering pile of receipts when your tax return is due.

10. Get support

Allow in your business plan for help: you could find a bookkeeper, or get someone to help with PR, marketing, packing and post office runs or admin. Mental and emotional support is crucial, too.Get in touch with other start-up mums via networking meetings or online and you’ll eventually build up a nice group of people who understand exactly what you’re going through.

11.  Trade with other parents

For instance, your friend might be a great web designer so she designs your business website and in return you use your amazing cooking skills to cater her daughter’s first birthday party. Ask around and see what you can trade…

12. Don’t underprice yourself 

Do your math and price costs of your materials/time and work out an hourly rate. ‘Lots of people underprice their goods/services because they lack confidence or don’t want to price themselves out of the market.  Your time is the most precious commodity – don’t forget that.

13. Remember the three P’s:

Plan: Always have one. Then if you only have an hour while your baby is asleep, you’ll know what you’ve got to do and won’t waste your time.

Persist: Starting a business is harder than you think. It’ll take longer, more promotion…well, more everything than you think.

Promote: You have to push aside your inhibitions and insecurities and go for it! ‘You can have the best idea in the world but if you can’t promote it, it won’t work,’ says Antonia. ‘If this involves talking about your business in front of people you’ve got to do it.’