Business Plus Baby

May 16, 2011May 31, 2011

Becoming Self Employed: Making The Leap

Michelle McCann (@MammaMcCann on Twitter) of Brighton Mums, Social Media Mums and blog Mamma McCann (phew!) asked, during a Mumpreneur Hour last week, how others managed the decision to go self employed, embraced the fear and made the leap.

(If you’ve not checked out the Mumpreneur Hour, every weekday between 2pm and 3pm (UK time) Mumpreneur UK host a chat on Twitter. Just use the hashtag #mumpreneurhour to join in.)

So here’s my advice on how to manage the more emotional, less practical side of going self employed…

It’s OK to not have a brilliant business idea

If you read about going self-employed in magazines or even on the web, you’ll hear about how an intrepid entrepreneur had a flash of inspiration and decided to invent a product that the world had never seen before. So she wrote a business plan, got a bank loan, ditched the day job and voila! a business was born.

I’m sure this can happen, but it can leave you feeling a bit second-rate if your reason for making the leap is that you can’t get a job to fit around your kids or you’ve been made redundant. Although many self-employed people have an entrepreneurial streak, often it takes an event like having a baby or losing a job to push you into self employment.

It certainly did for me – twice! The first time I had the boss from hell, handed in my notice and suddenly I was freelance. (Note freelance, not unemployed!) The second time I had a baby and couldn’t face putting her in a nursery full time (full story on my about page).

So don’t worry about not feeling somehow properly qualified, just get stuck in.

Get your finances under control

If you’re starting out in self-employment, you’ll almost always have taken a drop in income.

Maybe not having a job is what has propelled you into self employment in the first place (see above!), perhaps you’ve had to give up your job to go self-employed or maybe you need to save up to buy some expensive equipment.

Ideally, it’s best to have some savings to fall back on but that’s not always possible (again, see above!). If not, you may need to do some serious budgeting to live within the income you do have. My favourite sources of info on this are Money Saving Expert and Baby Budgeting.

Financial worries can really drain you at a time when you need all the energy and creativity you can get, so it’s best to take any practical steps you possibly can to live within your means.

Get comfortable with being uncomfortable, at least at first

If you’re making the move from job to self employment, giving up a steady pay-cheque can be deeply unnerving. Even if you’ve been out of your career for a few years to have kids, you’ll still be used to the idea of being paid regularly for doing a certain amount of work. Other aspects of self employment that freak people out are setting your own prices, doing your own sales and marketing and dealing with customer complaints. Yikes!

It does get easier with time, but you should be prepared for some stress at first. Fortunately, there are steps you can take to deal with this stress. Read on…

Have a plan but be prepared to change it regularly

The lack of structure can be a killer when you’re self-employed. Not having to show up to work and answer to a boss can be both a good thing and a bad thing! With no employer to give your work a purpose or direction, you need to find a way to do this for yourself. Having a plan is essential if you’re going to avoid going round in circles or grinding to a halt, but be prepared to update your plan regularly. Sometimes daily!

Don’t be a loner

You need self-employed people around you, for several very good reasons.

First, employed people will struggle to understand you. If you have a bad day, you need someone to say “Yep, I know what you mean, that happpens to me too. It’ll be OK” rather than “Don’t worry, you can always go out and get a job”. I don’t have anything against employed people, by the way. It’s just that it’s a different way of thinking and you need at least a few people around you that think like you do.

Second, your perception of ‘normal’ comes from the people around you. If you’re the only self employed person you know, you’ll feel like a risk-taker who has recklessly leapt off the career ladder into a working wilderness. If you have a circle of self-employed people around you, you’ll (OK maybe eventually!) feel like it’s an alternative career choice that has loads more possibilities for interesting and rewarding work. After all, it’s working out for them so why shouldn’t it work for you?

Here’s my post on how picking up the phone helps me with self-doubt.

Being able to motivate yourself, to turn your hand to a number of different tasks and being able to take the initiative are all incredibly useful if you’re self employed. But if you know you are weak in any of those areas, you could partner up with someone who complements you. It could be a business partner, but it could also just be an ‘accountability partner’ who you get together with weekly and agree the tasks you’ll both get done that week.

You can hook up with other self employed people on Twitter (feel free to tweet me @HelenLindop), Facebook (here’s where you’ll find me http://www.facebook.com/businessplusbaby) or one of the many business mums networking groups.

Be a stress-buster

Have some quick and easy stress-busting techniques to hand for when it all gets too much. Dancing around the living room to some loud music, a brisk walk in the fresh air, a long bath and a good book are all easy and won’t make a dent in your budget.

That feeling of complete overwhelm can sometimes be paralysing, so remember to keep taking those steps forward one at a time and you’ll get there. I promise.

How do/did you deal with the emotional side of going self employed? Drop me a comment below.

PS If you’re still hoping to make the leap but don’t yet know what to do, check out my book Start a Family Friendly Business:129 Brilliant Business Ideas for Mums

photo credit: [nohide]jronaldlee[/nohide]

May 13, 2011May 12, 2011

Small Business Freedom

Having a family and trying to run a small business can seem like an insurmountable challenge to many, but plenty of people find that doing both is surprisingly achievable. However, the key to making things work effectively is to have a plan of strategy and being able to decide on where to run your venture.

While working from home has long been seen as the ideal way of being able to juggle a hectic family life with business activities, there is now another option that is also proving to be very appealing, especially to people who are looking to expand their venture.

What to look for?

Keeping overheads to a minimum is top of the list for many people who are starting out in the world of business, and having small children also means that you have to factor in childcare costs if you’re trying to spend at east part of the day concentrating solely on your business.

Thanks to the internet and these recessionary times, however, there is now a quick and easy way of finding desk/office space in shared and serviced offices, at hugely competitive prices. These days, you can hunt out rental space in much the same way as you’d look for a broadband or mobile phone deal, and compare what’s on offer in one place.

Keep an eye out

So, use the web to carry out an office space search using one of the new comparison websites and this will soon reveal that your office or desk space possibilities are actually a very realistic proposition. The great benefit with renting even just one desk in a shared office is that you can have a base for your business that is away from the topsy-turvy home life than many parents have to try and work around.

Better still, you’ll find that desk space rental schemes are well priced and the contracts are very flexible too, meaning that you’ll probably be able to get some desk space on a rolling-basis in terms of contracts and move in and out at fairly shot notice. Going for this sort of arrangement in an already running office area will also mean you get basic utilities along with an essential such as broadband internet.

Move on up

For those with small families but who have designs on building a business further then it’s also worth using the comparison option to find shared office space. This is a step up from desk space rental in the fact that you’ll get the chance to have a greater area to rent. Added to that, the shared office will often come complete with receptionists, post and IT support.

However, this sort of arrangement still comes with the benefit that you can enjoy a flexible contract and again, it can be relatively short–term, especially when compared alongside the hassle of buying a property. Most of the office space rental schemes operate either in city centre locations and/or prime business parks too.

One of the best things about going down this route is that you instantly give your business venture an added seal of credibility. You may even find that these state of the art buildings may well come with childcare facilities in the vicinity too.

After all, with this kind of business arrangement proving increasingly popular, it’s clear that many parents need the added flexibility of having decent facilities close at hand.

About the author: Rob Clymo writes on behalf of Office Genie, the UK’s first proper online marketplace for desk space and shared office space.

May 11, 2011February 1, 2013

How to Earn What You Deserve as a Mumpreneur

UPDATE, Feb 2013: I wrote this post as part of the launch for my Earn What You Deserve as a Mumpreneur e-course in May 2011. The course is no longer available, but this post has some fab advice, so enjoy!

Being a mumpreneur is tough. You’ve got all the usual business balls to juggle, but you have to fit them around toddler tantrums, sick children, broken sleep, piles of laundry and everything else a mums does. Mums in business are often motivated by needing family-friendly work rather than an entrepreneurial urge and our learning curve is a steep one.

With the business and your clients, partner, friends and children all demanding attention it’s easy for the money-making to slip down your to-do list.

I’ve asked successful business mums and small business experts for their top advice for earning what you deserve.

Here’s what they said..

Focus on what you do best and outsource the rest. Surround yourself with a network of peers and partners who can take on the tasks you don’t want to do. This could be anything from admin to accounts, sales or technology but handing it to the experts will help you grow whilst keeping overheads low.

Emma Jones, founder of small business support company, Enterprise Nation www.enterprisenation.com

Whatever business you decide to set up, make sure it makes you HAPPY!

Adriana Lokman, Director of Enterprise Start-Up & Development Association (www.esuda.co.uk)

One of the reasons why I see mumpreneurs not making enough money from their home business is that they are not presenting a professional business to customers, and not yet behaving like the boss of a professional business (which they now are) To be taken seriously by prospective customers and the wider business community I believe that us mums running businesses from home have to set a high standard, invest in ourselves and show everyone that we can make ‘home made profits’! No more dabbling…for serious results take your business seriously.

Mel McGee, founder of www.supermummy.com – online community for business mums and author of ‘Millionaire Mumpreneurs’ For FREE membership visit supermummy.com

My tip is to value yourself and what you offer. Too many mums in business pitch their products and services at the cheaper end of the market. Do your sums properly to work out the costs of running and promoting your business. Listen to the thanks and compliments you get from clients or customers. Truly value what you do, set your prices accordingly, and you’ll find others value what you offer too.

Author and award winning entrepreneur Antonia helps mums get into business at Become a Mumpreneur.

Planning is a key part of any business especially when you are combining it with a family & marriage. Ensure you plan your work time and play time that way everyone knows what is happening and when but also plan for the future for your business – unless you know where you are going how will you know how to get there? Set yourself goals/targets for 3/6/12/24 months and keep reviewing them remember to include within this your marketing plan otherwise you will be aggressively waiting for the phone to ring rather than being proactive.

Debbie Mann Founder of Independent Property Inspections and Manager of The Mumpreneurs Networking Club.

Invest in a good email marketing system and offer a newsletter or opt-in report. The better relationship you build with potentially interested customers, the easier it will be to earn their trust … and their custom!

Karen Skidmore, marketing mentor at CanDoCanBe and creator of the Web Tech Club, the marketing club for technophobic business owners

Stop thinking like an employee and start thinking like an entrepreneur. The average hourly rate for everyone else may be £10 an hour, but you’re not everyone else. When you’re the boss you decide what to charge and how much you want to earn, it’s a perk of the job! I like to work backwards from my goals. I figure out how much I need to realise my goals and then how much I need to earn per month/per week. I create and sell products that help me achieve that income and in turn my life goals. In short where you can, stop selling time for money and where you can’t ensure that you’re selling it at a rate that makes it worthwhile. Time is the scarcest commodity we have, treat is as such.

Erica Douglas, ACE Inspire, winner of Best Start Up 2010 at the Mumsclub Business Awards

When you create a new business, look carefully at what’s already out there. Copying someone else’s idea only works if you know you can do it bigger, better and (ideally) cheaper. It’s far better to try and carve out your own niche and identify a brand new opportunity if you can – and the chances are you’ll feel far more passionate about it.

Sally Whittle, Founder, Tots100

we need to remember that pricing is part of our brand. our price sends a message to the world about the value of our products & services. we must value our own expertise, talent and experience if we expect others to, and we must price our work so that it matches our brand message & the values of our ‘ideal clients’.

karen gunton of build a little biz and author of the workbook build a brand.

“They say that 80% of your productivity comes from just 20% of the work you do, so for every ten items on your do to list, just cross of the eight least important! You’ll be amazed how it focusses your mind…”

Jo Middleton, freelance journalist and writer of the award-winning blog Slummy single mummy.

Work out what makes you special and then tell everyone about it. Don’t be shy – you are capable of much more than you think.

Amy Taylor, Founder of Amy Taylor Accountancy, specialising in accounts and tax services for Mums in Business. www.tayloraccountancy.net

Don’t hide your face behind your business. People buy People so let your customers know who you are

Laura Morris, Founder of www.rentabuggy.co.uk and Business Mentor at www.mumtomumpreneur.co.uk.

We often don’t recognise our skills as valuable. Because we may find something easy to do – it’s hard for us to believe that someone else will pay us to do it for them. If you want to put a real value on your time, start by working out what it would actually cost to replace you in the home. It’s quite an eye-opener.

Heather Bestel – Award Winning Business Mentor for Mumpreneurs, www.mumsgotabusiness.com

Be open to doing things that don’t seem to have an instant payoff. Twitter is a lot of work, but it’s brought me one big client and several smaller ones. I never know it would be so lucrative for me! So don’t dismiss things just because you don’t know or understand them.

Liz Weston, providing Marketing, Comms and PR solutions through Weston Communications, www.westoncommunications.org.uk

Force yourself to stay focussed on profits at all times – it is easy to get caught up in exciting ideas, but if they won’t show a return on investment that is really worth the time and effort you put in, they are not good business sense.

Polly Marsh, Director of Cuddledry, makers of the award-winning Cuddledry apron towel

Be bold in making changes – don’t hang onto a product, service or idea just because you like it or ‘it’s always been there’ – if it doesn’t make money, you have to ditch it.

Helen Wooldridge, Director of Cuddledry, makers of the award-winning Cuddledry apron towel

Don’t be afraid to use a lifeline and call a friend or email another Mumpreneur and ask for help or advice. I found being brave and connecting with like minded business women has really helped my confidence and direction with my businesses.

Emma Burford of www.mumsbusinessdirectory.com and www.sayitwithchocolate.co.uk

Celebrate all your accomplishments and achievements – no matter how small they may seem, this could be a vital turning point for your business and believe in yourself and your product as if you don’t, no one else will!

Suzanne Borrell, Director of PR, Communications and Marketing, What’s on 4 Ltd and Event Director, BabyExpo Babyshows
What’s on 4 Ltd – www.brightonbabyexpo.co.uk/baby-show

Don’t be afraid of technology. Even if it seems daunting, it CAN help. It’s worth getting up to speed with what’s out there, especially what’s available using ‘the cloud’ (i.e. web based!). Using specific tools and apps (often free) really can help you work smarter. Do invest a little time up front to find what could help you in the long term. It’s also great for business continuity should something unexpected happen!

Jane Geldart – Owner of PlantPure Candles (www.plantpure.co.uk), Group Leader for Mum’s The Boss Avon and Somerset.

Choose a business that suits your personality and passions. DO you like to work indoors or out? Do you like to work on your own or with a team. DO you like to meet lots of people. Do you like set, regular hours and tasks or a varied, flexible life. Is there anything in the world that you really love doing, and anything that you really really hate? Write down your answers to all these questions and any more you can think of then compare them to how you would need to work in the business you are thinking of starting – does it work for you?

Debbie O’Connor, Motivating Mum UK

Pitch yourself as an expert in your genre, write a blog giving some tips away for free and charging for your ‘expertise’ … this will help with PR, marketing for your business and not cost you anything. I now have local radio stations call me all the time about mum/business related topics

Joanne Dewberry Dorset Business Mum of the Year – www.joannedewberry.co.uk

May 10, 2011May 19, 2011

Business Mums Blog Carnival for May

Are you a mum with a business and a blog? Join in the May Business Mums Blog Carnival and get yourself more readers and comments!

You don’t even need to write a post for the carnival, just pick your favourite from the posts already up on your blog and send the link to the carnival host. This month your host is Heather at activatefundraising.com.

To enter, email the link to your post to heather (at) activatelimited.com by Monday 16th May.

The carnival will be posted on activatefundraising.com/posts/ on 18th May.

If you’re not sure how it all works or what kind of post to enter, you’ll find everything you need to know on the Business Mum’s Blog Carnival page. And you can get your own blog carnival badge there too!

May 9, 2011October 18, 2012

Putting More Money in Mumpreneurs’ Pockets

Did you know I’m on a mission to put more money in mums’ pockets?

A few years ago I was struggling to find a business that I could run around my baby. I wrote about my business ideas here at Business Plus Baby and that led to me co-writing the book Start a Family Friendly Business: 129 Brilliant Business Ideas for Mums.

While I was doing this, I spoke to a lot of mumpreneurs and noticed…

• They were talented, hard-working, creative, supportive and generous.
• Many lacked confidence, especially when naming their price
• We all have beliefs around money that affect our behaviour, but being a working mum gives you a load more baggage to carry!

From looking at their business models and the prices they charged I could see that many mums running businesses were earning less than they should considering their skills and experience. Some were barely making a minimum-wage income once their expenses were taken into account.

It really got to me that all that hard work, generosity and talent was not being properly rewarded. The end result would be that most mumpreneurs would have no choice but to return to employment once their kids were older and childcare was no longer a headache.

That’s not a problem if you genuinely want to return to a job, but it’s heart breaking to have to give up your business just because you aren’t earning enough to carry on.

I wanted to help. That’s why I created the Earn What You Deserve as a Mumpreneur e-course, which I will be launching this Wednesday 11th May.