Starting a Home Business: Foundations

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What Bakers Know About Starting A Home Business

You can learn everything you need to know about starting a home business by baking bread. It’s fitting, then, that two of the most common slang words for money are bread and dough!

To a beginner, baking bread seems hard. In reality, it is a straightforward process that begins with combining simple ingredients into dough, a basic substance that has the potential to become any number of things the baker can imagine. Next, that dough is nurtured with kneading, additional ingredients, and time. Finally, the dough is shaped into a smaller version of its mature form and slowly, yet consistently heated until it scales into the final product. When the bread grows, the baker consumes the fruits of her labor, which gives her what she needs to bake even more!

Do you get the picture here? The actual steps involved in baking are easy. The challenging aspect is developing the skills to flawlessly execute them. That is something that comes with time.

The more you bake, you become familiar with the stages that happen during the lifecycle of making bread.

You learn to take into account variables such as the way certain ingredients interact, the temperature of the room, the moisture of the dough, and the vessel in which the dough will be cooked.

When you’re building a business, you begin with a few basic ingredients — an idea, a product or service, a strategy, market research, seed money, systems, and tools. After you’ve started your business building “dough”, you learn to consider the relationships between your product or service, your audience, your platform, and your financial goals in order to shape it into the final product — the “bread” of financial prosperity!

So, mama, the bottom line is: if you can bake a loaf of bread, you can start a business at home!

“The actual steps… are easy. The challenging aspect is developing the skills to flawlessly execute them.

The First Step: Generate Home Business Ideas

There are so many ways to make money at home, but only a few of them will make sense for you and your lifestyle. Take out a piece of paper and spend some time thinking about your current skills, talents, abilities, likes, and dislikes. If there’s something you don’t know how to do yet, but you’re passionate enough to learn about it, add that to the list.
Now that you’ve got your preliminary list of ideas, choose the 5 ideas that make you feel most excited. Enthusiasm and passion are important factors for you to consider.

With all your other duties as a mom, carving out the time to pursue this dream is going to take serious motivation on those days when life is coming at you fast and furious. Extra money is nice to have, but you won’t be making any if that’s your only reason for adding work on top of your work as a mother.

The business idea sweet spot is one that you can make money from and that will make you feel excited to “go to work” every day.

Step Two: Monetizing it

Determine how you want to earn money with your business. If you’d like to start a product-based business, you’ll obviously make money when people buy your goods. The same is true of a service-based business. When you are an infopreneur, such as a blogger, podcaster, or course creator, the options become more varied.

For example, there are bloggers who use their blogs to get hired for service-based positions, those who rent out ad space on their websites, those who sell their own digital or physical products, and those who are affiliates for the products and services of other businesses. Some bloggers even use all these streams of monetization.

If your business idea has multiple options for making money, pick the two most straightforward ways to start. You can adjust your income streams as your business grows.

Step Three: Plan of Attack

Decide how and when you will operate your business. It’s important to sit down, write out your typical daily schedule, and determine when you can dedicate time to growing your home business.

When I began to look for ways to make money as a stay at home mom, I had an idea that I would become a software engineer (like my daddy!) and work remotely. I was pretty excited about the possibility until husband sat me down and asked how I could realistically do that when we had two very young children whom we planned to homeschool.

I didn’t want to admit it right away, but he was right. There was no way I could function well as a remote member of a team because caring for my children requires more flexibility than a full-time remote position would allow. My goal was incompatible with my lifestyle, so I had to come up with a new plan. The good news is I’m using my love for tech to build a business I love and to help other moms do the same!

Here are some things to consider about your lifestyle preferences and your home business plan:

  • When will you get the work done? Late at night? Early in the morning? During naptime?
  • Where will you work? At a café? The dining room table? In your own office?
  • What needs to change in your current schedule? Will you have time to remain an active member of that committee/club? Wil you be able to socialize as often? Should you change what time you wake or sleep?
  • How many days of the week do you need to work? How many hours do you need to work each day?
  • Do you want a business that requires a strict schedule or do you need a business that allows you to be flexible with your time?

Step Four: Seed Money

You will have to spend some money in order to start your business. It’s unavoidable. You can save money at first by being resourceful but growing your business will mean spending money on the tools you need to run it successfully.

How will you finance your new business? Will you take funds out of the household budget? Will you get a small loan from a relative? Will you sell items you no longer need? Or will you keep working part time doing side hustles to bring in a little extra while you create your own company?

Step Five: Finding Support

No woman is an island, though you may sometimes wish you were living solo on an island on the days your children are driving you up the wall!

You WILL need support on this journey. Your husband or partner is your most important supporter since your decision to become an entrepreneur will affect those closest to you first.

Next, you should surround yourself with like-minded individuals. Reach out to your mommy group pal who has a reselling business, your cousin who offers virtual coaching, or your former college pal who advertises her freelance writing services on social media. You can swap tips, laugh about zany customers, or cry together during rough patches.

Entrepreneurship can be difficult and lonely, even though it is immensely rewarding. You should be your own cheerleader first of all, but don’t underestimate the power of having your squad in your corner!

Find your tribe and stick together! You will need their encouragement when the road becomes bumpy.

If you’re looking for your virtual Mompreneur Squad, join us in Savvy Mamas Making Moves.

As a stay at home mother and one of your children’s primary caregivers, having support also means providing your children with what they need to cope with the lifestyle change. Depending on their age, your household, and your means, this could mean dedicating one day a week to kid-friendly outings, hiring a babysitter for a couple hours a week, or doing a childcare exchange with your neighborhood mama-friend.

The last thing you should do is make your children feel that they are being abandoned in favor of your business. You only get one shot at raising your precious babies, so be mindful of their feelings as you pursue your entrepreneurial dreams.

The Final Word

There you have it! These are the first ingredients you need to become a successful bread maker. With a little hard work, you could be rolling in the dough! Stay tuned for the next installment in the series: Developing an Entrepreneurial Mindset

Remember to join our private group for business minded moms: Savvy Mamas Making Moves

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