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Starting any business is commendable and takes determination, organisation, talent, and passion. When you are a work-at-home mom constantly juggling work and family life, starting a business is an even bigger feat. If managed correctly it can help maintain a great work/life balance, allowing you to have a successful business whilst having more time for self-care and family. Here are five tips to stay on top of things and have the best of both worlds.
Budgeting is an essential step in managing any business. As a work-at-home mom with many demands on your time, having the nuts and bolts in place initially will ensure you are not caught off guard later down the line. A fundamental step of setting up your work-from-home business is creating a business budget.
A strong business budget provides the ability to assess where your business stands financially and react accordingly with your spending. You can predict if it’s likely to be a slow month financially and be more cautious, reducing spending to see you through. Similarly, if business is booming it assures you that you can spend more on marketing or brand activity to drum up more customers, making the most of the up-turn.
Budgeting is a key tool in ensuring your business does not go into debt. If you do get into debt you may want to seek debt management advice to get you out of the red as quickly as possible and back to making money. As long as you do all of the groundwork to create a successful and accurate business budget, it doesn’t matter if you’re managing your business from a traditional office or from home. And managing your business from home as a working mom can provide some serious benefits.
Be aware of your overheads
When you choose to manage your business from home you need to know what overheads you will be covering.
A benefit of working at home is that your overheads can be significantly less than they would be if you had to rent expensive office space, but you will still have to cover things such as electricity and high-speed internet connection. There are essentials for being productive and comfortable which support you to do your best work.
To be successful, stay afloat and turn over a profit you need to have sight of your overheads. Don’t forget that you may be able to get tax relief for your work-from-home costs.
Create a workspace
Working from home can provide distractions as well as flexibility if not managed correctly. From the outset, it is important to establish the boundaries to ensure your work and home space can remain as separate as possible and don’t seep into each other.
One way to maintain these boundaries is by setting up a separate workspace. Create a space that is conducive to you doing your best work. Ensure you have any tools or technical equipment you need, such as a laptop, desk, an ergonomic chair and a printer.
Setting up your workspace in this way allows you to walk into the room and be ready for the working day. It also lets you close that laptop lid at the end of the day and leave your work behind.
It doesn’t have to be a separate room but can be a designated section of your kitchen or living room that others don’t intrude upon in the working day.
Set clear boundaries
As hard as it may be in a busy and bustling household, set your boundaries so that your kids, partner or any others in the house know when you are available and when you should not be disturbed. This gives you the space needed and the assurance that important business meetings won’t be disrupted by your children looking for various things throughout the day!
It’s also useful to set boundaries around household chores and child-care. Running a successful business is demanding and requires commitment, time and energy. Being clear with partners or family members on what you can contribute to the house and where you need help can make you feel more supported.
Plan your schedule
A benefit of working from home is that you can choose a schedule that suits your lifestyle. Plan out your working hours, considering any hours that you’ll need to be reachable. In any given week, factor in the necessary time for school drop-offs or children’s appointments. Having a clear to-do list and set working hours will provide a sense of control and balance, allowing you to be productive whilst also making the most of the benefits of being a work-from-home mom. Create a schedule that works for your circumstances.
Being organised, clear with what you need from others in your life and sticking to a schedule that works for your needs, will help you create a perfect balance where your business, family and yourself can thrive. Being a work-at-home mom has its difficulties, but when managed well can be fruitful and rewarding.