Are you a woman ready to take control of your own financial fate? If so, starting a home-based business may be for you. Thankfully, it’s not as difficult as it sounds, even when you have a family and little capital. Sayaspora wants every African woman to thrive. With this in mind, enjoy the following tips to help you get your business up and running in a man’s world.
Consider your options.
When it comes to creating your own business, there are literally countless options. Spend some time evaluating what you like to do, what you’re best at, and what makes the most money. Hopefully, you can decide on something that aligns with all of these.
Young & Thrifty suggests monetizing an existing hobby. Are you an artist? Sell your paintings. Love to bake? People will clamber for homemade goodies. Depending on your professional experience, you may also try your hand at consulting. A consultant is an expert that helps others run their own businesses.
Once you have made a decision, you can get to work readying your home, finances, and family for the transition.
Prepare your finances.
Many businesses will require little to no money at startup. For others, you’ll have to have cash on hand to get up and running. Take a look at your personal finances. If you have money put aside, consider pulling from your savings. Otherwise, you’ll have to raise capital. You have options here, as well. You might, for example, ask friends and family to invest in your business or reach out to local angel investors for the funds you need.
If you already run your own business, have at least $100,000 in revenue, and a 640 or better credit score, you can find Canadian business loans to help you take your endeavor to the next level. Before you apply for a loan, calculate your expenses. This should include any equipment you need, furniture, and marketing. You’ll also want to plan ahead for any legal services, accounting, and inventory, if applicable.
Make your home work for you.
Perhaps most importantly, you have to create a space in your home that allows you to work unencumbered. Redfin suggests clearing the negative energy out of your house because: “Your home should be your safe haven — the place where you feel relaxed, happy, and at peace. But when bad energy is lingering around, your home can quickly become the complete opposite — a place of hostility and negativity.”
While this sounds like a new-age idea, it simply means doing things like deep cleaning, opening the windows, and removing clutter. You can also utilize sage and other herbs to increase your home’s positive vibes, which can also serve as a symbolic way of christening your new space as your professional zone.
Decide next on where to put your home office. If you need room to spread out and to create, such as if you sell crafts or need an art studio, the garage may be your best bet. If you work mostly from a desk, try to place your office in the least trafficked area of your home. A back bedroom or unused bonus room is ideal.
One very important tip from Work-From-Home Depot is to set rules and boundaries with your family. This means having dedicated work hours and letting them know that mom is only available for emergencies during these times.
Twenty years ago, very few businesses could be run from home. Today, thanks to technology, you can thrive in your career, no commute required. But it does take preparation, and the more you do now to ensure your success, the greater this success will be. So roll up your sleeves, put on your entrepreneurial hat, and get to work.
Visit the Sayaspora blog often for more content that speaks to women of the African diaspora.