There was a period when a woman went to work only when she lost
either her husband or father, and that too just for earning her living.
But today, the scenario has changed completely. The number of
women-owned small businesses is growing approximately twice as quickly
as the national average for all start-ups. Women tend to grow their
business much faster than men. Even though statistics say that women as
entrepreneurs are slow at decision-making when compared to their male
counterparts, the average turnover achieved by female entrepreneurs is
higher than that of male entrepreneurs.
Some women are from the corporate executive world and they have strong capital investment, and yet some others are from an ordinary financial background, and they have a bunch of questions at the pre-start-up level. Women with any background can become entrepreneurs by starting their own home businesses. But, there are some difficulties while embarking on this voyage.
Here are some tips to swim through those tidal questions and difficulties in starting your own home business.
Knocking on the right door:
Some people still think that women do not have enough opportunities, however, nowadays women are conquering almost every sector. If there are some fields in which you really are an expert, then give it no further thought, but when you don't, then more often than not, it is total mayhem. There is nothing like an apt business or a perfect field. Home businesses can vary from poultry farming to radio stations. So finding the right field to enter is the first and foremost task.
Delegate bureaucracy:
Most of the women aspiring to be entrepreneurs are one step behind just because of the difficulty in negotiating bureaucratic hurdles prevailing, especially for women. Even though there are difficulties in getting things done, things have changed, with several hands reaching out to you to help you through the hurdles. And many websites also provide instructions for each and every step in the process. The problem is not so tedious to handle nowadays.
Capitalising:
It is better to start a business when you have capital for your business rather starting it without sufficient funds. When you start a business, there may be some unexpected expenses coming your way, and handling it without enough financial support is a great risk. The problem is greater when it is a product-oriented business rather than service oriented business as the capital expenditure is higher.
Fund raising:
We can't ignore the bitter truth that traditionally banks prefer not to lend money for new ventures, especially the ones that don't have a track record. But starting a business on the whole is not merely task for women. Hence you need to seek help from special kind of banks like Women's Business Centers (WBCs), Community development financial institutions (CDFIs), Bhartiya Mahila Bank etc. where they empower female entrepreneurs.
Balancing the resources:
Whatever you do endeavour to be the best. There will always be some distractions coming your way while you work at home. Always commit to success. Make a commitment to yourself that you are serious about your business. Be disciplined about your work ethics. And then set up a business-like work environment. You should have a dedicated space for your home-based business. Your computer should be used primarily for business only, and not for any other domestic purpose.
Step 1: Set Your Weekly Work Schedule Some women are from the corporate executive world and they have strong capital investment, and yet some others are from an ordinary financial background, and they have a bunch of questions at the pre-start-up level. Women with any background can become entrepreneurs by starting their own home businesses. But, there are some difficulties while embarking on this voyage.
Here are some tips to swim through those tidal questions and difficulties in starting your own home business.
Knocking on the right door:
Some people still think that women do not have enough opportunities, however, nowadays women are conquering almost every sector. If there are some fields in which you really are an expert, then give it no further thought, but when you don't, then more often than not, it is total mayhem. There is nothing like an apt business or a perfect field. Home businesses can vary from poultry farming to radio stations. So finding the right field to enter is the first and foremost task.
Delegate bureaucracy:
Most of the women aspiring to be entrepreneurs are one step behind just because of the difficulty in negotiating bureaucratic hurdles prevailing, especially for women. Even though there are difficulties in getting things done, things have changed, with several hands reaching out to you to help you through the hurdles. And many websites also provide instructions for each and every step in the process. The problem is not so tedious to handle nowadays.
Capitalising:
It is better to start a business when you have capital for your business rather starting it without sufficient funds. When you start a business, there may be some unexpected expenses coming your way, and handling it without enough financial support is a great risk. The problem is greater when it is a product-oriented business rather than service oriented business as the capital expenditure is higher.
Fund raising:
We can't ignore the bitter truth that traditionally banks prefer not to lend money for new ventures, especially the ones that don't have a track record. But starting a business on the whole is not merely task for women. Hence you need to seek help from special kind of banks like Women's Business Centers (WBCs), Community development financial institutions (CDFIs), Bhartiya Mahila Bank etc. where they empower female entrepreneurs.
Balancing the resources:
Whatever you do endeavour to be the best. There will always be some distractions coming your way while you work at home. Always commit to success. Make a commitment to yourself that you are serious about your business. Be disciplined about your work ethics. And then set up a business-like work environment. You should have a dedicated space for your home-based business. Your computer should be used primarily for business only, and not for any other domestic purpose.
When working from home decide whether you are going to be full-time or part-time, and then schedule your hours accordingly. The best practice is treating it like your regular 9-5.
For example, if you sell makeup and or beauty products out of your home, you should start cold calling at nine in the morning and marketing via social media.
Just because you work from home does not mean you don't have to treat it like a normal job. You should set aside time to promote your business, to complete book-keeping, to create marketing strategies, and to follow-up with previous customers.
It is true, that most people choose to work from home to get away from the strict structure of a 9-5, but until your business is up and running successfully, in the beginning you must dedicate more time to growing it.
Step 2: Get Dressed For Work
Hopefully, if you have decided to work from home, you have a home office.
When you wake up in the morning to go into your home office, dress as if you were going to work, this will help you have a more productive morning and day.
Also, if your business requires you to meet with client's throughout the day, you will already be dressed for the occasion.
Step 3: Avoid Distractions
If you have set your work schedule, stick to it. Don't let family and friends distract you, let them know what hours you have designated to your business. If you are marketing your business via social media, do not get distracted on unrelated post; stay focused on your objective.
If you are a stay-at-home-mom, schedule your work hours for times when the kids are at school. If you have younger children that are not school-aged, create a play area within your home office that will keep them occupied without distracting you.
Also, as a stay-at-home-mom it is a good practice to not mix business with housework. If you must complete housework set aside a separate time from your business hours.
In order, to have a more productive workday you should eliminate as many distractions as possible.
Step 4: Create a Work Environment
If possible, create a home office. Not only is it a tax write-off, it helps the productivity of your business. Your office should be equipped with all the things you need to have a successful home-based business. A desk, computer, printer, and phone are must-haves for a home-based office.
Step 5: Stay Organized and Be Consistent
It is important to keep your work area organized. Maintain and keep an up-to-date daily planner. Keep track of your incoming and outgoing operational expenses.
Most importantly, if you have found a successful technique continue to incorporate it.
