Today I want to talk about making money while being both a mom and an entrepreneur! In case no one has ever told you, you can be both a mom and an entrepreneur all at the same time. Today we will dive into the first steps you should be taking to ensure you have the money-making portion of your new business squared away!

 

Now, that doesn’t mean that you have to, but if the desire to run your own business or make extra money on the side is tucked down deep in your heart, I hope you know that you are more than capable and deserving of both roles. 

But I get it. I was a young mom once too. Buried in the weight of all that comes with parenting littles while wrestling with the desire to do more, be more, experience more. And the idea of getting a brand new business off the ground was incredibly overwhelming. Too crippling to even think about if I’m being honest. 

I have you covered though. Because I have been there, done that, failed a few times to know exactly what it takes to get the ball rolling. And you can learn all of my tips and tricks inside of The Business Starter Kit!

Inside of this starter kit, I’ll help you unlock those deep desires within you and help you finally discover the work you were placed on this earth to do. 

I love talking about how you can make money while being both a mom and an entrepreneur! Now, if you already have the hopes, dreams, and desires part taken care of, let’s look at some first steps you should be taking to ensure you have the money-making portion of your new business squared away.

Do your homework. 

Reach out to a friend already running a business, search the internet for information on your particular niche, check out similar businesses and study how they run their business, and discover if there is even a need for your line of work. If your business idea can’t solve a problem for someone, make some modifications to your business model until it does! 

Don’t wait until the end of the year to think about taxes. 

Start working with a CPA immediately. I could tell you all of the things my CPA has me do for my business, but the reality is, every CPA has a different way of doing things. So the best way to ensure you are doing all of the right things is to hire a trusted CPA and follow their advice! Trust me, you don’t want to wait until the end of the year to get this legal aspect of running a business in place. Hire a CPA right from the start and you’ll be set! 

Set a budget and stick with it. 

Be vigilant.  Don’t feel pressured to spend money you don’t have or can’t make back. Don’t go into financial debt over a feeling, be sure the numbers justified the return.  And don’t feel pressured to spend the same amount you see other entrepreneurs spending. Everyone’s business and financial structure is different and you need to make sure you’re making smart decisions about the money you are spending. This is where a financial adviser really comes in handy! 

Get creative with running your business. Throwing money at something isn’t always the answer. Find ways to think outside of the box by swapping services with someone or collaborating with them instead of going straight to spending money.

Don’t spend every penny you make. 

Once your business starts to generate income it is going to be very tempting to spend all of the money or invest it all back into your business. But make sure you start a savings account for your business and you’re saving money back for incidentals or emergencies that may arise. You don’t want to go into personal debt to run a business. Again, this is also why hiring a financial adviser is a crucial first step for running a business. They can help you make smart decisions when it comes to your finances to ensure your ability to run a profitable business year after year! 

While making money and taking care of your finances is a crucial part of running a successful business, I urge you to not just stop there. Be sure to continue your education all throughout your entrepreneurial journey and never stop learning new ways to grow and expand! 

If you are looking for the perfect resource to help you build a thriving business, you really need to check out The Profit Plan! 

The Profit Plan is designed to help you turn your passion into profit even if you’re short on time.  With just 20 minutes a day, you have more than enough time to work through this three-step course that will set your dreams in motion and your business on a firm foundation. 

Im glad we got to chat about how you can make money while being both a mom and an entrepreneur! Never stop learning, never stop taking new chances, and never stop loving the work you do. That’s the whole reason you do it, right? For the love of it all? It’s not just about the money (although that’s super important too – so don’t skip these steps)!

For even more content on building a business with the skills and hours you already have, be sure to check out:

The Blush Pages Membership for monthly business content curated exclusively for members!

The Profit Plan for everything you need to start earning consistent income!

The Business Starter Kit  for getting your business off the ground and out into the world!

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