Running Business from Home is a great Opportunity for Mompreneurs. Moms may have experienced problems and found solutions. The fellow moms who are experencing same problems may be looking for solutions,
Passion is an ingredient for successful ventures. The passion for writing can be used to start blogs, write stories or have niche blogs to create a recurring revenue machine.
Home based business- Your passion is an opportunity.
You are a mom who wants to turn your passion into a home based business.
You love cooking and you keep experimenting various recipes.
“Partner with your family. Too often we think of career and family life as two entirely different spheres. I’ve found it key to my own work to bring my husband and children into the process, rather than seeing my work as an obstacle to my family life or vice versa.”
JenFulwiler- Author & Radio Show Host
Give Yourself a Personality Check
"Being a home-based business owner is not for everybody. Focusing has never really been my problem, but some people physically need to drive away from their house to find structure. The first part of starting a home-based business is recognizing what kind of personality you have. If you need someone else to give you that structure, or if you are a procrastinator, a home office is probably not the best thing for you." --Jim Anderson, LeadDog Consulting
While running a business from a home may help a firm to save on costs, those who plan to expand their business in the future, should weigh their options before making this choice. For many start-ups and small businesses, other than the operational cost, the real estate cost proves to be a major impediment in the intended growth. Thus, a number of small businesses are often run from residential areas. Consultants, advocates, doctors, etc., run their work from their homes. While converting a house premise into an office can help one to save on real estate cost, there are other permissions and expenses that one incurs while doing so.
Are you a mom planning or thinking on how to productively use your spare time. Read the real life story of Rita and may be a new home based business will be born
Rita has two young children and she loves cooking for them.
She as not satisfied with the quality and price of ice-cream available in the market. She is an expert in making ice-creams and knew she can prepare at half the market price.
Her passion for cooking and experimenting led her to become a successful entrepreneur.
Rita lived in a metro town with her husband and two young children. She is a home maker
The family lived in an apartment complex and Rita was active in all functions in the apartment complex.
Rita was free after 9.30 am till about 4.30 pm when her children return home. She wanted to surprise them with an after dinner dessert. She prepared the ice cream and kept it in the freezer.
Rita invited a few of her friends and neighbours for a get-together and served snacks and ice cream. Her friends complimented her on the quality of ice cream and could not stop talking about it..They wanted to know whether she could supply to functions in their houses.
Her spouse encouraged Rita to start a regular business under the brand name “Yummy Ice cream”
Rita started supplying ice creams at least twice a week and over the next six months she saw her bank balance going up, as the profit margins were close to 35%.
Growth of business
Rita also collected 50% as advance payment.
Rita’s demand for ice cream started going up. She employed a woman to help her in preparation and delivery of the orders.
Reputation spreads fast and Yummy ice cream was at least 25% cheaper than well established brands. Nearby restaurants were willing to give regular orders and also promised advance payment for raw material procurement. However she had to give them fifteen day’s credit.
Accelerated Growth- Decision Point:
Rita consulted her husband about the new opportunity as it involved procuring equipments and also renting commercial space since bulk quantities had to be manufactured.
They approached their bank manager who was willing to give overdraft facilities.
Rita’s spouse took a decision to join the business once the family noticed that their business was expanding rapidly. Rita’s spouse resigned from his corporate job and joined her. Ritaa took responsibility for procurement of materials and manufacturing and her spouse for marketing and administration.
The business ,now, employs 5 women.
A home based business grew to become a medium sized business.
PS; The business attracted attention of a competitor who had registered “yummy ice cream” as a trade mark and threatened legal action.
10 Small Business Ideas for Women
“But you have to do what you DREAM of doing even while you’re AFRAID”- Arianna Huffington+
1. Passion can become a business
2. Build Network
3. Check Legal Requirements
4. Register your brand
5. Family Support is crucial for success