Any mother knows that being a full-time mom is the most important life role. But if you dream of creating a business, then there should not be anything to hold you back! You most certainly have the possibility of succeeding, so why not take a chance? Be sure that you look deeply into the drawbacks, however, and know that you are well aware of the logistics behind the business. Starting a business is not a trivial matter. Many good ones have tried and failed mainly because of a lack of knowledge and experience in marketing, management, and finance. To increase your chances of starting a successful new business, we have formulated the most important topics that will help you fulfill your dream.
Step 1 – Business Plan
A business plan is the first and necessary step to get a comprehensive picture of the future business. A good plan is a plan that can be implemented in the Israeli reality, depending on the resources available to you. The plan details important issues such as: what amount of investment is needed to start the business, organizational structure, advertising, and marketing budgets, market and competitor analysis, future profit and loss statements, product pricing, and more. What do you need to buy? Do you need materials, paper, supplies? You can also read about: Guide To The Twenty Best Hospitality Business Ideas.
Step 2 – Consultants and courses
Most new owners have no business experience or management knowledge, or both. Due to this fact, the chances of success are reduced. Try to imagine that you have decided to open a garage for repairing cars, but you do not know how to repair a car. The solution to this is simple – surround yourself with expert consultants: an accountant, a consulting expert, an experienced lawyer. Another way is a business entrepreneurship course where you can get practical tools and practical and immediate managerial and marketing knowledge.
Step 3 – Location Location Location
Whether you are selling a product or a service business, a quality location is a prerequisite to be profitable and successful. You have to distinguish between quality and expensive location like a mall, for example, with traffic of tens of thousands of people a day, compared to astronomical rent, and less quality and cheaper location, but with much smaller traffic than a mall. Or do you want to work from home? As a mommy, you may want to be close to your kids, which is great, so try and see if you can operate from your garage or attic!
Step 4 – Branding
What is branding anyway, and why is it important? Branding is creating a marketing envelope for the new business. Branding includes elements like business name, marketing slogan, logo, business cards, stationery, website, and appropriate signage. The point is, which logo or slogan will suit you? How can new customers easily identify with the product or service you provide? Once you know the branding that best fits your ethos, you’re good to go! Every mom deserves the chance to make her dream a reality!
Featured Photo by Neven Krcmarek on Unsplash