What is a successful mumtrepreneurship? The new year should be a time of change. It should be a time or a reawakening. A time when we check ourselves for falling asleep at the wheel and carry out a frank and thorough audit of our lives. Are we living to the fullest or are we allowing our skills and talents to go to waste?
Are we actively seeking out new challenges and opportunities or allowing our abilities to atrophy? While many of us start making better choices about the food we eat, how much we spend frivolously or how much exercise we undertake around this time of year, the dawning of a new year is also the perfect time to give your career a shot in the arm.
And if you haven’t been getting the opportunities you deserve, maybe it’s time to create your own. Why endure the slings and arrows and inequalities (like the gender pay gap which could take over 200 years to close) of the workplace when you can go into business for yourself and remake your career on your own terms? If you have your sights set on a successful Mumtrepreneurship in 2020 make sure you keep the following in mind to boost your chances of success and prosperity…
Base your business around something you love!
Yes, it’s important to carry out market research. Yes, it’s essential to ascertain quantifiable interest in the products and / or services you’ll offer. Yes, you need to ascertain demand before you bring the supply and identify your target market… But above all, it’s important to do something you love. Something that allows you to operate where your skills and passions lie. If you’ve always been a fitness nut take a look at these fitness businesses to start. If you’ve always come alive when you’re working with your hands to create things, use those skills to make something that will bring joy to your chosen market. Build your business around something you love and are passionate about… Otherwise, what’s the point?
Keep your overheads under control
When starting out in business, you’ll need to walk a fine line. You’ll need to maintain a healthy cash flow by keeping your overhead costs under control. Even a business that’s run from home can be crippled by hefty overhead costs. Find opportunities to reduce your operating costs without detracting from the quality and experience that your customers should expect from you.
… But be wary of under-investing
At the same time, there’s also a danger in keeping your eyes too firmly on the bottom line. Artificially inflating your profit margins by under-investing in your business can either cause you to compromise on quality or potentially inhibit your growth.
Harness the power of social media
Finally, the strength of a smaller business lies in the ability to give their customers the level of individual care that the bigger brands simply can’t match. Use social media to build relationships with your clientele. Find out what platforms your target audience uses and approach them on their own turf. Take the time to thank them for their custom and share content that will be of value to them. Respond when they mention you even if it’s less than flattering. Responding quickly and proactively to complaints on social media is a great look for your brand!
Thanks for stopping by today, I hope you’ve enjoyed this post.
*This is a collaborative post