It’s not difficult for a business owner to start their own online business. You just need a bit of guidance.
Learning How To Start Online Business
Every parent is urged to do what’s best for their kids at some point. But one way to be savvy about what’s best for you as a parent is to incorporate yourself into your child’s daily routine. This can be the best way to create a dynamic parenting bond. If you’re considering setting up your first child-run online business, here are some tips for getting started and raising a startup-minded mind-set.
Planning Before You Start
While most new businesses require three to six months of initial seed funding, you can start small and scale up later. According to Angela Rule, co-author of The Entrepreneur’s Daughter, your Internet business can be as modest as a $50 monthly subscription or you can start with a low-spending client.
“Don’t worry about becoming overnight millionaires,” says Rule. “Instead, start small and start to build relationships over time.” By knowing what you can produce and how much time you want to spend on your startup, you can make a solid business plan. No matter the size of your business, you can always scale it up later.
Once you have something to show for your labor, don’t rush to get it out into the world. As a new mom, you can’t exactly let your kids out into the world without knowing that it’s safe to do so. By starting your business slowly, you can control and monitor the amount of time you spend on your website and apps. By all means, consult with professionals about safety issues, such as making sure your Internet pages are secure. In addition, you can enhance your products by asking mom friends about the products they use and see what they think about them. Having mom friends online is a way of supporting and promoting your new venture.
A Constant State of Development
Whether you launch your business on the weekends, nights or during the day, you’ll always be one step behind your child. Your online team is going to be both your most important resource and your biggest competition. As the time you were as a toddler evolves into the time you are a teen, things will move faster. You will have to prepare yourself and your ideas for new opportunities and sudden changes that may arise at any given moment. Remember, your child may never have as much time, energy or patience as you do. If you do get to the point where you feel as if you need to get your business off the ground, help them tackle these hurdles ahead of you. As an example, your child may have to learn how to handle abusive emails and tweets from haters online. Your child is going to need some help to set up her website and app. Helping them with these everyday tasks will help them feel like they are working towards their dreams, and you’ll be a huge help.
Consider your business on an annual or weekly basis. If your child is 9 or 10, her business will probably be a wedding website. At 13, your business will likely be a health health line or beauty item. Whatever age your child is, you can ramp up your new ventures slowly, giving them time to get established. When your child becomes an entrepreneur, they won’t want to start something new. They will want you to help them run their business, and your next online business can be something entirely different.
Get Professional Help
Over time, you will learn the business basics, but you need an expert on your team to ensure they are operating at peak performance. For instance, find out which tools your child needs to succeed. For example, if they want to start a beauty product line, you can hire someone to help them design and create product samples. Ask around for resources to teach your child how to use marketing tools and find sponsors who will build their online presence.
Most entrepreneurs are accustomed to their online identities being accessible on the internet. But what if your child’s identity is different? Leave it to them to create their business’s online presence so that it is consistent with other websites they visit. Protect your child’s identity by setting up separate passwords for every online account and monitoring their digital footprints to determine where their words and words are being used. (You don’t want your daughter to appear on YouTube or somewhere else as the owner of a content company.) You may also need to install software that tracks social media use and files.
Plenty of wisdom comes from decades of trial and error for entrepreneurs—which makes them very powerful people. However, don’t forget that trial and error are also ways that fail. Valuable wisdom comes from real-life experience as well. Creating a child-run business, just like any other venture, comes with some uncertainty and ups and