Yes, You Can Start A Business As A New Parent - Here's How
Being a parent is one of the most exciting experiences in life. It’s also one of the busiest. I remember those months without proper sleep because I had to feed my first baby every 2 to 4 hours. This made me struggle with handling all my businesses because motherhood always came first.
At the end of the day, the stress was still very rewarding. Because I knew that my child would grow up safe and have everything she needs. And somehow along the way, I also managed to find multiple solutions to my time and money management problems as a solopreneur and a mother.
If you think that being a new parent starting a business is hard to impossible, think again. It doesn’t matter if you’re a stay-at-home or a single parent. I did it with these tips and so can you.
1. Get a trustworthy nanny
You cannot be an efficient solopreneur if you work while cradling your child. You may be able to get some things done but a lot of mistakes will be incurred. I suggest you hire a trustworthy nanny who will help you care for your baby as you work. If you don’t like the idea, you can ask your parents particularly your mother for assistance.
2. Turn off work mode according to schedule
One of the joys of working 9 to 5 is that you’re able to stop working when office hours are over. In business, it will be very different especially if you work at home. Your work could interfere with your parenting responsibilities and vice versa. That’s why it’s best that you set a family and work time first. Then follow it strictly for a happier life and more mental balance.
3. Make your weekends more flexible
Every business owner is guilty of working on their venture during weekends. While this may be understandable because business is as important as family, you shouldn’t let the former overlap the latter. Sure, you can work during Saturdays and Sundays but give yourself and your family more time.
4. Give your partner a special night
Both you and your partner share the responsibility of caring for your children. That’s why you should talk about each having different schedules of doing what you both want. For example, you can agree that your special day is Saturday while your partner has Sunday.
On Sunday you get to care for your child alone while your partner does it on Saturday. For me, I prefer to let my parents care for our child for one day so that I and my spouse can have our special day together.
5. Keep it slow and steady
Don’t rush everything just because you don’t have enough time for both your child and business. Focus on sticking to your plan and schedule. Remember, slow and steady wins the race.
6. Find a business partner
Just like hiring a nanny to help with childcare, finding a business partner is also important for venture management. You can’t do everything yourself. Even those who proclaim themselves as a “Supermom” or “Superdad” ask for help. You can find another relative, friend, or colleague. What’s important is, you both trust each other and share the same values.
7. Delegate work
As your child and business grow, so will your responsibilities. You can’t let your spouse and business partner handle them. That would be unfair. This is the part where you need to hire an additional hand to work on things you don’t have time for.
8. Do your market research
Before starting a business, you must study the market first if your venture is feasible. Don’t waste time and money if you’re unsure of success or if the tide is working against your favor. Spend that precious time and money on your child. Wait for the right moment or make the opportunity yourself through careful planning.
9. Plan your finances and funding
This question is very important: “Where will you get money to fund your venture?” Will you ask for some from your spouse? That would affect the budget for your necessities. Are you going to take from your savings? You might need that for emergencies. I do suggest getting crowdfunded. It’s also important to determine how much you’ll spend as a startup.
10. Organize your workspace
If family time and working hours should be separated, so should your office and your kids’ bedroom. Mixing them together will only make your experience more stressful because both will compete for your attention. As much as possible, set a designated workspace in the attic, garage, garden shed, or basement. Anywhere will do as long as you won’t get distracted.
11. Find ways to involve your child
When your child grows older, let them help you with office work. Simple tasks such as stamping, stapling, or arranging documents will be a huge help for you. The best part of it? You get to teach them the importance of responsibility, hard work, and the value of well-earned money.
I’ve met a lot of business owners who are also parents. They all say that “A business is like your second child. In order to make it grow, you need time, money, delicate planning, and a lot of sleepless nights.” I couldn’t help but laugh at the thought because it’s so true. Like your true child, raising your business is also a fun experience. Seeing it succeed in the future will truly make you proud of yourself.
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