While the COVID-19 pandemic has disproportionately impacted women across all age ranges, many have risen to the increased economic challenges and decided to pursue their dreams. For lots of folks, nothing gets you going after your dreams with renewed vigor than being laid off because of a global pandemic – which really serves to show us all how short and valuable life is.
If you’re looking to make money or start a new business for the first time, good news: there may be no better time to do so than right now! These tips can provide the guidance you need to get your business going.
Side Income Opportunities for Stay-at-Home Moms
Want to make some more money while taking care of your family? There are lots of ways to do so using the Internet these days, including:
- Blogging and using affiliate marketing to make money
- Running a YouTube channel or personal blog and collecting ad income
- Dropshipping products for manufacturers to their customers
- Teaching online courses
- Selling arts and crafts or handmade goods like soap, candles, or jewelry
All of these side-income opportunities are great ways to stretch your entrepreneurial wings. One of them may even bloom into a full-on self-run business as you collect customers and build a stellar online reputation!
Building Fresh Businesses
Maybe you want to enter the entrepreneurial industry more directly by starting your own business. In that case, you’ll need a great business idea.
Ideally, your business idea will be:
- Something you can start by yourself at first
- Something that’s scalable so it can grow as you become more successful
- Something that will be profitable
Take some time thinking about your business idea, then write up a business plan. The business plan will help you determine what you should do step-by-step and will be necessary if you need to acquire financing from an investor.
Choosing a Business Structure that Works for You
When you file your business, you’ll also need to choose a business structure (in addition to a unique name). The business structure affects what tax benefits you may or may not see and whether you’ll be able to have employees working under you.
Many female entrepreneurs have started new LLCs in the wake of the pandemic. You can do this as well and benefit from tax breaks, business flexibility, and more. Each state has its own requirements for forming and LLC, so you can simplify the process by working with a formation service.
Marketing Matters – Especially for Work-from-Home Women
As you build up your business from scratch, you’ll also need to launch a quality marketing campaign. Fortunately, marking online is easier and more accessible than ever. You can use various online marketing tools to:
- Determine who your target audience is in terms of demographics, age, and spending habits
- Market directly to them through Google ads, PPC or pay per click ads, and social media ads
- Market to them even more and build a long-lasting customer relationship through email marketing
Ultimately, you should spend tons of time on marketing to maximize the possibility of your new entrepreneurial venture.
Finish That Degree (Optional)
You might also want to go back to school and finish your degree with an online program, especially if you wish to acquire the business skills and acumen necessary to succeed in the entrepreneurial sphere.
However, you can also go back to school and complete a degree to:
- Become more respected in your field
- Change careers to something you like better than your current job – who knows? Maybe getting laid off was the best thing to happen to you!
Just be sure to choose an online degree program that comes from an accredited school and that’s affordable for your budget range.
The Time is Now to Follow Your Dreams
If COVID-19 taught us anything, it’s this: there’s no time like the present to pursue our dreams. You may have been disappointed when you lost your job, but you can rise above this and become exactly what you want to be professionally and personally during this unique opportunity. Build a business, make some side income, or finish your education – it’s all up to you and the sky’s the limit!