Mom's Finances for Her Business Opportunity

A married woman with children has so many different responsibilities while starting a new career at home. Her primary role is to take care of the needs of her children and husband. Management of time and financances is key to the long term goal of building a business. Our children and spouses need us to be there, physically and emotionally. Our time that we have with them can never be bought again. A new career as an Internet Marketer is great because we can work it around our family responsibilities. However the money is may not be there right away. Money is only gained after successfully establishing the business.
Time management is very important. “How many hours, do you have to work your business?” This year I only have twelve solid hours of when I can work my business. My younger daughter is still in preschool. At home she needs me to help her with kindergarten readiness skills. This is the advantage of having your own business. As your own boss you can set your own priorities.
Make the most of your time. Strategically plan goals that will produce an income as well as manage expenses. Each day I dedicate it to a specific part of my business. Mondays is the day to pay bills and set goals; Tuesdays is the day to update my website; Wednesday is the day to post ads. This no part of your business is forgotten. If I forget to take time to pay my business credit card bills I may be charged an interest fee. It is also a good idea to schedule breaks to take care of family needs like buying presents or calling the pediatrician.
The disadvantage is that money may not be there right away. The integrity of your business will increase over time. Create a solid business plan so you can maintain your business long term. There are many deceptive advertising companies that make false promises. Profits may be gained but not so immediately.
My credit card debt is higher than I would like. I thought a website would give me great exposure to customers and bring in an immediate cash flow. There is no short cut to success. This is why it is very important to handle finances well.
“How much will the business cost to maintain it?” There are some business opportunities that are free and some have monthly membership fees. Even if your business opportunity is free you may be encouraged to invest in paid advertisement; take time to research how successful internet marketers make their money. In any case you will want to set a budget of how much you are willing to spend each month out of your budget. It takes time and effort to make your business profitable. Here is a list of things that you must plan to make it successful.
Plan a business expense budget and share it with your husband. This will keep peace in the home and allow you to smoothly run your business. Here are some good suggestions from things that I have done.
• Find a credit card with a 0% interest for 12 months. This will allow you time to pay off the credit card debt. If you enjoy doing what you are good at money will follow.
• Get a side job to pay for business expenses; I deliver newspapers once a week on Sunday mornings.
• Set up a separate checking account for business. This way I don't feel like I am taking money from my children and husband.
• I use grocery rebates from ibotta.com and Checkout 51 to sneak money into my business checking account.
An idea and a passion to have your own business may spark an interest in one day. However the process of building your business takes months or even years.