Practical Pointers for Stay-at-Home Parents Interested in Earning Extra Money
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Written by: Victoria Cooper
As a stay-at-home parent, your kids are likely your priority and, consequently, your career may have fallen by the wayside. But being a stay-at-home mum or dad doesn’t necessarily have to sound the death knell for your career. If you like, you can still pursue one in your spare time when you aren’t actively taking care of the kids. Or, if you don’t want a full-fledged career, you could make some extra money with a profitable micro-business. The internet gives you many options, and you wouldn’t even have to leave home to do so.
Here are some powerful tips on how stay-at-home parents could make extra money in two distinct ways:
Launch a from-home business
Why not be a successful entrepreneur? It doesn’t always require a lot of time, money, or energy.
1. Think of what you can do
Consider your skills and interests – are you particularly knowledgeable in a particular area? Could you offer a product or service that’s in demand? You could have your own business, if yes. You may want to look at something that’s relatively flexible and allows time for your kids – like catering, pet daycare, and e-commerce.
2. Create a business plan
Your business plan is a document that will help you structure and set up your business. It will describe your company, detail how you’re planning to sell your services (or products), describe your business structure, highlight your funding sources, and include financial projections.
3. Set up shop
Set up your business entity. This will involve registering your business locally, acquiring licenses and permits, getting insurance, hiring employees, and maybe setting up a home office space. You may also need to find suppliers or vendors and put up a website.
4. Market your business
Marketing your business is critical to success. You have to research your ideal audience and craft a marketing message that appeals to them. Also, it’s a good idea to brand your business. It makes you more identifiable, professional, and trustworthy.
A logo is a critical part of your brand identity. It makes a strong first impression, separates you from the competition, and raises brand awareness. Company logo design tools allow you to create appealing and creative logos – you don’t need to hire an expensive logo design service unless you want to. It’s as simple as choosing a style and icon, adding in text, choosing from an assortment of logos, and customizing their fonts and colors.
Become a freelancer or find a remote job
Being a freelancer or full-time remote worker is also an option worth pursuing. It may be ultimately less rewarding materially than having your own business but it comes with fewer responsibilities and more stability. Some suggestions:
1. Identify marketable skills
Do you have skills that are in demand – like accounting, mathematics, negotiation, salesmanship, writing, legal know-how, art, or whatever else you’re good at? If you feel your skills need some more polish, you can always self-study or pursue a suitable course.
2. Set up a profile, network, and market yourself
Networking and marketing yourself are essential steps in your journey, whether you’re finding a new job or advertising your freelancing services. Some ways to do so are creating a portfolio, setting up a website, participating in professional groups in your niche, joining social media, and asking family and friends for referrals. Oberlo offers a list of sites featuring remote work opportunities.
3. Build up your reputation
This is more applicable for freelancer stay-at-home parents – focus on building your reputation. If you’d like to be especially successful, you’ll need to be seen as professional, trustworthy, and competent. It’s how you will attract the biggest, most highest-paying projects.
4. Keep gaining skills
The face of work is constantly changing, reports World Economic Forum. “Upskilling” and gaining new skills is how you ensure you continue to have a job in the future. That means you should always set aside some time to learn new things.
The remote work model is being successfully utilized by many companies, reports Amsterdam Standard. Remote jobs, freelancing, and even business opportunities will likely only continue to grow in the future. That means you have a great opportunity on your hands – don’t hesitate to seize it.