10 reasons to start your own business

10 reasons to start a business

Many women are looking to start their own business for a variety of reasons. Some are at home already and would like to contribute to the household budget, some may be working outside of the home and would really like to be AT home. And some may even be single moms who are searching for HOW they can be home with their kids and still support their family.

I am not going to address ALL these areas in this post, but we will go over some of these scenarios over the next few weeks. In this post we are going to talk about why starting a business is a good idea.

10 reasons why might want to start your own business*

1. Money This is usually the number 1 reason women want to start a business. And while money can be made, it is important to be realistic, especially in the beginning. It can take time to see any return on your investment, much less a profit.

2. Self –esteem is another reason women want to begin a business. They may not call it that, but they want to do something with their skills, something other than taking care of children (nothing wrong with it!) Sometimes we just need an outlet. And one that makes money can be very rewarding.

3. Being there for your family. If you are currently an employed mom who must be away from her family all day, choosing to start a business can allow you to be with your kids more hours of the day. If you work an 8 hour day, plus an hour for lunch and then an hour commute each way, you could easily be gone from 7 am to 6 pm. (there is a downside, you may get no time away from your family!)

4. You get to choose your schedule and work with flexibility– This has its benefits for sure. Being able to schedule around activities and practices and school is nice. However, it can also mean that you are working late into the evening. Just know that you have to be prepared for this!

Hybrid homemaker

5. Saving on expenses– If you are currently employed outside the home and decide to start a business, you may lose your income, but you will instantly decrease your expenses. No more commute, daycare, nicer clothes, convenience or fast food meals because of your long hours. Keep this in mind when calculating if you can afford to leave work.

6. Many businesses can be started on a shoestring– most of us already own a computer, a cell phone, and have internet service at our home. Websites are easy to set up and a basic site can be free to start with. If you are starting a service business, you can print business cards and go. If you have a product based business, it can be a little more costly and take a little more time, but you still don’t have the overhead of a brick and mortar business.

7. No worries about layoffs when you are employed, you have 1 boss and if they don’t need you anymore, you are out of work. If you are self-employed, you have multiple clients, or bosses if you will. If one doesn’t need you anymore, you have others to take up the slack at any given time.

8. Tax benefits– you will need to consult a tax professional, but in most cases you will have plenty of tax deductions for your business. This may even result in a loss the first year or two, lowering your overall tax liability. Remember, mileage is a big deduction and if you drive for your business at all, keep up with your mileage!

9. Do something you love– Maybe you hated your job. Maybe you are an accountant by trade, but would really love to be doing pottery instead. Life is too short to do something you hate. Use your business to bring you closer to that which you love to do. Starting your own business gives you an opportunity to follow your passion.

10. You need something more challenging– whether that is more challenging than changing diapers or more challenging than answering phones all day long at an office, you want to do something to grow, to stretch yourself further than you’ve ever been before.

*I understand that different people have different opinions of working outside the home, inside the home, stay at home. This is not meant to challenge those opinions!

Have you seen my ebook for work-at-home moms?

The Successful Woman’s Guide to Working from Home is not a book about “how to”work from home. It is not a list of ideas for businesses. It is a guide book on working smarter and being able to do the things you need to do while working  from home.

Click for more details!

This post is linked up with Amanda’s Top Ten Tuesday!


12 comments to 10 reasons to start your own business

  • I’m interested in freelance writing, but have never tried it before. Mostly I have trouble with generating ideas, and don’t know what to write about. I feel like that’s because I don’t know how to do a lot of things, so that leaves me feeling like I don’t have anything to write worth formatting into an article. I’m not giving up on it, I just wish I knew a way to get more ideas that someone would actually be interested in seeing as an article.

  • I don’t have kids yet, but I would really love to be in the situation where I can work from home, and raise our kids as a full time mom too.

    I have never really liked the idea of multi-level marketing businesses because they just don’t fit with my personality. That’s why I started my blog KickAssWife. I am hoping that 2 or 3 years from now, it will be on its way to making a modest income about the time that I have kids.

    It is a long term plan for sure, but I think it is worth it!

  • Started my own business when my first baby was born…. Six years later, best decision I ever made! I work a lot of odd hours, but I’m always here for my family & that’s important. Working my own schedule is nice, not sure I’ll ever go back to having someone else for a boss!

  • I took the plunge 2 years ago to start my handcrafted jewelry business.

    I agree with all of your points – it has also brought me opportunities which I could never have imagined (just back from a trip promoting my jewelry in US!) and my kids are SO proud of me and my achievements.

  • Nia/Chic Working Moms

    I just got laid off from a 5 year position but luckily I had been working toward starting my own business with my blog. Now I’m going full throttle into freelance writing. I majored in journalism years ago and it’s really my first love so I’m working on captilizing it in a major way. Great post!

  • […] of Article: http://successfulwomansguides.com/2011/10/10-reasons-to-start-your-own-business/ This entry was posted in Business Startup, Moms, Work from Home and tagged business moms, […]

  • While I agree with some of your points, starting your own business may not end child care costs or the fear of layoffs. How are you going to work if you have to care for your children? What if you open a business that is now home based?

    I too want to start my own business and think more women need the encouragement! Thanks for great suggestions!

  • great article! I know all too well about #6 and #7. I wasn’t laid off, but received a pretty significant paycut and I was the top producer. I then decided to take my part time business full time and haven’t looked back since. I recommend for anyone that is self motivated and driven, but has a family at home. Again great topic!

    Mario

  • Kim

    I am trying to get my blog off the ground in this digital world but have no idea of what I am doing. I need to figure it out soon because it is a part of my plan to move to Costa Rica as a single mom with my 2 daughters by November.

  • Donna

    How do you find a good home based biz that makes some money? I have looked into several and they seem to be scams.
    I need to find something soon. I had a failed foot surgery and can’t walk/stand well so I had to leave my job. I made over $30k yr and it hurts. My husband is getting burned out working 6-7 days a week to pick up the slack.
    I have tried making and selling cards and a home based product, I sell a few things but not enough to pay bills. Any ideas?
    How do blogs make you money?

  • […] Berenice (last name not available). 10 Reasons to Start Your Own Business. The Stressed Mom (blog). October 10, 2010. http://thestressedmom.com/2011/10/10-reasons-to-start-your-own-business/ […]

  • […] Berenice (last name not available). 10 Reasons to Start Your Own Business. The Stressed Mom (blog). October 10, 2010. http://thestressedmom.com/2011/10/10-reasons-to-start-your-own-business/ […]