Updated: Feb 24, 2022
Starting a new business can be one of the most challenging but most rewarding paths that you can take professionally. Similarly, becoming a new parent is both demanding and truly life-altering. Thus, doing both at the same time may seem like an insurmountable undertaking. However, it is both possible and potentially the right choice for you with these tips courtesy of Cedarbrook Early Learning Center.
1. Start with a Thoughtful Business Plan
Creating a strong business plan is a good idea for any new business. Having a business plan can make communicating about your business easier. For example, you may want to get an investor or bring on a partner. It can also serve as a guide and control for your internal management.
These benefits are compounded for entrepreneurs with special additional pressures, such as being a new parent. Having a clear plan makes it easier to attract a partner or to hand over the reins temporarily to a trusted employee. You can maintain control of your business even when you need to see your child.
2. Get Help When You Need It
Sometimes as a business owner, you need to get some extra help. Hiring some freelancers may be a great option. According to Upwork, 36% of workers freelanced in 2020 (though not all full-time). This can be a great source of relatively inexpensive but talented labor on a part-time basis.
Similarly, you may want to consider getting some help with your new baby. Of course, the baby’s other parent or your family members (if available) can be a useful source of support. Additionally, you may consider hiring a babysitter to help while you are working on your business.
3. Plan, Refine and Automate Processes
Developing the right business processes can help your business run smoothly, even when your personal life is challenged by the demands of a new baby. Process mapping and improvement can help you to ensure smooth workflows. Additionally, you may want to explore process automation as a way to save time and effort when you work.
4. Make Sure All Your Back Office Matters Are in Order First
It is also important to consider your back-office matters. For example, you should ensure that your business entity is properly registered. Consider forming a limited liability company. LegalZoom notes that you can save money on taxes compared to a corporation while also managing your liability better than a sole proprietorship or partnership. Just make sure to check your state’s specific rules for forming one.
It’s also important to make sure you’re allowed to operate in your location. Local governments, HOAs, and landlords limit what sort of business can and cannot operate within their boundaries. If you discover you’re unable to run your business in your current location, look into places where you can, including apartments in Seattle. You certainly have your pick – there are currently almost 5,000 units available for rent.
Additionally, you will want to make sure you are prepared to pay taxes. Having an accountant will help you. This process is a good idea as there are many complexities and calculations you need to make.
5. Make Time and Space for Your Baby
Finally, make sure that you make room in your life for your family. This means both creating time and space to care for your child. If you work from home, consider setting up a space in or next to your office for the baby to sleep. Additionally, you can use technology, such as a baby monitor, to help you do it all.
With the above tips in mind, you will be ready to build a business while still being a great new parent. Learn more today and realize all your goals!
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Cedarbrook Early Learning Center provides the highest quality childcare and education to the children and families we serve. Reach out today for more info! (360) 379-2271