Start your own business as a single parent

Start your own business as a single parent | Beanstalk Mums

Starting a business as a single parent is a bit like learning to juggle with your hands tied behind your back. Time and energy are already in short supply. That means planning everything down to the final detail is going to help squeeze every second of productivity out of your day.  

Business finances are one thing that you need to plan sooner rather than later. Multi-tasking parents may feel that they can meet all issues head-on, but finances are finite and cannot be “problem-solved”. The numbers have to be in the bank. You might want to check out this Qantas business loan selector for information.  

Now we’re going to look at how entrepreneurs like you can get ahead in business, even as a single parent.

Choose a Business That Means Something to You

Being a single parent brings a heightened level of responsibility. Your thoughts will turn to the family at every opportunity. That’s why the business choice must mean something to you. Your commitment to a money-making scheme will not be as strong as your dedication to a business you love. Choose a plan A and stick to it, instead of switching to plan B, C, and maybe D before inevitably giving up.

Understand that Business Takes Time

Nobody knows how long it took to build Rome, but it famously took longer than one day. You cannot expect your business to succeed overnight – this is especially true when you can only spare evenings and weekends. Learning new skills requires concentration and personal growth. Starting a business as a single parent isn’t impossible, but you will need time to put things together. Your company might not turn heads right away, but don’t feel too deflated.

Accept the Limitations on Your Time

Starting a business as a single parent is no mean feat. Passionate business owners will want to spend more and more time on their project. But remember, your focus should not shift away from your family entirely. You will have to accept limitations on your time. You may begin to feel like you are taking a stop-start approach to your business. Don’t worry. You’re not the only single parent entrepreneur who feels that way. Persevere with your project. It may take twice as long, but the payoff will be worth it.  

Build a Private Support Network of Entrepreneurs

Single parents need a helping hand wherever they can get it. Starting a business isn’t easy, especially when you have family demands on your time and your finances. That’s why it’s in your interest to connect and network with other entrepreneurs who can share their experience and boost your business acumen.

Discover like-minded friends who can help and support you, and find local mentors who can guide your journey into the business world. Remember, asking for help is not a weakness. The benefits of networking are endless. Find opportunities to meet entrepreneurs in your area online – check out business support in the Victoria area, for example. 

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