Posts Tagged ‘small business’

How I Started my WAHM Business

Thursday, May 14th, 2015

How I started my WAHM businessWhen I was 10 weeks postpartum with my youngest, I attempted to go back to my corporate 9-5 job as an advertising assistant for a media company. I knew before going back that it would be an emotional struggle; I now had two boys under the age of 3. But what I was surprised to realize was that, after paying for childcare, food, gas, and clothing, I couldn’t really afford it. So I tried to figure out a solution where I could stay at home and still make up the difference in my salary.

It was a nerve-wracking time for me; I had held a steady job since I was fifteen. I had been at my current company for 8 years. I had a 401k. Leaving the perceived security of a job, even one I didn’t even really enjoy, still seemed insurmountable. But now that I’m a small-business owner and WAHM who teaches health and wellness training, I realize what a reward it was to take that risk. If you are thinking about making a switch from corporate employee to self-starting momma, keep these things in mind:

Have a Plan

In order to convince my husband that we could make it work with me staying home, I had to come up with a budget that showed exactly what we would be spending with me going back to work vs. me staying at home and doing “something else”. When creating a hypothetical financial plan, you want to be sure to include anything that might change; your 401k contributions, your health care costs, an increase in heating or cooling (you’ll be home more now). Make sure you include every last detail that may change and make good estimates. Once you have figured out what you would take home if you went back to work, you can analyze that with what it will cost you to stay home. This way you can figure out how much money you need to generate each month to stay at home at the same level of financial comfort. Anything extra you make will then be added back in or considered an extra bonus.

Do Something You Love

It sounds so cliché, but you have to tap into what you are great at and what you love to do. I asked myself, what type of job would I do for free? What do I love to do that could also be considered a service? My answer was personal training; however, there are hundreds of ways to turn your hobby into a career. I have a sister-in-law who is an amazing baker. With the impending arrival of her first baby, she started marketing her hobby on Facebook in order to sell her goodies and bring in extra cash flow. The success of her “hobby” has allowed her to take extended time off of her corporate job to be with baby. When your hobby or craft is something you love, your passion becomes the vehicle driving your business.

Educate Yourself

If you know what you love to do, find as much information about what credentials you might need in order to take your hobby or skill to the next level. When I left my corporate job, I knew that ideally I would like to make health and fitness a priority in my life as well as something that could potentially generate a small income. To do so, I started researching what kind of personal training certifications I would need to make it happen. You should also research the tax implications as well as applying for a small-business license in your state.  For many people, no actual formal training is needed. My friend Stefanie was working as an administrator for a college when she started her family.  “I opened my Etsy shop, Juji Loo Prints, in October 2014. I had always loved doing invitations or art prints for my own home. But, as people found out it was a hobby of mine, they would ask me to do projects for them. I taught myself Microsoft and Adobe programs over the years and I’ve learned that if I can’t figure something out, there’s a YouTube video for everything!”

Leaving the corporate world to take on a new business endeavor can seem daunting, especially with a family.  But when you research and plan, success is completely possible.

Tessa Wesnitzer is a mom of two rowdy boys, a health and fitness instructor, and a lover of green tea and great books. She resides in sunny Sahuarita, Arizona.