The Mumpreneur guide for 2018
The year is already hopping along and we all need some help on what to focus on and how.
Digital media marketing
DIGITAL media cannot be ignored as a critical part of most business. As a mumpreneur you need to get a handle of digital media whether you are a newbie and new to the whole digital media marketing stage or whether you are somewhat comfortable with it already. The verdict is that there is a need for more of it this year. Your business needs a marketing strategy and it needs to include digital.
The world’s number of mobile phone users is on the increase and depending on your audience or target market most people have at least one social media account. In Nigeria the mobile penetration is very high and we are a mobile-first Country, which means most of our Internet users do so through their mobile devices. There are several options and deciding which social media platform you need to be on needs some thought. The right social media platform would differ based on your target audience and type of business.
“If your business is not online, then you are not in business”- I heard this quote somewhere some years ago and it has resonated with me. You know your business best, so ask yourself what digital platforms would you utilise? Your content marketing should include what you will be sharing and how you will convert customers.
A lack of structure makes it very difficult for a business to grow and scale. You need to put a structure in place that will govern how the business will run. Whether your business is a one-man shop or not, structures are important. You need a plan on who reports to who, have a financial system in place, determine what accounting system you use and ensure you are tax compliant. Being small is no excuse.
There are several companies that work with SME’s to offer business services such as tax consultancy, legal services and HR services for an affordable fee. Another discipline to inculcate is your accounting and cash-flow because as a mumpreneur it can be easy to co-mingle personal and business affairs. You must separate your personal from your business account. Pay yourself a salary however small and keep proper records, get a consultant for taxes etc, don’t wait till you need to expand. “Outsource what you can so you can focus on what you cant – your creativity”.
It is advisable to do this now so when you need to get funding or an investor the financial health of your Company is in good shape. Outsource what you can; reduce your overheads and other non-business tasks that take your focus away from growing your business.
If you are a mumpreneur that means you have a child, which means you are balancing several roles on a daily basis. The reality of running your own business and catering for your family can be tough, yes, but it can be done. One of the first steps to managing this is to have closing hours and have core hours. This means you have to discipline yourself not to work round the clock – going non-stop can easily happen because work never truly ends.
You could identify a space where you can work outside of the home for a couple of hours such as a cafe or virtual office. Be intentional about managing your time and do not let work interfere with your family time. There will always be work but there won’t always be time to build the values in the family.
Have priorities. Know what balance looks like for you, be honest and assess your realities, consider your options and work it out. Be bold and ask for help from your support system or for half-day Fridays from your boss.
This year make it a goal to network, meet people and collaborate with other business owners. Make it a priority to network and meet other people who can either be customers or refer you to potential customers. If no one knows what you do how will your business grow? Bust the myth that women are not good at networking because networking leads to collaborations and partnerships. Women help women and those who don’t weren’t meant for you – move on don’t shut down. Have your business cards ready to share and do not forget the power of social media.
The one thing we know for sure is that the world is changing. New technologies are introduced on a daily basis and the best way to stay updated is to continue to learn. You could sign up for online courses, attend seminars, trainings and find thought industry leaders in your sector; subscribe to newsletters for updates in your sector. Some of the resources I recommend for training are Learn Digital With Google, Coursera, Udemy, Alison, Shaw Academy among many others.
Have a fantastic year ahead mumpreneurs!
Yetty Williams, Founder LagosMums (Parenting Coach, Digital Media Marketing Strategist). Connect: Instagram/Twitter: @LagosMums | LagosMums.com | Facebook.com/LagosMums | Email: firstname.lastname@example.org
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