Thinking about starting an online business while you are working from home? I highly recommend it! And if you are like I was, you are probably trying to figure out what you really need to know to be a successful new Mompreneur.
I’m sharing with you the important online business myths for new mom entrepreneurs to avoid. I want to help you dodge the common stumbling blocks I see new online business owners make.
It’s exciting and nerve wracking starting a business online.
I remember trying to take in all the information.
Trying to get everything just right.
I felt a little unsure some days.
You don’t know what you don’t know, right?
And you don’t know which voices to trust.
Online Business Success Tips for New Mompreneurs
The most important thing to remember about your online business is that you are the boss.
Working mom you are about to promote yourself to CEO!
And it is awesome.
All the return on your time and investment is yours!
Don’t get me wrong, you will probably have some frustrating days at the beginning.
There will be days when you compare your business to others who look like they are having more success.
On those days remind yourself that they started where you are now.
Trust yourself and take it one step at a time.
Everyone starts at day one and dollar zero.
Online businesses are a great way to make extra money for your family. But there are also some truths that I don’t want you to have to learn the hard way!
Check out the top myths about online businesses and get closer to achieving your goals!
Myth 1: The people closest to you will be your biggest fans
This one is probably one of the hardest things about starting an online business as a Mom.
I bet you are expecting your family and friends to be your loudest cheerleaders right?
You are expecting the people who love you will be the ones to lift you up on rough days.
Unfortunately, they are unlikely to be a big fan of you new businesses.
In fact, they will probably be the loudest voices objecting to your business plans.
Ouch, that sounds harsh doesn’t it? I’ve see this happen over and over again.
Let’s take a look from there perspective for a minute
Why don’t loved ones support Moms with new online business?
- Your family and friends want to protect you from disappointment. They don’t want to see you hurt if your business fails.
- Your loved ones don’t want to share your time with you new business. They don’t like competing with your online business for your time or attention.
- Most online businesses take place on computer or your phone. Its still very hard for many people to understand how you can generate legitimate income online.
Prepare yourself and your mindset for the experience now so it doesn’t catch you off guard.
Give your loved ones quarterly updates so they are knowledgeable about your progress and work product.
And remember that they love you and might be missing you.
Myth 2: You can make good money in just 10 hours a week
Every time I see someone claiming they can teach you how to make a big income in just 10 hours a week I want to scream.
Yes, its true that an established online businesses can generate money with just 10 hours a day of the owners time.
But creating and growing a new online businesses takes take time and effort.
Except for a few unicorn businesses you aren’t going to be able to set up a new business, walk away and make decent money.
10 hous a week isn’t going to result on $10,000 a month until you have put in a lot more hours up front.
The good news, is that your upfront effort combined with consistency, automation tools and outsourcing options can let you reduce your hands on time once your business is established.
When you are planning your business make sure to include a realistic timeline.
Starting a new online business is a marathon not a sprint.
Myth 3: You have to buy a $1000+ course to be successful online
This is another one that irks me.
Are courses a great way to gain knowledge faster then trying things out on your own? Yes.
Can a business Coach or Mastermind Group provide you with the tools and insight you need for business growth? Yes.
I’ve taken a number of courses for my online business. Many have taught me more then I could have ever learned on my own.
Some have been duds but I’ve learned from those experiences too.
And I’ve invested in coaching that has resulted in exciting business growth.
BUT high pressure high cost courses aren’t required to have a successful online business.
Choose courses and Coaches that right for the place you are in your business journey.
But what do you do when you are at the beginning and don’t really know what courses you need?
Start with a few lower cost courses, course bundles or virtual summits.
Get a feel for the material and the people doing the teaching.
After you know a little more, if an expensive course feels like the right choice for your business then go for it.
Myth 4: Online business don’t cost money
The good news is that online businesses are relatively inexpensive to operate and super inexpensive to start.
To grow an online business, you are going to need to invest some money.
From websites to marketing necessities you should be prepared to spend some money in your business.
Its also important to keep investing in in yourself and in your continued learning and training.
(But remember, if some tells you their program or course has everything you need to make money fast run away fast!)
I encourage you to make a reasonable realistic budget.
It’s important to be mindful of what you are spending your money on.
Use a single debt or credit card for our business so you can easily keep track of where you money is going.
And you should be prepared to lose a little money the first few months – the same as brick and mortar businesses.
Like I mentioned above, online businesses are a marathon not a sprint!
A great book about budgeting and money for online businesses is Profit First: Transform Your Business from a Cash-Eating Monster to a Money-Making Machine.
The Profit First Method focuses on keeping expenses realistic, still allowing for growth and making sure you get paid by your business.
Myth 5: You need to have everything perfect before you launch your online business
I fell for this myth. I tweaked and edited and procrastinated trying to get everything just right.
Please don’t wait on perfection to launch your online business.
Don’t stress about the small stuff like having a perfect website, ordering business cards or just right brand colors.
You will 100% not make money if your business never leaves draft mode!
One of the BEST parts about online businesses is that you can ALWAYS change something.
And once your online business is live you will be regularly tweaking and testing on purpose.
Your business is going to evolve with time, knowledge and to meet the needs of your clients, customers and readers.
By the end of the first year it will probably look a little different then you envisioned on day 1 – and that’s okay!
Let your new online business evolve – don’t use perfection as an excuse to not go live.
You don’t have to know everything on day one when you start your new online business.
Some things that seem like they should be easy will be fustraing. But things will get easier and take less time to do as you do them more often.
And don’t forget you are working for a great boss!
Keep these 5 important online business myths for Mompreneurs to avoid in the back of your mind so you don’t get caught off guard.
- Myth 1: The people closest to you will be your biggest fans
- Myth 2: You can make good money in just 10 hours a week
- Myth 3: You have to buy a $1000+ course to be successful online
- Myth 4: Online business don’t cost money
- Myth 5: You need to have everything perfect before you launch your online business
If you get caught by one of these, and you will, brush yourself off and get right back up.
Consistency is key to making money with a successful online business.
One more tip before you go: Never quit on a bad day.
I’ve learned a lot about growing an online business from some key books. Check out my favorite Books Every Girl Boss Should Read.