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The Do’s and Don’ts of a Single Mom Entrepreneur

By on November 13, 2013

We are constantly reading articles about following our dream.  We all have different dreams.  We are all unique. That’s why we have different dreams.  What works for you may not work for your best friend.  The important thing is to pave your own path.

Some of us venture out into starting our own business.  Yes!!! We will be our own boss, have our own hours and operate the business our way. The list goes on.

Or so we think.  There are many factors to consider in running your own business.   Many websites offer advice and your friends and family will offer their opinions.  Following is a list of Do’s and Don’ts that has helped me with my business. 

The first recommendation for anyone wanting to start their own business, is to gain work experience in the industry you are passionate about.  This will help you understand the business in its entirety and you will know if this is the business you want to start.  

Do – this list is for your well-being when starting your own business

  1. Start a business about something you are passionate about.
  2. Talk with friends and family that support you and share your idea with them.
  3. Make friends in your industry.
  4. Involve your kids in the process.  Talk to them about your idea.  You would be surprised how many times my children gave me ideas I didn’t think of.
  5. If you are working from home, remember to take breaks from your office space.  Go for a walk or stretch, something that will get you away from your computer for small breaks.
  6. Eat well during the day.
  7. Make a schedule for your day, week and month.  It will help you keep the focus.
  8. Get a mentor in your industry.  Ask if they can commit to seeing you once a month for an hour each time.  This will give you motivation to move forward and you will be getting advice from someone you know and trust.
  9. Know when to turn off your computer at the end of the day.

     10. Expect that you will have good days and bad days when you are in business for yourself.

     11. Listen to your own intuition. 

     12. Expect that your business will take a solid 5 years to get recognition and success

     13. Network, network, network

Do – this list is the foundation of starting a business:

  1. Research the idea you have for a business and know what is out there as far as competition.
  2. Research the company name you have for your business.
  3. Write a business plan.
  4. Go to Service Canada to see what programs are available for starting your own business. 
  5. Look at courses offered at your local adult high school, college or university about starting your own business.
  6. Invest your money in: Insurance, Trademark, Business lawyer, Accountant, Incorporation (if you are a sole proprietor), Canada Revenue Agency HST number – this does not cost money, it just takes a simple phone call.
  7. If your business will require a store or office location, go to your city, inquire about the location you are looking at and whether there is any schedule for construction slated for the next couple of years. 
  8. Join associations that are related to your industry.

Don’t:

  1. Hire friends for your business.  If you do, ensure that you have a clear written contract about the expectations for each of you and for the project.
  2. Expect the money will come overnight.  Hard work and perseverance are key factors when you own your own business. 
  3. Listen to all the NOs you will hear.  Listen to what others have to say, thank them for their advice and walk away learning from the experience.  Apply what you want.
  4. Ignore your kids, family and friends. 
  5. Believe everything everyone tells you.  
  6. Miss out on a networking event – you never know whom you will meet and how you can help each other.
  7. Carry debt. 
  8. Have clutter on your desk. 
  9. Try to do it all yourself.  You will not succeed.  Hire a bookkeeper, accountant, etc. for your business. 
  10.  Fear failure.  It helps us grow and become stronger.

 

Yes, it is hard work.  You will work at your business a lot;  get used to it.  At the end of the day, I work for fulfilment.   You may learn to have less in your life and  to enjoy the simplicity more.    With every negative situation that happens to you, say “Thank-you”.  You will learn from it.  You will grow from it.  It will make you stronger to move forward with your goal because at the end of the day, you only have one person to please and that is yourself.

 

Dora Dalietos is an Event Planner and Owner of Vis-à-Vis Events Inc.  You may contact Dora at (613)-292-7502 or at dora@visavisevents.ca.  On the web:  www.visavisevents.ca

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