Congratulations! You’re ready to take the leap and become a female entrepreneur! You’re feeling that combination of apprehension and anticipation that comes when you decide to take a chance and commit to a dream.
But what business should you start, and what do you need to consider before you plunge in?
Before you go any further on your female entrepreneur journey, you might want a good biz GPS to navigate the potential roadblocks. There’s a lot to do when starting a business, and even more if you’re also a mom with more than enough already on your overflowing plate.
This post can help you get from poised on the edge ready to jump to a safe and clean dive into the waters of female entrepreneurship and the work-from-home business you’ve been dreaming of.
Knowing how your goals, personality, and the realities of your life can affect your biz will give you powerful tools to shape the right approach for you.
Take your time as you go through the questions. Have a recording device, laptop, or pen and paper handy, so you can work through your answers. The more thought you put into this process, the better prepared you’ll be to become a successful female entrepreneur.
If you want more insight, you can also take our free Biz Quiz before or after answering the questions here. We've also included resources througout, to get you started on your adventure.
Ready? Good. Let’s go exploring!
What Are Your Goals as a Female Entrepreneur?
It’s a good idea to know what you want to get out of your home-based business before deciding what direction to go. After all, It’s hard to reach a target when you don’t really know what you’re aiming at. Jot down answers to the following five questions, then read on for ideas
- Are you looking for a little added income, or a sustainable living income?
- Are you interested in short-term or long-term business?
- Do you want part-time (side-hustle), full-time, or flexible work?
- Would you rather start right away, or take training to create a foundation for your business?
- Do you want to sell something or offer a service?
Want Just a Little Extra Income? Try a Side Business.
If you just want a little cash for a special purchase or occasional expenses, it might be best to choose work-at-home side-hustle options like these:
Another option is to try more traditional approaches, such as sitting for children, houses, or pets. You might also enjoy providing a service such as personal shopping, delivery, or rideshares for complete freelance flexibility – you decide how much and when you will work.
Dreaming of a Low-Investment Startup with Sustainable Income? Here Are Some Ideas:
Many female entrepreneurs get their start with low-investment options that still offer opportunities to grow and scale once they’re in business. If this sounds perfect for you, you might love work-at-home careers like these:
- Virtual assisting
- Online business management
- Freelance writing
- Social media marketing
These careers require some training to do well, but you might be able to take on clients or publish your first posts while still learning. Better yet, these careers are scalable, letting you work as much or as little as you wish and adapting well to your current life. That makes them great for work-from-home moms, students, or other female entrepreneurs without a lot of time to spare.
Ready for the Female Entrepreneur Big Leagues? Ever Thought of These Careers?
Have you been wondering what businesses are in demand? Are you looking for an at-home career which can provide college-degree level income? Did you know you can have it for a fraction of the cost? Here’s a trio of profitable at-home careers:
You can earn $50,000 or more a year with these careers, but you will need specialized training that takes longer to complete. Also, the startup costs are typically higher. You may need to pay for certification, ongoing training, additional resources, software, equipment, and/or subscriptions before you’re ready to begin earning from these careers. However, they usually pay back the relatively hefty initial investment within a few months of steady work.
What’s Your Female Entrepreneur Personality?
We are who we are. Are you asking, “How do I know what home-based business to start?” No one else can really answer that for you, because personality is an important factor. You want a business that doesn’t just work on paper. It needs to work for you, as an individual. Take a few minutes to jot down your answers to these questions, then read on for ideas that match your female entrepreneur characteristics.
- Are you an introvert, extrovert, or a little of both?
- Do you prefer working with money, systems, creative outlets – or something else?
- Are you self-motivated, do you like to follow directions to a ‘T’ – or are you somewhere in the middle?
- Do you relish deadlines or would you rather take your time?
- How organized are you?
- Are you amazing with words, numbers, or tech?
- Do you like to teach or give advice?
- What do you love? Not love?
How do I choose a home-based business if I’m super-organized and love systems?
Along with scoping, online tax preparation, and virtual bookkeeping, which we mentioned above, there are other work-at-home options for female entrepreneurs who thrive on systems and organization. Here are a few more to consider:
- Online business management (OBM)
- Project management virtual assistant
- Real estate virtual assistant
- Podcast production
Each of these options gives you the chance to use those organizational superpowers to create an anywhere and anytime career that feeds your love of systems. And if you join the #fullybookedVA program, you will have lifetime access to project and email management, real estate VA training, and much more for one price. Freelance University’s learning hub offers OBM and over 80 other courses with monthly or annual tuition.
What businesses are in demand for self-motivated moms who love language?
If words are your jam, you’re in luck! Nearly every business needs content of some kind, and there are other opportunities you can do on your own, too. There is also a demand in the legal world, even if scoping isn’t your thing. Have you considered these?
Each of these options has low-investment for startup, and they are flexible enough to be great jobs for language-loving moms who want to be female entrepreneurs, too.
If you can manage a moderate startup investment, you might find transcription to be the perfect work-from-home business for you:
How do I know what home-based business to start if I love designing, social media, or Pinning like crazy?
Some female entrepreneurs are born creatives. You could sell products on Etsy or another crafting site, in person, or at point-of-sale consignment. There are also businesses that let you do all of your creating online.
These options offer you a reliable income once you get some steady clients willing to pay for your imagination and knowledge. Check out these at-home careers for the artistic female entrepreneur:
Best advice? No matter how lucrative or trendy a potential career is, be sure it’s something that aligns with who you are and what you love. If you can’t see yourself being happy to do this work, you aren’t likely to bring your best to it. Plus, you may burn out.
Choose something that fires you up and uses your unique talents. You’ll have a lot more fun in your work-from-home female entrepreneur life!
What’s Your Reality, and How Does Your Dream Biz Fit In?
I know, I know. It can be hard to stop and take a good look at reality when you’re dreaming of that perfect female entrepreneur life that seems right around the corner. But not considering the realities of where you are right now can lead to not being able to finish your training, purchase start-up supplies, or find a suitable space in which to work. Here are some questions to think about before you take the leap into any new business.
- Do you have the money you need to invest in training or business supplies?
- Can you devote as much time as you’ll need to getting your business up and running?
- Are you willing to spend the time and effort to get good training?
- Do you have enough savings to allow your business to grow at a reasonable pace?
- Is there anything in your circumstances that could keep you from starting the business you’re considering?
- When, where, and how will you do your business work?
- Are your circumstances likely to change dramatically in the next year or two?
No Investment, Low Investment, or High Investment?
Assess your finances carefully and honestly. Do you have leeway in your budget to purchase any courses you’ll need to build a solid foundation for your business? Can you afford to give yourself the time you’ll need for that training, and to grow your business to the point where it can sustain you (if that’s your goal)? Will you be able to manage any additional startup costs to make your online business dreams a reality?
If not, you’ll need to come up with a different plan. Perhaps a part-time job or side-hustle will be the answer, or perhaps your new dream biz will need to start out as a hobby or side-hustle itself, while you bankroll your life with a “day job.”
Another option we mentioned above is Freelance University, a learning hub which also offers a 60-Day Fast Track program to get your new freelance biz up and running quickly.
Finding Time and Space for Your Female Entrepreneur Life
Your current circumstances might make some businesses a poor fit. For example, if you don’t have a soundproofed space, doing voiceover work will be difficult. For moms with small children who don’t have someone to occupy them quietly, it may be impossible unless you can make changes to your situation.
If your time is already stretched to the breaking point, something may have to shift before you can devote the time and nurturing your new work-from-home biz will need. Moms sometimes begin their biz as a side-hustle for a few hours a week, and scale up as their kids get older. You could also check out our time-saving tips to find ideas that may work for you.
If you’re about to make a major move, have a baby, or anticipate some other life change, it’s a good idea to assess whether the new circumstances will let you also take on a new business. Although it can be hard to set aside your dreams of the perfect work-from-home business, it might be better to wait until things settle.
The goal here isn’t to give up, but instead to take a realistic look at what your life is like and how you can fit your new biz idea into it. Spend some time thinking things through before you jump in. You may find solutions that wouldn’t occur to you if you waited until you and your biz were in big trouble.
So consider the realities you’re living with, and whether you can reshape them to make room for your new biz – before you start.
Becoming a Female Entrepreneur: The Conclusion
Are you feeling clear about your goals as a female entrepreneur? Do you have a better idea how to get there from where you are?
Have you gone through all the questions? Did you take time to consider the realities that will shape your life as a female entrepreneur? Your financial and other resources? How your personality, skills, and learning style might affect your choices? The time and energy you have available for your new biz, and the goals you want to achieve with it?
Have you explored any of the resource links offered in this post? Checked out our free Biz Quiz for more insight?
If you answered “no” to any of these questions, I invite you to go back through the post and fill in any blanks, as well as checking out some of the other female entrepreneur resources listed here.
Time spent on a long look at your circumstances before you leap is a lot less risky than just diving in and hoping for the best. You might save your business – and your sense of excitement and well-being, too.
Now that you’ve got solid answers and the resources you need for the next steps, you’re much better prepared to take that leap of faith.
What business will you be starting? Drop a comment below and let us know. Let’s celebrate your new female entrepreneur journey together!