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Tips to Become a Successful Online Entrepreneur as a Parent

An online entrepreneur is a person who runs an internet-based business. Here are tips to become a successful online entrepreneur as a parent.

Most parents desire to become entrepreneurs to have more control over their finances and enjoy flexibility. Thankfully, technology makes it possible to run a lucrative business from the comfort of your home and spend quality time with your kids.

An online entrepreneur is a person who runs an internet-based business. Online entrepreneurship requires as much planning and risk-taking as other forms of entrepreneurship. The COVID-19 pandemic and the lockdown that came with it showed us just how essential online entrepreneurship is. Many businesses that didn’t have an online presence failed. Those that managed to survive were in a race against time to transition online and stay afloat. 

As a parent, whether full-time stay-at-home or working, one online business you can start is social media influencing. Social media influencers are a new form of entrepreneurs who recently emerged due to the changes in the technological environment. They promote products and services of brands because of their credibility in specific industries and access to large audiences. You can make a living just by recording yourself while living your everyday life or doing the things you love and sharing the content with an audience on platforms like Facebook, Instagram, or YouTube. 

Interestingly, you can make good money as a social media influencer. According to Scalefluence, an influencer marketing platform,  ”When someone asks the question ‘how much do top YouTubers make?’ they should think about full-time content creators who often create videos multiple times per week. These individuals (or businesses) have built an audience and a subscriber base by consistently posting high-quality content.”

There are many other businesses you can successfully run online. You can open an online store for e-commerce and drop shipping, create a digital product, develop and sell smartphone apps, buy and sell domain names (website addresses), or become a virtual assistant. You can even consider online consulting, creating a blog with a specific type of content, or online real estate investing. These tips will show you how to become a successful digital entrepreneur while parenting.

1. Ask Yourself the Right Questions

Many people start online businesses without actually defining their purpose. Without a clear aim, you may not have a very strong foundation to start your business, stay focused when it’s underway, or persevere during tough times. So, before you get your online business off the ground, ask yourself why the business is important to you. 

Maybe the thought of starting an online business was born from a great business idea you’ve always had or a passion you intend to turn into paid employment. You may even be unsatisfied with your current job, tired of working for other people, or looking for a way to have more control of your career. Whatever your reason, make sure you write it down at the beginning.  

2. Learn About the Industry

Once you’ve identified the problem your business will be solving and the niche you’ll operate in, take time to learn about the industry. You can conduct keyword research using tools like Google keyword planner or Ubersuggest to know if there’s an online demand for the product or service you want to sell. 

Also, analyze the competition and research the latest consumer trends in the industry. You can ask other entrepreneurs about their challenges and preferred business platforms. Consider taking courses that are relevant to the industry you are entering.    

3. Develop Your Business Plan and Start Off

Business plans are road maps that guide your path as an online entrepreneur. They help you organize your thoughts, set goals, identify your target market, and position your business for profitability. So, write your business plan and develop your business model before starting. 

The planning phase prepares you for a great start, but if you spend too much time planning, you may never get off the ground. After you draft your business plan, start the business immediately, while the drive is still high. Set a schedule for yourself so you can give your new job the energy and time it requires. As a parent, you likely have a lot to handle since your kids need your attention. If you don’t have a time-bound schedule, your business may suffer.      

4. Don’t Ditch Your Current Job Yet

The thought of owning your own online business is exciting, but you shouldn’t quit your day job until the venture picks up. Like every small business, your online business may not make much money in the first few years. Since you’ll still have bills to pay and kids to provide for, you shouldn’t be too hasty in resigning from your current job.   

        

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One Comment

  1. I just read about your article, and i think this is really informative and useful for me to know more about business online.. thank you so much! Love you!
    Warm regards.

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