Parent and Business Owner: How to Start a Small Business When You Have a Disability
Being a parent is hard enough, but being a parent with a disability can feel downright impossible. Between healthcare appointments and everyday caregiving tasks, it can be tough to find time to pursue your dreams. But what if we told you that it is possible to start a small business as a disabled parent? It might sound a little scary, but with careful planning and execution, it can be done! Here's what the Chamber of Greater Menomonee Falls & Sussex wants you to know about making it happen.
Develop Your Business Idea
The first step in starting any business is coming up with an idea. What are you passionate about? What are you good at? Answering these questions will help you zero in on a business idea that you can realistically execute. Once you've got your idea, it's time to do some market research. Who is your target market? What needs does your target market have that your business could fill? Answering these questions will help you refine your business idea so that it's more likely to succeed.
As a parent with a disability, you might be eligible for grants and other funding opportunities that can help you get your business off the ground. There is money available through federal and local government offices, including funds specifically for entrepreneurs with disabilities. There are also private foundations that offer grant money for businesses focused on serving the differently-abled community.
Carefully Monitor Your Finances
All businesses need to carefully monitor their finances, but this is especially true for small businesses. Keep close tabs on your revenue and expenses so that you always know where your business stands financially. This will help you make informed decisions, like whether or not to hire additional staff or expand your product offerings.
Choose a Business Structure
When starting a small business, one of the first decisions you'll need to make is what type of business structure to use. Common types of business structures are partnerships, LLCs, sole proprietorships, and corporations. Each type has its own advantages and disadvantages, so it's important to choose the one that makes the most sense for your specific business. Once you choose, you’ll need to look up the specific requirements of what to file for your state, or you can work with a formation service and for a small fee, they will take care of all of the paperwork for you.
Create an Effective Business Plan
Once you've decided on your business structure, it's time to start putting together your business plan. A well-crafted business plan will include information on everything from your target market to your marketing strategy to your financial projections. Having a detailed business plan will not only help you get funding for your business if you need it, but it will also help keep you focused as you work toward getting your business off the ground.
Digitize Your Records
In today's digital world, more and more businesses are digitizing their records in order to stay organized and efficient. If you're starting a small business, this is something you should definitely consider doing as well. Digitizing your records will save you time and money in the long run by making your documents accessible so you can easily access the information you need when you need it. You can easily change more files into PDFs, which are stable files that are also very easy to make accessible, using a free converter. Then, you can use an online merge tool to combine files with related content for easier filing or sharing — try this easy-to-use tool.
Market Your Business
Last but not least, once your small business is up and running, you'll need to start marketing it so people know about it. There are lots of different ways to market a small business, so figure out which ones make the most sense for yours and get started. Traditional methods like print advertising and word-of-mouth marketing are always effective, but don't forget about digital marketing tactics like search engine optimization (SEO) and social media marketing.
Gather Helpful Resources for a Strong Start
Starting a small business as a parent with a disability might seem like an impossible task, but we assure you that it can be done! With careful planning and execution, anyone can turn their entrepreneurial dreams into reality. So start with the business structure that is best for your business, find funding, and gather helpful digital tools for filing and marketing to get your business up and running in no time!