For many stay-at-home parents in Minnesota, the desire to spend time with the children and avoid day care costs are offset by the need for a second family income. The answer for many is to start a business that can be run from the home.
According to Forbes magazine, the first step for any entrepreneur is to choose what products or services will be offered. This should be something that he or she is passionate about, or else it may fall by the wayside when it becomes apparent how much energy and commitment the business takes to maintain.
Even a side business at home needs to meet legal qualifications, such as registration, certifications, licenses and other documentation that must be filed. Choosing what business formation, whether sole proprietorship, limited liability company or other option, is also critical, as this will affect how taxes must be paid.
Entrepreneur magazine points out that working from home can make it all too easy for a parent to allow home and work schedules to run together. Experts recommend designating an area of the home and certain hours of the day for business in order to prevent work from creeping into family time. This includes only answering emails and phone calls during business hours, even though they may come in at all times of the day.
There are many professional organizations business owners can join that provide both networking and educational opportunities. The sense of community may also be essential for those who work from home and do not have co-workers or colleagues around to bounce ideas off of or share stories with.