As more and more parents find themselves challenged with the juggle of working and childcare especially in 2020, it is no wonder more parents are looking at starting their own businesses that they can craft to suit their family commitments too.
It is really common for parents to experience pain or frustration in bringing up their little ones which leads to a genius invention or a problem solving service to help others to overcome the same challenges.
The Sleep Nanny® was born out of a real life experience of sleep deprivation and a discovery that it need not be something that families suffer through when there is often a solution. Like so many other successful businesses and brands, it came from finding the solution and packaging it in a way that it can be shared with others who need it.
If you’re thinking about starting a business of your own, my advice to you is to start by asking yourself…
- Does your service solve a real problem that people need help with?
- Is there an audience who are hungry for what you offer?
It’s easy to get caught up in the excitement of an idea of something you believe will be great but you have to make sure there is a market for it.
According to a 2019 article, Forbes refers to the ‘new mom economy’ as an estimated $46 Billion millennial parenting market.
In 2020 we noticed more and more parents as well as businesses becoming more confident accessing information, support and guidance online which is an amazing leap forward and makes it easier than ever to impact more people around the world with your services.
~Novel Serialisation: Heavens Fire~
Consider whether you want to go into business for pocket money or as a side-hustle or if you want a business that you can scale. What is your big vision?
Providing a service where you simply exchange your time for a fee is a model that is limited by the number of hours you can work.
Do you need to consider a business model that is scalable and can keep going without you should you wish to take a holiday, be home with a sick child or take the school holidays off?
Of course you’ll want to earn an income from it, otherwise it’s just a hobby but what is your purpose? I believe that if you always keep your focus on the purpose, the big vision or mission, then the income will automatically follow because you’ll be serving your audience to the highest level.
You can look to see if anyone else has successfully built the business model that you envisage for yourself. It will give you a clue as to how viable it is. If your idea is brand new, you will need to do further market research and find out if people ‘want it’.
Don’t try to do it all on your own. I can’t think of one successful entrepreneur who doesn’t talk about the mentors they had along the way. There is always someone who has travelled the road before you or has the experience to share with you that will cut years if not decades off your journey to success.
And finally, be courageous, let go of your fears and go for it! You’ve got one shot at this life so why wouldn’t you want to put every drop of the potential you were born with into doing something meaningful?
By Lucy Shrimpton, Founder of The Sleep Nanny® and www.sleepnannyacademy.com
Lucy Shrimpton is the Founder of The Sleep Nanny Academy, giving individuals the opportunity to build their own business, work on their own schedule and make a huge impact. Anyone interested in re-training as a Sleep Nanny can visit https://www.sleepnannyacademy.com/
