Miranda and her husband run GPS Return a recruitment a company specialising in helping parents return to work. Not only do they help parents find their ideal, family-friendly job, but they also have a career mentoring solution which helps parents work out what it is they want to do and work on their mindset and any confidence issues, as well as practical guidance such as CV updates and interview skills. Miranda and her husband have 2 children aged 3 and 5.
In this episode you’ll find out about:
Details about Miranda’s business that she runs with her husband
Details about Miranda’s family
Miranda talks about her entrepreneurial journey
Miranda talks about fears and challenges she has had during her journey.
You’ll hear how Miranda and her husband set boundaries for business and family life.
Miranda talks about who inspires her
Miranda gives advice to parents who are starting up a business
Miranda talks about what success looks like for her
Miranda tells us about her what her future plans look like.
Running a small business can be a hectic time with many variables to think about from products to sales to marketing, and if you are doing your own accounting on top of that, it can be all too easy for mistakes to be made.
Those who are new to business might think they can save money by doing all of their own financial management but accounting is a skill in itself and trying to take on too much when you don’t know what you are doing, can cause all kinds of problems.
Some mistakes can be small; others can be the difference between your business succeeding or failing. Ongoing mistaken accounting practices can skew your figures and create significant issues for your company.
Here are some of the most common accounting mistakes which small businesses make so you can avoid making them as well:
Making assumptions about cash flow
Just because you’ve landed a new client, you can’t make assumptions that the money you have planned will actually come in on time. They might be late payers, or the project might go on longer than first thought.
It’s good to have an idea of what’s coming in and what’s going out in your business, but you shouldn’t assume what your cash flow is going to be based on proposed projects and potential new work.
As well as knowing what money is coming in from clients, you need to know what is going out, and the best way to do this is to set budgets in place. Have a budget for advertising and marketing and have a budget for all project costs.
That way you will know exactly what money is due to go out of your business account every month and why, and you won’t be tempted to spend ad-hoc on special offers for advertising or one-off project costs. Setting budgets helps to keep you on track.
Leaving book keeping to the last minute
It’s vital to keep accurate records of all the money coming into and leaving your business account, and the only way to do this is to keep on top of your book keeping. You need to record every business transaction accurately.
If you leave it all to the last minute you might find receipts missing, transactions recorded in the wrong category and your books will be a mess. The key to business success is making sure all of the financial records are up-to-date and correct.
Not understanding employees vs contractors
You need to understand the difference between employing people in your business as employees and using contractors. There are different taxes and financial requirements so make sure you are very clear on the law and very clear on what kind of contracts you are offering.
Trying to do all of your finances yourself
While it’s true that you will have to pay for an accountant to support your business finances, trying to do all of the accounting by yourself is one of the most common mistakes small business owners make.
Even if your business is small and the finance is simple, as you grow and expand it will become more complicated and more time-consuming to manage all of the finances by yourself. You don’t want to be up into the early hours balancing the books so let someone else do it for you. Accounting services offered by companies like Crunch allows small businesses to simplify their accounting needs through their unique approach.
Using cash to buy a set of stamps to post out invoices is still a business transaction, no matter how small and you need to make sure you record every single transaction accurately. It’s all too easy to forget some of these smaller transactions and overlook them.
But if you forget a number of smaller transactions in your books, it will all add up, and your business accounts will quickly be affected and become inaccurate and potentially misleading records of how much money you are actually spending.
Not making sure your books match your bank account
While it’s important to keep records of all of your income and outgoings, it’s also vital to check your records against what is actually on your bank statement. It’s all too easy to overlook small expenses that you might forget about.
You need to make sure your accounting records match with every transaction that shows up on your business bank account so that you have a very clear and accurate picture of your actual real-time business finance.
If you employ a book keeper to help you then you need to tell them everything that goes on within your business and you need to keep records of all transactions and copies of all receipts to give to them at least every month to make sure all the transactions reconcile, so your books always match your bank account.
Who’d expect that a daughter having tantrums over seams in her socks would lead to a life-transforming discovery!
This is how Nina Khoo discovered she & her daughter were part of the 15-20% of the population who share the naturally occurring temperament trait of High Sensitivity. Discovering she was Highly Sensitive was like finally finding the right user-manual to her life, & it explained why her daughter was sometimes really bothered by things like scratchy labels & seams in her socks.
Nina is now passionate about raising awareness of the Highly Sensitive Trait. She coaches Highly Sensitive Women to be strong & inspiring role models for their children through her unique program ‘The A, B, C of High Sensitivity’.
In this episode you’ll find out about:
-Details about Nina’s coaching business
-Details about Nina’s family
-Nina talks about her journey in becoming a personal development coach for highly sensitive women.
-Nina talks about fears and challenges she has had during her journey.
-You’ll hear how Nina manages running a business and family life
-Nina talks about who inspires her
-Nina gives advice to parents who are starting up a business
-Nina talks about what success looks like for her
-Nina tells us about her what her future plans look like.
Hurricanes, Tornado, Floods, and wildfires are some of the natural disasters that can cause a business loss of up to $ 150 billion. Notice is usually given before there appearances, can your business survive the natural disaster? A good entrepreneur is one who knows how to endure such a crush before they lose everything. That is why with the tips provided below, you can prepare your small business for the next tragedy before it’s too late.
Create a response plan
Surviving a disaster needs preparation, a loser will act after the tragedy has destroyed everything including people’s life. Have a written plan that entails all the actions that the company will take in case of a natural disaster. Ensure all your employees are aware of the idea, and for your tactics to work out, you have to ensure there are several meetings for the same if something new comes to your attention. More so, your employees have to be aware of the escape route plans, the usage of the firefighting tools and so on. You can establish a remote system and appoint some employees will work from home if there is a shutdown.
You have to review regularly your the insurance coverage of your business to be sure of enough coverage. Investing in insurance coverage is the best weapon during a natural disaster. That is why you must have an insurance cover that caters for extended coverage, property loss, business destructions, and business closure. It should cover for all natural disaster in case one of it happens.
Create a good communication plan
Since your property is covered and can be recovered after a breakdown, losing your customers will be a loss, that is why you have to have a communication plan. Employees are part of your business, so they should be aware of your communication plan so that after a temporary shutdown, you will be able to win back your customers and clients. The method is efficient if you manage all communications but have some people leading the clients’ contacts, customers contact, and even the insurance company contact.
Storage of company’s data
Back up plan is an essential plan for your business. Retrieving customers contact lists and data after a shutdown is easy if stored in the cloud or other database systems. You should have a reliable hard drive, and a copy of it stored in another office at a safer place. Moreover, with the company’s data in the cloud, employees can still access information on important documents, and ongoing projects, thus, they continue working remotely.
Build strong relationships with the employees
Employees are your family and relatives when it comes to business. A good relationship eases the recovery process procedure after a loss. You should also ensure clear communication to your vendors and clients after the disaster so that they also be aware. Your small business can face lots of challenges after a disaster like incapabilities of making a delivery. But keeping your clients updated will save you the loss.
Not everybody can prevent the next natural disaster, but with the above plan, it might save you more than you could have lost. The above method can help your business to be back on its feet earlier than you expected, only if you implement it.
It may seem intimidating to start a business with plenty of risks to make the decision a difficult one. Yet, starting a business from home can remove some of the risks, and there are ways you can increase your odds of success. There are many benefits to being your own boss and in control of your schedule, if you prepare and plan well.
What Do You Want?
Wanting to start a business is one thing, but what does that entail? How will you balance home life with a home-based business? Is there a particular niche that you wish to pursue? Consulting offers you choices. You may find that your chosen field offers additional options, so consider how nuanced or broad you want your business to be. Think, as well, about your skill sets, how you want to harness the experience and knowledge that you have accumulated over the years. How might you apply them to a consulting business? Knowing what you want is beneficial, as it may give you solid foundations. After all, a crucial part of consulting is presentation, how best you can lay out proposals to prospective clients. This may be central to how confident you are in communicating core talking points, both about what you can deliver and understanding a client’s needs.
You may be undecided about how you want to harness your existing knowledge. In the meantime, you can still earn money while exploring what form you want your main home business to take. Freelancing gives you various options from writing to photography. Pet sitting, for instance, offers a lot of flexibility. There are plenty of websites catering for freelance pet sitters, allowing you to find clients at your discretion. You can set a schedule that suits other commitments, while you can also determine how much you charge clients. Being a pet sitter is all about choice. For instance, if you are most comfortable with smaller dogs or feel that your patience would allow senior canines to thrive in your presence, you can set your own preferences.
You know what you want to do, but turning that into a viable business requires some planning. You don’t have to create an elaborate scheme, however. At the very least, research what is legally required of you. What licenses are required? Are there zoning obligations? Then ask yourself what pricing structure you will be looking at. Do you want to set yourself a certain income threshold? As well, think about you will grow your business over time. Factor in how you will market yourself, both analogue and digitally. Social media may prove essential to securing clients, all the more so as you will be home-based. Branding, too, will be important, as knowing what identity and image you want your company to have can give your business a confident start.
Create a Work Environment
Productivity is key to growing any successful venture. Working from home sounds great until you find yourself contending with a myriad of distractions. You need to be able to disengage from anything that could disrupt your schedule. If you live with others, remind them that you are not available during work hours. Of course, there may still be distractions, so consider setting up an office to demarcate work and home life. This is a good way to replicate a professional working environment, allowing you to maximize your time and not lose any impetus. It also can let you switch “work mode” on and off, helping you stave off any burnout caused by being constantly on demand. Your efforts can be supplemented with business tools. They may help you organize your schedule, store your work, and even manage your social media. Whatever it is that you need, you are likely to find a tool for it and help your business in the long-term.
By creating a positive, focused work environment, preparing your goals and thinking outside of the norm, you may be well on your way to a successful home-based business. Don’t discount things like pet sitting, as they can be an excellent way to earn an income on your own terms. Know what you want and go get it today.
Amy Collett is the creator of Bizwell.org, a website that helps professionals and entrepreneurs build and strengthen their personal brand. When she isn’t helping clients boost their careers or businesses, she enjoys coaching her daughter’s soccer team and training to become a yoga instructor.
She is the author of the upcoming book, You, Exemplified: The Role of Personal Branding in Your Professional Life.
So, you’ve got a business. That’s fantastic. You’ve got something which you worked hard to build, juggling family life with everything else along the way. However, it’s not always a paradise.
In a lot of instances, you’ll find that business doesn’t move as quickly as you would like. This often is not your fault, but instead the industry you find yourself in. There are peak points of demand for any service, and then there are moments when it all goes wrong. We’re going to be taking a look at what you can do if you do find yourself in a moment where things aren’t going according to plan.
When you’re in an unfamiliar situation, it can seem like panic is going to set in at any moment. After all, you rely on a business to make money and keep your family looked after, so it’s almost expected that you would panic when the business is slowing down.
However, we advise that you don’t do that. Please, try not to allow feelings of fear and frustration overwhelm you. When people panic, they’re more likely to make snap decisions. While this can be useful in some situations, it isn’t going to help you as a business.
Identify Alternative And Temporary Work
When business is slow, we won’t argue that you shouldn’t sit around despairing. In a lot of instances, you need to find something which will provide you with a temporary source of income.
For example, people providing administrative services might find that writing letters for people online is a good supplement. Learning a new skill for yourself is never a bad thing when you consider the scale of the internet and just how easy it can be to make money on it. Not only have you found a source of work you can put down when business picks back up, but you also have a contingency plan for if business slows down again.
Promote Your Products In A Wider Location
If a business is slow, it might be because the places you’ve promoted in have had so many of your products or services that they just don’t need them right now. When this happens, it’s a case of making sure that you are taking the time to stop and promote in a brand new environment. Not only do you have the support of your existing audience, but you also have the much-needed testimonial from happy customers!
Overall, these are just a few of the different things that you can do as a parent entrepreneur for your business. While it’s not always easy to try and stay positive when business is slow, it’s vital that you try and keep a level head while you’re working to provide for a family. It can be scary when your business doesn’t provide for you, but it is not the end. There are other things that you can do to make sure that you have a good income stream, and it’s often a matter of taking the time to slow and down and focus.
The Parents in Biz Hub gives you access to;
Tools & strategies for parents in business Expert workshops A supportive community of parent entrepreneurs Group support calls Business resources Accountability
Self-care is vital when you’re a parent entrepreneur. It can be so challenging to try and make sense of things when you’re always dealing with all the trials and tribulations which come from having both a business to run and kids to bring up.
Thankfully, there are a lot of simple things that you can do as a parent entrepreneur that aren’t that difficult and will help your self-care. To make sure that you’re not neglecting your self-care, we’re going to be taking a look at just a few of the different things that you can do here.
Make Time For Fitness
While it may seem like something of a novelty, you do actually need to make time for fitness. We know that a lot of parents can lose weight or get fit just from the time they spend rushing around, but this isn’t the way to practice self-care. It’s worth making time to go for a walk by yourself or with your partner, even if it is just once a week. Making time for fitness also boosts your energy levels.
Meditation has a range of benefits for the human body. However, what’s important is that you’re using this time to rejuvenate your spirit and care for yourself. If you don’t have time to meditate during the day, perhaps you could get up earlier or do it before you go to bed. However, it’s definitely worth looking into.
Clean Up Your Space
There’s a school of thought which suggests that the space we have is a representation of our mind. If your space is cluttered and untidy, then it’s an indicator that perhaps you’re not doing as well as you could be in self-care. Try cleaning up and reorganising and seeing the difference it’ll make.
Say What You Feel
Reaffirming your connections and bonds to people is an essential part of the self-care process. It may not seem like that big of a deal, but it can be crucial for making yourself and your partner feel good again. As a parent entrepreneur, you don’t want to take anyone for granted, so make sure you always say when someone’s essential or valued.
A large part of self-care is understanding what you have to be grateful for and expressing it. If you are thankful for something or someone, make sure you acknowledge it as much as you can. Tell that person or write it down, and you’ll see it makes you feel good too.
Overall, these are just a few of the different things that you can do as part of self-care as a parent entrepreneur. It’s never easy to manage your business, your family and your spirit all at once, but it’s worth doing. Otherwise, you can’t enjoy as rich and full a life if you’re not looking after you while looking after everyone else.
Whether you are working and looking for the way into building your own business and being able to leave work, or whether you are an entrepreneur looking for some extra gigs, side hustles are a great way of generating additional income streams, and not keeping all your eggs in one basket so to speak. Side hustles are so called as they fit neatly around other commitments, like the day job, but can offer a valuable financial boost, so here are ten ideas to get you started.
1. Sell on eBay
Nice and simple, you can either sell your unwanted items on eBay, or you can build a shop, buying wholesale and selling at a profit. The key to getting sales are quality descriptions, keywords in the title and high-quality photographs. Keep backgrounds white and only show the item, not other random things that happen to be in the shot. Be sure to look at commission structures and the cost of post and packaging and these can drain your profits, but the upside is you can sell pretty much anything as there is a category for most things.
2. Online Tutoring
If you have a degree or equivalent level of education, you will find there is a demand for online tutors. There are several sites that will help you match with potential pupils but remember that they will want a commission in return. You can set this up on your own if you are confident, and there are a range of platforms available that let you live chat, with video. You can either teach your subject or look into English as a foreign language, as this is always in demand.
3. Be a Domestic Goddess
If you have some spare hours and are looking to fill them, why not consider domestic duties. Whether you offer a collection and return service for ironing, or are happy to visit people and clean for them, there is money to be made in taking away these hated chores from other stressed workers. If you have green fingers, this could equally apply to gardening. A great way to get your exercise and make some extra money is to offer a dog walking service. Be sure to look into insurances for public liability.
Another favourite way to bring in an extra income stream, if you have a spare room, is to register on airbnb.com. Here you will find travellers passing through that are looking for a place for the night or a few nights. It is up to you to set the rules of who you are happy to host, but savvy folk have managed to get their whole mortgage paid each month thanks to this website. There are other sites that run in a similar way so consider registering on all of them.
5. Rent Your Driveway
If you live near a big hospital or near a busy town your driveway could be a potential goldmine. If you have the space, consider renting out your driveway, even better still if you can offer unsociable hours, as places like hospitals often do not have enough staff parking provision, and night workers and shift workers are always on the lookout for places to park. Just remember to make visitors aware, as you cannot charge and then have the space in use when they turn up.
6. Become a Landlord
A tale as old as time, being a landlord is an easy way to boost your annual income. If you can afford to have a second property, you have the basis of a great side hustle. Hand the day to day running to an agency and sit back and watch the passive income roll in. If you are in the market for a property to start this off, student lets are always in demand if you live in a university town or city.
7. Be an Extra
This one is a little bit location dependent, as you do not want to negate your fee by travelling for hours. However, bigger cities are almost certainly going to have various films and television shows being shot, and there are a number of websites that help you find these opportunities. Extras are needed in all age groups, male and female, so do not be put off looking.
8. Write for Money
Writing for money is another great idea. Businesses, large and small, often outsource writing, and freelancers tend to be cheaper than using another company. Blogging is perhaps the most popular job that gets outsourced, but people also look for book writing and web content. Again there are freelance sites like Fiverr and Freelancer that can help you get started.
9. MLM Sales
You will be aware of several MLM companies operating at the moment, if you are not sure then we are talking about things like JuicePlus, Avon, Aloe Vera and many others. You are basically a sales rep for another company and earn a commission on the items that you sell. Often bad mouthed as pyramid schemes, as long as you are aware of how they operate you should be fine. Some will push you to create teams of your own, which in turn earns you more money so might be of interest. Alternatively many will let you sit as a sales rep and just make your own commission. You will need to be outgoing and bold and not afraid of repeating your message over and over, but there is money to be made.
10. Create an App
So this probably requires some upskilling for most people, but mobile apps are huge and do not show any signs of becoming less popular. In fact, this is a growth market. Being an app developer means you get paid even if the app is not a big seller. The person who came up with the idea will make payment on completion of their app. If you have the skill to create apps, then you can also use it to make your own and hope you hit a really popular niche.
Whether you have days where you feel that your order page is seeing tumbleweed and nothing else, or whether sales are trickling in nicely but you are not overly busy, increasing sales is something we all long to achieve. However, running a business is also costly, so naturally, we try and avoid spending loads of money on advertising we cannot afford or professional coaches to tell us what we are doing wrong. But can you actually achieve better product sales without jeopardising your profit? We think you can, so here are some great ideas to boost sales.
Be Proactive on Social Media
While many social media platforms play down the organic reach because they want customers to use paid advertising, do not write it off as futile. Remember that social media is all about brand awareness and getting people interested in your message. Don’t just post product after product, try and get some interaction going, ask customers to leave reviews, start conversations by posting industry-related news, and then sprinkle in some offers and product placements.
Run a Giveaway or Promotion
People love something for free and failing that a discount works really well. Consumers can sometimes feel like they are bombarded by product after product, so they don’t bother to look unless something catches the eye. On social media, a giveaway is often a great way to boost likes and get your page shared for free. Once people like your page, anything you post appears in their newsfeed, so generating new likes creates a whole new potential customer base. It doesn’t have to be an expensive item or a significant discount, so don’t overstretch yourself.
Again, people are more interested when they think they are saving money, so considered offering a group of related products at a slight discount, you sell 3 or 4 items where you might have only sold one so, 10% off is a price worth paying. Many retailers offer these multi-buys on a flexible basis, as it is essential that customers feel they are choosing what they actually want not having something they are too struck on forced into the deal, maybe by a necklace and, if you add any set of earring, and any ring, the 10% discount will be applied.
Ask and Listen
Be sure to offer a feedback system when you make a sale. Your current customers shopped with you for a reason; you want to know what that was as it helps you understand who your customer base is. You also want to find out if they would shop with you again, and importantly if not, why not. This helps you effectively target any advertising you do, and if needs be make changes to the way you run your business.
Be Competition Aware
Check your prices against other similar retailers. You want to sit in line with them, and not be massively cheaper or significantly more expensive. Being too cheap, which is something we are all tempted to do, suggests to the customer that your product is inferior or in some way not as good. Pricing yourself out of the market is another glaring problem. Find the right balance and sales should increase.
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