Stay At Home Mom & CEO: Balancing Family and Business in the Digital Age

The Power of Determination

Determination is the cornerstone of any successful online business. Unlike other skills, determination can't be taught. It’s a single-minded drive that pushes you beyond minor setbacks. If you often start projects but never finish them, running an online business might not be for you. However, if you’re already tackling the challenges of motherhood, you likely have the staying power needed to succeed.

Finding Profitable Products

Finding profitable products is a skill that can be learned, but it requires some know-how. Many people start with dropshipping because it requires little to no initial investment. However, the profit margins are often minimal. A better alternative for those with limited funds is consignment selling, where you sell someone else’s product and collect a fee of 10% to 25% of the final sale price.

Methods to Find Profitable Products

1. Dropshipping: Low initial investment but minimal profit margins.
2. Consignment Selling: Higher profit margins but requires negotiation skills.
3. Bulk and Surplus Products: Higher profit margins but requires research skills.
4. Wholesalers and Importers: Highest profit margins but requires a legal business and a resale certificate.

For example, a Janome Memory Craft sewing machine acquired at surplus for $99.00 can be sold on eBay for $430.00, yielding a significant profit.

Mastering Marketing Skills

Marketing skills are crucial for selling your products. Two people with the same product can have vastly different levels of success based on their marketing abilities. Effective marketing starts with identifying your target customer and understanding their motivations and concerns.

Steps to Effective Marketing

1. Identify Your Target Customer: Understand who you are selling to.
2. Design Your Offer: Make it appealing and urgent.
3. Find Your Customers: Know where they hang out, what they read, and where they go online.

For instance, if you’re selling skateboards, the way you market to a 13-year-old will differ from how you market to their parents or grandparents. Great marketing is always targeted to a specific group of people.

Conclusion

Running an online business is not for everyone, but it can be a viable way to stay home with your children while earning a substantial income. With determination, the right products, and effective marketing skills, you can achieve the perfect balance between family and career. Never again will you miss a milestone in your child’s life or stress about making your next house payment. Ready to take the plunge? Go for it!

Interesting Stats

• According to a 2020 report by the U.S. Small Business Administration, women-owned businesses account for 42% of all businesses in the United States, employing 9.4 million workers and generating $1.9 trillion in revenue. Source
• A study by the Pew Research Center found that 70% of mothers with children under 18 are in the labor force, and 40% of them are the primary breadwinners for their families. Source
• The e-commerce industry is booming, with global sales expected to reach $6.54 trillion by 2023, up from $3.53 trillion in 2019. Source

By leveraging these insights and strategies, you can turn your dream of being a stay-at-home mom and CEO into a reality.