Nearly everyone who has a baby goes from novice to near-expert in just a few months. And some of the best business ideas have come from mompreneurs who had their own “A-ha!” moments while caring for their kids. So how do you to take your idea from infancy to execution? We asked entrepreneur Amy Abrams, co-founder of In Good Company Workplaces a community, business learning center and co-working space in New York City  for her tips on starting a business.    

7 Tips to Consider When Starting a Business

Starting a business is a lot like having a baby. It is a process that requires a lot of love, patience and time! Becoming a parent has intrinsic rewards – there is nothing like your baby’s first smile or hearing your toddler giggle. Starting your own a business can be incredibly satisfying too – that is if the business meets your needs. Here are 10 tips to consider when starting a business:

1.   Be Clear About Your Goals for the Business. First you have the business idea. Then, we strongly suggest that you think about your goals for the business. Do you want this business to make a lot of money? Do you want this business to provide you with creative autonomy? Do you want this business to afford flexibility so you can balance child care and work? These are just a few of the many goals for a business, and your business can have several goals. In our experience working with thousands of women business owners, we find that the most satisfied entrepreneurs are clear about what they want from there business and are able to create a business with these goals in mind. 

2.   Talk to People: As soon as you have your business idea, start talking about it! Often people are afraid to share their idea because they fear someone will steal their idea. All of our experience proves the opposite. People do not want to steal your idea but want to help you! Talking to people about your idea will provide a channel for lots of feedback. And it will help you flesh out your idea. In addition, through the process you will meet future colleagues and potential clients.

3.    Leverage Your Strengths. It is very important to be in touch with what you are best at, enjoy the most and where you will add the most value to your company. At first you may have to do every aspect of the business but overtime it is critical that you are aware of your strengths. We have seen business owners who started a business because they love baking to find that they spend the least amount of time actually baking! Be sure that you build a business where your role make the biggest impact and is the most fun!

4.   Fill in gaps. Once you are clear about what you do best, you can make a list of all the areas that you need support. It is important that you understand all aspects of your business but overtime, it is even more critical to outsource areas of your business that gobble up your time and decrease your productivity. For some business owners this is the administrative aspects of the business for others it is the bookkeeping. Great news! There are very skilled professionals out there that can help – but only if you know where you need help.

5.   Start Small. You have a dream of running a creative arts center for kids. You can image how you would fill all 4 floors of the building that will house this center. That’s awesome! But we would recommend that you take baby steps to get there. Perhaps you want to start by offering a class for kids and rent a space hourly. That way you will create a following that will be there with you on the opening day of your center!

6.    Avoid Isolation. Starting your own business is an incredibly exhilarating process but it can also feel very lonely too. Get out there and meet other business owners! Find your community of peers so that you can learn from one another, share resources and expand your network. We encourage you to join more than one network too!

7.  Learn to say NO. The good news is that people will want to help you and share lots of their ideas with you. The even better news is that YOU get to decide which ideas to listen to! Trust your gut. It is your business and you get to call the shots. It is always good to listen but you do not have to agree with every idea that comes your way. Saying NO often the best decision you can make.

Amy Abrams is an entrepreneur, speaker, and author of The Big Enough Company: Creating a business that works for you (Portfolio/Penguin). She is also the founder of In Good Company, a first-of-its-kind community, learning center and co-working space for women entrepreneurs in New York City. Amy lives in Brooklyn with her husband and two daughters, Ruby and Noa.