HOW TO START A BUSINESS AS A PARENT WITH A DISABILITY
As a parent with a disability, becoming an entrepreneur will give you greater freedom in your professional and personal life. That said, running a business can be tough, especially when you have special needs and a little one to care for. The right support network can help. For example, you can outsource basic business tasks to freelancers and trust child care professionals to care for your little one when you're busy with work.
This is just one way you can assure success. Read on for some more actionable tips designed to help persons with disabilities become thriving entrepreneurs.
Find a fitting business model, taking into account your disability needs
Choosing the right business model will set you up for success from the start. Look to leverage skills and resources you already have at your disposal. For example, if you have a background in education, an online tutoring business makes sense. Other ideas include ecommerce and online trading. Also consider your community's needs as you decide on a business type.
Write a business plan and get the financial funding you need to get started
As you crystalize your business idea, flesh it out in greater detail by writing a business plan. This document explains exactly who owns your business and how it's run. It also addresses operational details like how you will market your business. From a practical standpoint, a business plan is also useful because it can help you acquire funding to cover startup costs.
Sufficient funding will help you cover overhead expenses like business registration fees and commercial rent. Rest assured that you have many funding options as a startup owner with disabilities. Business Yield provides a roundup of grants specifically for disabled entrepreneurs, including both governmental and private opportunities.
Handle the administrative elements of entrepreneurship
Once you've decided on a business model, determine what type of business structure you will establish. Examples could include a corporation, nonprofit, s-corporation, or limited liability company. Setting up your business as a formal entity can help protect you legally as a person and simplify administrative tasks like tax filing in the future.
Other startup practicalities to address include registering for an employer identification number, selecting a "doing business as" name, and setting up a business bank account. Zenbusiness explains why you shouldn't mix business and personal funds, revealing that commingling funds can result in sloppy bookkeeping and jeopardize your liability protection.
Raise your business profile with marketing and networking efforts
Once the administrative and practical components of your startup are set, you can start finding your first customers. Marketing will play a key role in boosting your business' profile. The Digital Marketing Institute explains that online marketing is ideal for small businesses, as it's affordable, low-risk, and allows you to connect with a global marketplace.
Networking is another great way to expand your business' reach, connecting with both potential customers and business partners, vendors, and more. You can register with your local Chamber of Commerce to get additional support and access to networking events. There are also networks specifically for professionals with disabilities.
Starting a business is an exciting step. As a parent with a disability, you may be worried about the obstacles you may face. However, there are many resources available to help entrepreneurs like yourself find success. The above guide offers a small preview.