The Complete "Start Your Business" Checklist
A Clear and Comprehensive Guide to Starting Your Business the Right Way
Although starting a new business or running a business on the side can take a fair amount of time and effort, the rewards could be more than worth it.
Of course, as a woman, you know the trick is to have a business that integrates with your life, while still giving you the time you need to meet your commitments. There are many types of businesses a female entrepreneur can start to test the waters — and if you like one of them, you can grow it into providing a substantial part- or full-time income.
Since 2004, we’ve helped over 500,000 people start exciting businesses and bring their ideas to life. We’ll give you the support, guidance and advice you need to create a woman-owned business and make it into a success.
Here is our simple guide to finding the right ideas, researching and creating a successful business. Whether you’re a stay-at-home mom or an independent business woman, this guide is here to help you.
Some of the best inspiration comes from learning about the successes of other women who have started businesses. Here are some statistics about how successful you could be:
Businesses in the U.S. are owned by women
Generated sales a year of women entrepreneurs as majority or joint business owners
Sales a year or more by nearly one in 20 firms owned by women
This is why businesses started by female entrepreneurs are so exciting - so how can you be part of that success? We're here to help you figure that out.
Before we get into business ideas for moms and other women, we want to point out some funding options available to you. Around a quarter of women seek funding for their business, and around a third of those are successful in obtaining it.
When you’re applying for funding, remember:
Note that the organizations listed provide grants specifically for women. There are many other grants available to both male and female business founders.
The pressures on women are unique, especially if you’re a mom. When you’re deciding on the right business idea, it’s important to take these areas into account.
Finally, you may want a business that helps you stay active in your industry, keeping you up-to-date with the latest skills and thinking.
Whether you’re looking for a home-based business idea perfect for moms, a small business idea, or a unique startup, there are plenty of ideas out there. Let’s get into some good ideas for your woman-owned business.
These areas are just starting points — there are infinite business ideas you can start as a female owner. Once you’ve identified the area you’d like to go into, you need to validate your business idea.
First, you will need the right skill set.
For example, if you’re going into marketplace-based freelancing, do you have a marketable skill you can sell? If you want to be an ecommerce entrepreneur, do you understand all about product marketing, profit margins, working with suppliers and getting customers?
Remember that it’s okay to say “no” to your first, second or third business ideas. Very few entrepreneurs get it right the first time — male or female.
Here are some questions to ask yourself:
Business plans can be easily overlooked, especially if you think you're 'just' starting a side gig. But having one will give you an advantage in setting up your business, running it and getting funding. Business plans do vary slightly, but they should all cover the following areas:
Now that you have all the background information for your woman-owned business, it’s time to make it into a reality. That starts by choosing the right structure or “legal entity” for your business. In the U.S., there are five main business structures:
For more information on the advantages and disadvantages of different types of businesses, please see our in-depth guide. If you’ve still got questions, we’ve answered them to help you choose the right business structure for your women business.
In most cases, our recommendation would be to create an LLC. We’ve got a complete guide to everything you need to do, — and we can even set up your LLC for you