Monthly Archives: January 2016

10 Flexible Income Ideas for Mums

10 Flexible Income Ideas for Mums

Here is a short 20 minute video talking through 10 different flexible income ideas for Mums.

Transcription

Hello, and welcome to training templates for business ideas for mums.

This is really right for you if you are a mum on maternity leave and don’t want to leave your baby when your leave ends. Many mums I work with are in this position; we love spending time with our kids, and going back to the nine to five can be really heart breaking. Perhaps you no longer love the corporate world and no longer feel like it’s for you and you want to find a different way, or perhaps you want to find something you love doing that fits around your family.

So a little bit about me; my name is Victoria Casebourne and I have nearly 15 years of experience in business, ten of which were before I had children. I studied a computer science degree and got a very good job, but it wasn’t long before I became really unhappy. I used to dread going to work, I was miserable, and it wasn’t until I went to the doctor and they wanted me to start taking tablets, that I realised that I didn’t want to do this to numb the misery I was facing in my career.

I was still young and that seemed ridiculous to me, so for me, the only option was to leave. I knew in my heart it wasn’t for me, I needed freedom and I was fed up being told that there was no place for my ideas. In computer science you don’t have much room for ideas because there’s a lot of programming and writing code which isn’t great for a creative person either!

I didn’t have any business experience or training, but my family have always had businesses, so I’d seen it being done. I left my job with a mortgage to pay and two cats to feed, but I knew I couldn’t continue, and I just did whatever I had to do to make it work. I did my business plan which was ridiculous, looking back at it now, but I got the funding I needed from the bank, and I did what I had to do because I knew this was what I was meant to be doing.

I’ve never looked back. It was one of the best decisions I made and was really scary, but one of the best. I’ve got complete freedom in my life, and when I had my first child I realised how much freedom I did have. I was complete master of my own destiny. I didn’t have the dread of the end of maternity leave because I didn’t have to go back, I could work around my child and book my childcare depending on what events and classes I wanted to do and when I wanted to work.

I wanted to share everything that I’d learned over the past ten years with as many mums as I could to help them find that same freedom and flexibility too. I’ve learned a lot and had a lot of expensive lessons and learned the hard way, and I wanted to share what I had learned to help as many mums as I could and save them from all the headaches that I had when I was doing it.

I want to share with you that I’m dyslexic, so if there are any mistakes I apologise, but I’ve learned to get on with it. I don’t want to hide away and be scared like I have been in the past, and I’m definitely a believer that imperfectly done is better than perfectly never done. I’m very much just getting it out there and hoping I can help as many people as I can in the process.

This is MORE, launched in 2016, and I’m really, really proud of it. A quick whistle stop tour of MORE…

M is the motivation phase, all about motivating you, helping you get really clear on what it is you want and showing you how you can create a plan in order to achieve it, really engaging with what you want.

O is about the opportunities, and that’s what today is focusing on, so looking at creating the perfect opportunity for you. Everybody’s different, so sometimes it might be an opportunity that you buy into, and sometimes it might be something that you’ve built completely from scratch all by yourself, it’s about designing what’s right for you.

R is for relationships. It’s the most vital part of life, not just business, the power of relationships, not just with other people, but with ourselves and the relationship we have with our business.

E is for empowerment. You feel so empowered when you’re taking aligned action towards your goal and there’s nothing like it. You feel completely alive because you’re seeing your dreams become closer and you can start to smell it and touch it and feel it. When you’ve built that successful business, empowerment’s about sharing it with others.

MORE is a whole circular movement of helping people set up a business and then helping them to help others, so creating a real movement around supporting and empowering each other.

I’m going to jump straight into the training because you’re a mum and you’re busy!

These are the ten ideas that I have that you could do if you want to break out of the nine to five and try and earn a flexible income around your family.

  1. Freelance

Some mums I’ve worked with have handed in their notice and ended up on a freelance contract, and that basically means you’re a little bit more in control and you’re a bit more flexible about the hours that you work. Either look at the nine to five job you’ve got now and see if there’s an opportunity to become a freelancer instead or look at what your zone of genius is. Maybe it’s not your current career, but maybe there’s something you do so effortlessly and that you enjoy so much. Other people struggle with it, but it seems to come naturally for you, and that’s what they call your zone of genius.

Look at where you can add value. If you focus on adding value, the money and success will come. Freelancing is a real win-win for employers because they don’t have the overheads of staff, they don’t have holiday pay and because of that, you get a higher rate of pay as well.

Following on from that you can look at the task sites, so what could you do as a standalone task, and by that I mean, what could you do that is in your zone of genius that someone could pay you five pounds or five dollars for, or maybe it’s a 30 pound project that you could do over and over again and upsell afterwards.

There are lots of task sites such as Fiverr or Elance, so you set yourself up as a seller and once you’ve done that and done a great job, could you upsell a retainer or a package? I’ve bought from a lot of these places and I’ve then gone on to get into monthly retainers with the people that I’ve worked with. For example, I bought a package from an SEO person who ended up doing some monthly work for me.

What would you charge per hour? Make sure this is more than you would be paid as an employee, because you’ve obviously got your holiday pay, you’ve got down time, admin time and marketing costs, so you want to charge a lot more than being paid per hour as an employee. I just recruited a virtual assistant because they listed all the software they used and it happened to be a lot of what I use and I thought, great, I could just do with someone coming in and knowing everything, so list all the different skills you can help people with.

  1. Virtual assistants

Virtual assistants are people that work from home as an assistant for the business owner. It just means that instead of having a full time assistant in the business, you pay more per hour, but you’re not paying for tea breaks and holidays, just the tasks that you send through. If you wanted to do this you could do it by package or retainer, you could do it by task, whatever works for you.

Think about the tasks you could perform to help the business owner and think about the hours you’d work. You’re doing this for flexibility and freedom, so make sure you communicate when you’ll be available. You don’t want people ringing you at three o’clock when you’re on the school run, but if you’re planning on being a VA for mums, being available in the evening could be a real bonus.

Think about what would make you stand out above all the other VAs out there. Is there a back story you can share? Have you got particular skills? Have you got interesting things to share? What will help you stand out in the marketplace?

 

  1. Retailing

This is how I started and I do love retailing. If you want to go into retail, think about what you love buying and what you’re drawn to, because that’s a great place to start. It’s got to be something that you love as it involves research and buying, so if you love buying candles and you’ve got a real passion for them, maybe you know more than the average person and you know what’s a good one and a bad one.

Think about your interests and how retail could fit around that. You can add retail to any type of business, so for instance if you became a VA, maybe you could retail some nice stationery or planners to go alongside that. You can be very creative and mix and match the different things I’m talking about today.

Retail is great because you basically buy something in and sell it at a higher price. You could sell at Saturday markets or you could open a shop. This is a big commitment, but you can make it work because you get the staff in to support you, or you can sell online, which is what I did to begin with. If you are going to sell online, have a think about what you’re going to sell, and make sure you don’t have things that are really fragile and try and select something that’s going to be light and easy to post, because postage will be your highest cost.

Think about your story to make you stand out, what are your passions? Link what you’re selling to your back story so you’ve got an interesting story behind it and that will really help you as well.

  1. Making things

Do you enjoy making things and are you creative? If you enjoy sewing, is there something new you could bring to the market? Make sure it’s profitable, and don’t fall into the trap I see many crafters do that they’re making stuff and earning less than minimum wage once they’ve paid for their materials. Make sure you’re making a profit on top of the money you pay yourself or someone else to make it. If you want it to grow, you then want to bring people in to help you make it, and to do that you need profit on that.

When you’re pricing your products, make sure there is money in there and it’s worth doing. I started the Keepsake Company and used this to help other people create a set-up of keepsake businesses. I teach people how to make an income from making fingerprint jewellery, baby castings, impressions and keepsakes. The margins there are great, so make sure you pick something where the margins are really great if you’re going to go down the creative route.

  1. Blogging

Do you enjoy writing? What could you write about? Do you have a passion or a background in something or maybe something’s happened to you in the past that you can really support others through and write about? Maybe it’s not writing, maybe you like talking in audio or video format like I do. I prefer this because I’m dyslexic and I find writing quite difficult in terms of spelling and grammar, whereas in video I can just talk to you.

What could you do to earn an income from this? How could you monetise your blog? You could add a retail string to it, maybe get sponsorship or maybe turn your blog into a book once you’ve written the contents. Blogging’s not necessarily an instant income, but if you get the right support, then there are some great opportunities there. I’ve got a great link to a 30 day blogging challenge by Sarah Arrow if you want to look at that and get started.

  1. Network Marketing

Network marketing or multi-level marketing is a route that lots of mums go down. It’s an instant set-up with no overheads and staff to pay and you can build teams, but be careful about what you pick. Don’t always believe the hype out there and make sure you do your research. Only buy into something where you would genuinely buy the products yourself. It’s not your business and it’s a bit like buying into a franchise, and there have been collapses in the past, so if you’ve built a big business under this type of thing, what would happen if they went out of business?

People do seem quite cautious about these types of businesses, so make sure you do your research, but I do think there’s a big opportunity there is you pick the right one. It can be a great way to earn money, so if your budget’s not there, then it’s definitely something you can look at.

  1. Affiliate Marketing

You promote someone’s business and if, from your efforts, they make a sale, they will pay you a thank you fee. You can get affiliate deals on Amazon, for example, and all big retailers have affiliate schemes which are normally five per cent. If you’re going to blog, you can find companies where you can earn a thousand pounds’ worth of commission from various things. There are very good affiliate opportunities out there and it’s part of my plan to have affiliates, so the mums that really get a lot of benefit out of what we do can tell people what we do, and if someone wants to join because of that recommendation, then they would be paid a thank you fee.

Again, make sure you pick the right products and that the money you do get back as commission covers the marketing costs. There’s a massive opportunity out there if you’re willing to look at this, and again you can tie this into your blog, so if you blogged about something and found affiliate products to link to, instead of promoting your own products you’re promoting someone else’s for an affiliate commission and you’ve none of the work to do in the background.

As long as you’ve got the right offer it can be very profitable. I know people that earn a lot of money through affiliate marketing through their blog, and it’s also very flexible, because all you have to do is market the business, you’re not having to do any of the other work and you’re not tied down in any way.

  1. Coaching and mentoring

Have you got any experience where you can support someone regarding something you’ve been through? Maybe you’re in public relations and maybe you can coach people to do their own PR. Maybe you used to work in a restaurant and can coach people through managing a restaurant. If you’ve already got business experience then you could support them in that. If you love helping people succeed and want to support them, this might be a great role for you.

It’s very flexible and you basically open your diary as and when you want. If you love talking to people, ask yourself what value you could add and what experience you have that if someone could sit down and learn from you, it would save them a lot of time and money. I’m sure everyone listening to this will have something where you can really add value. Maybe you’re a successful childminder and you could help other people. How do you find families? How do you do all the paperwork? There’s a lot of value in your experience that you can share.

  1. Membership sites

Could you package all of your experience in a particular area into a membership site with training and support in a Facebook group? Again it’s a recurring income which is great and it’s one of my favourite things. There’s also regular commitment, so you need to be there on a monthly basis and it’s not something like affiliate marketing where you can sell and everything’s over to someone else. This will take your time, but it’s very flexible on your terms, which is what we’re looking at today.

  1. Information products

Maybe you could put a course together that someone could buy. Perhaps they could come for training in person, it doesn’t have to be online, but what could you teach people? Is there a process that you could teach someone? Could you package up your knowledge into a step by step blueprint or programme that people could see? It could be on anything, training your dog, how to play golf, selecting the right wine. What could you teach people? What is your passion? What is your experience?

Think about why people would choose you on the basis of your story again? How can you show your value and show people why they would want to buy your product? If you’ve done something really well in your zone of genius, can you package that up in some way and break it down so it’s step by step?

So what now?

If any of this has made you think, actually, I could do that or I’d like to explore that, and this has given me some ideas that I could think about leaving the nine to five for, why not come and join me on my free two week challenge?

We’ll take the initial ideas and start mapping them into a plan, so we work out over ten days what your business would look like, what products you would offer, why you want it in the first place, who’s going to support you, what you want your day to be like. It’s a very structured two week challenge and it’s completely free.

If I can do it, so can you. I quit my job, I haven’t done a business degree or have any business training. I’m dyslexic, but very creative so I go from one thing to the other, but I’ve still built a very successful business. I’ve built my business up to six figures twice with a baby break in between, and if I can do it, so can you, I promise.

You just need to believe and you just need to make a small step in the right direction. The challenge is free and without commitment, it’s a lot of fun and you’ll meet some new friends, but maybe for you it’s just about picking up a book or even just handing in your notice like I did. Whatever it is for you, just do something. If you really dream of breaking out of the nine to five, other people do it, so you can too. The universe doesn’t decide who gets to and who doesn’t, only you can, so make sure that you grab your life with both hands and make it work for yourself.

Thank you so much for watching and I shall speak to you very soon.