Guest post by Gloria Martinez of WomenLed.org
Photo by Anna Nekrashevich / Pexels
Starting a business is challenging for every entrepreneur, and as a woman in the publishing space, you’re in a particularly unique situation. You may have to balance your business with your responsibility as a parent, spouse, and homemaker — or even with another full-time job.
Yes, it can be daunting. But you can create a flourishing business despite the challenges. Below, woman-owned DTPerfect Book Design and I will discuss how to start and manage a business so that it thrives when you’re juggling all your other responsibilities.
Find Your Self-Confidence
Launching a company demands a level of self-confidence; believing that you can do it is perhaps the most critical factor for success. If you’re like many other women, you feel a bit insecure about entrepreneurship. Just remind yourself of your strengths and achievements!
Tap into your creativity, skills, and knowledge, and take the first step. Do some research, connect with people who can help, and embrace that initial leap of faith. A growth mindset will help you stay focused on your goals and move towards success, even if it’s gradual.
Set Up an LLC
All the paperwork and red tape of starting a business can be daunting. Nonetheless, forming an LLC can protect your personal assets and give your customers the confidence that your business is legitimate. And you can establish an LLC online from the comfort of your home using a formation service. (Note that setting up a publishing company as an LLC may not protect you from legal issues such as copyright infringement, libel, or defamation. Those are usually the responsibility of the individual author. While it’s best to avoid these legal issues altogether, check with a publishing attorney to review your specific questions.)
Make a Business Plan
One key to running a successful company is creating — and regularly updating — your business plan. This document is a roadmap outlining what you aim to achieve and how you plan to achieve it. As a woman author and entrepreneur, it’s essential to create a solid-but-flexible business plan that accommodates any challenges you may face along the way.
Your plan should include a realistic timeline with short- and long-term goals. It should also address all the financial aspects of your business, including your budget, projected expenses, profit forecasts, and revenue goals.
If you’re like many other authors and entrepreneurs, you feel like you have to do everything yourself. Still, delegation is crucial to running a successful business. Giving tasks to employers or freelancers will free up more of your time to focus on other aspects of your business.
Evaluate your strengths and weaknesses, and delegate any tasks that may take you a longer time than it would for others. Doing so will help you focus on other critical areas like marketing, writing, or networking — or you’ll simply be able to spend your energy on the things you do best. Remember to connect with DTPerfect if you need help designing your next book!
Prioritize Your Well-Being
It’s easy to forget about your well-being in the midst of running a business while managing all your other responsibilities. But here’s the thing: your well-being affects everything else, so taking care of yourself must be a top priority.
Make sure you have time to eat well, move your body, and take breaks. Care for your mental and emotional well-being by getting enough sleep, socializing, and making time to enjoy your hobbies and interests.
Starting and managing a business might seem impossible when you begin to see everything that’s involved (especially if you have other responsibilities to juggle). That said, you can create a flourishing business while balancing all your life commitments by believing in yourself, establishing the appropriate legal structure, planning out your business, delegating tasks, and practicing self-care. Take the first step toward your business goals today, and remain consistent and dedicated at every turn.
Would you like to read more helpful content or learn about our book design services? Visit DTPerfect.com today!