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The Best Advice for Disabled Parents Ready to Begin a New Venture
by Marcus Lansky
Are you considering building your own small business? Being your own boss can mean more flexibility and independence, but it can also be a daunting proposition. Here’s how parents with disabilities can pursue a successful venture while making the most of their opportunities.
Consider your angle
Do you have a great idea, and it’s time to put it into action? Or are you still figuring out what direction to pursue? You might be itching to start a new business, but sometimes deciding on the specifics can be daunting. One way to jump in is through e-commerce. Thanks to technology, it’s a thriving option that allows you to get your feet wet, and you can become established with minimal investment by becoming a drop shipper. Consider a trendy startup, like selling wholesale clothing, HIIT workout gear, or drones.
If you’re completely unsure or want to further examine what work might be best, try taking an online quiz designed to help you narrow down what kind of entrepreneurial role fits you well. What you do will drive other decisions, such as your necessary equipment and how much workspace you need. In order to succeed, you’ll need a sharp, easy-to-use website and fantastic customer support, so it’s a good idea to develop a game plan beforehand. Once you have a solid path, you can start framing how to put your business together.
Select appropriate transportation
Certain ventures require the use of vehicles, and there are a few factors some experts suggest when choosing a truck, van or car for your new business. In addition to considerations like comfort and ease of use, whatever vehicle offers the best long-term financial picture is a key. You should examine various costs, like how expensive the insurance is, fuel costs, and how well the vehicle tends to hold value, in case you sell it later. On top of that, TurboTax recommends thinking through some of the tax ramifications of how you handle the expenses relating to the vehicle purchase and use. Ultimately, it’s in your best interest to find a good deal on whatever vehicle you buy for your new business.
Choose a great location
As a mom or dad with a disability, your workplace should be an environment that offers support and encourages productivity. For many people, this means a home-based business. When going that route, think about whether you plan to set aside part of your home or add an outbuilding. Consider what will help you to focus on your work, whether you’ll receive clients or shipments to your location, and how that will all weigh into the design of the space you intend to use. Also, consider your family situation and your work style. For instance, you might want to be close enough to keep tabs on your children, or you might need space to focus.
Dot your i’s and cross your t’s
As a new business owner, you want things to be done properly straight from the start. That means not only having a great idea, well-chosen vehicle, and appropriate workspace, but also covering some basic legalities. Check into Las Vegas zoning codes for your location, find out if you are required to get any special permits or licenses, and depending on the nature of what your plans are, you might want to go ahead and register online as an LLC.
Down to the nitty-gritty
Before you can apply for any funding or other assistance, you will need to develop a formal business plan. Research your market niche, create a company profile, and document your projections. While beginning a new business venture is a daunting prospect, there is assistance available through the government, such as mentoring, counseling, or training. You can potentially receive financial and other help as well, and there are some grants available, depending on your circumstances.
Opportunities abound for small business owners, and if you’re considering taking the leap into building your own venture, the time is ripe. Think through what form of business will be a good fit, decide on a vehicle and location, examine legalities, and get assistance where needed. You will be set up for success, thanks to your good planning!