I’m a firm believer in making things simple. My life is so hectic and crazy and I have at least a billion thoughts running through my head daily. So I’ve made becoming a successful MOMpreneur as easy as ABC! The best way to find out if you have what it takes to be a MOMpreneur is to find out what issues you’ll face. Then answer this question…Do I have the knowledge or can find someone (with my resources) with knowledge of the ABC’s of being a MOMpreneur. So let’s get started.
A is for Attorney…find a good one that can and will answer your questions about liability, negotiating and intellectual property.
A is for Antennae… yours should always be up! Always be aware that your next big break could be standing right next to you. So keep you eyes and ears open.
A is for Assignment of Rights. This legal document will deliver 100% of the rights to any artwork to you and assign you the owner. This could be vital to your success (depending on your business). Click here to see an example of an assignment of rights.
B is for brand…Own your brand! And be aware that your brand in part is you! Be an advocate for your product and your brand. Dress the part, speak the part. Show your face with your product. People are buying you as much as your product when you are a MOMpreneur. Be consistent with color, font and “the look” of your brand.
C is for Contacts…use every contact that you have ever met to help you find the people you need to meet and further your goals. Get on LinkedIn and link up with old friends, coworkers and employers. People will help you if you just ask for help.
C is for Concept…Is your Concept feasible? Is it realistic that you can create a demand for your product? Is it feasible that you have enough money to make, distribute and create demand for your product?
C is for Cost…How much will it cost to make, distribute and market your idea? Do you know and understand the difference between markup and margin. Click here for a table that will show you the difference. Understanding this alone will save you from going out of business.
C is for Courage…The Lion has nothing on you. It will take the discipline of courage in order to propel your idea forward. If you don’t have a lot of it, quit now!
D is for Demand… Is there a demand for your product? Can you create a demand for your product?
D is for Demographics…Do you know the demographics of your customers? What age, income level and gender are they? This will be key in your social marketing.
E is for Email Signature…Use this valuable real estate to sell yourself, get your social media links out there and share information. Use Wisestamp for FREE to do this.
F is for Facebook…Understand that whatever your business goal, Facebook can help you accomplish them. Set a goal to learn how to use this mostly FREE resource.
F is for Friends…Those on Facebook and the real ones. Use your friends to spread the word about your new venture.
G is for Goals…You don’t know which direction to go if you don’t know where your headed. Set realistic but high goals and establish an action plan to accomplish them.
G is for great product…make sure that your product is one of them. Always be looking for ways to improve what you are offering.
H is for Hats…The many that you must wear if you intend to start and run your own business. But it is essential for you to admit what you can’t do and hire it out. If you know you can’t learn accounting, then hire one. If you know that social marketing freaks you out, then hire someone to do it. No one can do it all, but make no mistake you must do a lot as a MOMpreneur. But it sure keeps life interesting!
I is for Intellectual Property…Copywrite, Trademarks and Patents. Go to USPTO.gov to search trademarks. Learn about IP but hire a good attorney to file them for you.
J is for Join…Join networking and business groups. These contacts will propel your business forward.
K is for Knowledge…Know your target market, know yourself, know your business. Who is your customer? What do they want? What can you accomplish without hiring help? Who do I know in my business? What are the trade shows in my industry? Who are my potential vendors and distributors?
L is for Lessons…Learn them with every interaction. What happens today will train you for tomorrow.
L is for Listen…Listen to what vendors, customers and your gut is telling you.
L is for Log book…Keep a log book (if you are working on an invention). Start at the front and fill in every page front & back. This is vital if you plan to file for a patent.
L is for Licensing…This can be an easier route to get your product on the shelves. Approach manufacturers that offer similar or complementary products to yours, have them manufacture and distribute your product and you get paid a royalty on each item they sell.
M is for Mentors…find a couple of good ones and listen & learn. These people have been there and done that and can teach you a lot!
M is for Markup vs. Margin…not understanding the difference will put you out of business quicker than anything. Click here for a table that will show you the difference.
M is for Market Research…you have to do your homework before entering a new venture. Find people in the business and ask them questions, then be quiet and listen.
N is for Networking…you must have a top of mind awareness of growing your network of contacts and fans at all times. Ask and ye shall receive.
N is for Nondisclosure Statements…this is a legal binding document that prohibits anyone that signs it from talking to others about your invention, idea or creation.
O is for Own Your Brand…Know what you want, and be a walking talking advertisement for your product!
P is for People…Remember you are in the people business when you are a MOMpreneur even if your product is dog food.
P is for Publicity…A vital FREE resource for any new business. Learn as much as you can about how to obtain it.
P is for Photos…Have a large inventory of great photos of your product in action. If you have a new concept that consumers have to be educated on, the best way to explain and sell is with great photos!
P is for Photography Release…If you have models in your photographs you’ll need each of them to sign one. You can find an example of one by clicking here.
P is for Patents…Do you need one? Is your idea “patentable”? How much does a patent cost?
P is for Plan…You can’t wish for what you want…You can’t hope for what you want…YOU MUST HAVE A PLAN!
Q is for Questions…Always be asking them, then shut up and listen.
Q is for Quiet…As in be quiet and learn from others!
R is for relationships…Nurture those relationships that can benefit you. Take someone to lunch once a week, write handwritten thank you notes to stay connected.
R is for Royalty…Licensing your idea and collecting a royalty on the wholesale sale could be the way to get your idea on the shelves.
S is for Social Media…Don’t be intimidated. Learn the basics first, Facebook, Twitter, YouTube, Pinterest and LinkedIn are all FREE and will be your best marketing avenue if you used them effectively.
T is for Trade shows…You don’t have to be a vendor. Attend them and learn. Ask questions, compare and have a hands on trial with your new business.
U is for Understand…What you can and can’t do, that is. If you can’t do some part of your business then hire it out. But understand a some about every aspect of your business as well.
U is for USPTO.gov…The Trademark office of the US. Go here to search to see if you are infringing on a trademark and conduct research on your own.
V is for Vision…What is your vision for your product, brand or company. Map out a clear path to obtain your vision.
W is for Who, What & Why…Who is your target market? Why would they buy your product/buy from you? What problem is your idea/business solving. Use the answers to these questions in your marketing materials.
W is for Work for Hire Agreements…You may need one of these depending on what your needs are. If you file a patent you will most certainly need it.
W is for website…Do I have to say you need one? Well you do, you can even get one FREE on WordPress.com. Consider having a blog on your site, it will boost your street cred and SEO. Update the site at minimum once a month. Don’t have snow falling in the background on Independence day. Absolutely have a links to your social media as well as a newsletter or blog subscription option. Once people find you, you want to stay connected!
X is for Extra Mile…If you are going to be a success, you’ll have to go here. Slackers stay home.
Y is for YouTube…Customize your channel and have at least 3 videos that explain your product, demonstrate it and help sell you as an expert on your subject and your product category.
Y is for You…Do have the IT factor? The IT factor keeps you going when you think you have exhausted all resources, it feeds energy when you just want to give up, and searches for the cracks in the windows that you might be able to pry open.
Z is for Zip Code…Do you have contacts in a lot of them? I can’t stress enough the value of connections and your network of contacts.
Hi Ladies! Welcome to University of MOM™! At UMOM™ you’ll find everything you need to make your American Dream come true NOW! I believe that life is too short to spend it working for someone else, making them rich, when all the while you have everything you need to make your American Dream a reality! All you need is education, communication and motivation!
