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Life with a disability can be difficult. Sometimes, it may seem overwhelming and seemingly trivial tasks may be too much for you to handle, especially with the added responsibility of a child. However, with a bit of know-how, you can tackle those obstacles, even if that challenge is starting and managing a successful business. 3Envision offers some insights.
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One difficulty you may face when starting up a business is funding. However, you may find the capital you need with loans and grants. Specifically, the U.S. government offers grants to disabled entrepreneurs starting a business. Keep in mind that grants are money you don't have to pay back, that helps with the expenses of starting a business.
The National Disability Institute offers low-interest loans to help disabled individuals with business expenses. These loans are even available to people with not-so-great credit.
While hiring help is an expense, it may be one that's worth it to you. When you have assistance, you'll have fewer responsibilities and can focus on the management aspect of your business. Another benefit of hiring help is the fact that you can easily expand your business.
When you hire help, you may have someone there who can assist when you're faced with tasks that your disability makes difficult or impossible to overcome.
Keep in mind that you have to consider your budget when hiring someone. You can choose to pay them a low hourly wage and have them work more hours or utilize their services at a higher rate for fewer hours. How you choose to structure their pay depends on your budget and needs. Take into consideration that you may need to hire more than one person to fill different roles.
A doing business as name, also known as a "DBA," is a name your business goes by besides the original name. You may be able to save yourself some hassles by using one. For instance, you can use your DBA name if you plan to expand your services and want to sell under another name.
Additionally, a DBA could benefit you if the domain for your current name is unavailable or only available at a high cost. You could then use your DBA name's domain instead. Learn more about registering a DBA here.
Poor marketing is one reason a business fails, and that's the last issue you need with a disability and the responsibilities of parenthood. Fortunately, when you understand the basics of marketing, your business is more likely to succeed.
Always understand your target market. Is it a specific gender or age group? If it is, that's who you need to gear your marketing efforts to. When you consider your target market, you want to determine where they'll mostly find you. It may very well be on the internet or social media. See how 3Envision can help.
In the midst of all the chaos of starting and managing a business, you want to remember to take time for yourself and your family. Take outings whenever you can and enjoy life together.
Business success is obtainable when you know your market and know when to hire help. However, as a disabled parent, you need to make sure you're remembering to take time for your health and your family.
Author Ed Carter, is a retired Financial Planner, who specializes in helping individuals and families living with disabilities. His website offers further insight for those with disabilities.
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