Managing a business with a newborn or baby on the way is one of the biggest questions for soon-to-be moms business entrepreneurs. As a business owner’s new mom, you may find the overwhelming as your end of maternity leave approaches. This case study may help you identify the challenges in the process and methods you can use to overcome those hurdles.
The Challenges of Balancing a New Baby with Your Business
Yes, you may be buzzing with the thought of going back to your office and starting steering that ship all over again. However, the sadness or guilt of leaving your newborn baby at home or in someone else’s care can add to the stressful decision-making of whether to get back to your business or spend a few more weeks with your baby.
Ideally, you would want to run a tight ship at your business and give your baby all the love you have to give; it is harder than you may think. Many working parents have found themselves on the same crossroad you are at but also learned how to navigate through this tricky terrain without guilt or sadness.
Methodology to Ace the Balance between Your New Born and Business
First, remember that you are not doing anything wrong by going back out there. Many parents before you have experienced the same frustrations and concerns as you do right now. Yes, it is going to be tough, but with a little bit of persistence and planning, you can find the right balance to nurture your child while running your business.
Devise a Plan
You must have a closer look at your work schedule and see if you can squeeze it all in one slot to spend the rest of the time with your new baby. This will also help you give your babysitter or caregiver an early up-to-date rota for when you need them to look after your baby.
A Cordial Relationship with the Caregiver
Want to alleviate the guilt and sadness of going back to your business? Well, find the best childcare you can for your child. It can be a nanny or a big daycare center. That said, no matter which one you decide, always do some research, get recommendations and interview the nanny or caregivers at the daycare facility.
It would be a great idea to put some legwork in and check the references. Also, ask the caregivers about the immunization records. Another way is to drop by unannounced to see how the caregiver is doing when you are not there.
Befriend the caregiver to share an emotional connection so they can share daily reports with you about how the day is going so far at home.
Divide and Conquer
Sharing business and parenting responsibilities with your partner will not only give you peace of mind but also take the guilt away from your baby being without a parent.
A Backup Baby Sitter is a Great Idea
Sometimes even the most carefully thought plan can fall through, such as your nanny not showing up due to sickness. In this care, you will have to think smart and always have a home caregiver available on a standby basis.
Less Admin More Babe
All business owners will be filing taxes at some point in the year. However, with fewer expenses due to caring for a newborn baby, you will have smaller bank statements to sort out personal and corporate expenses. Lesser administration work will give you more time to spend with your baby.
Protecting Your Personal Assets with LLC
As a parent, you should ensure to safeguard your baby’s interest by keeping your personal and business financial affairs separate. Creating an LLC can help you protect your personal assets against your business liabilities. This way, lenders going after your business will not be able to claim damages from your personal assets.
Setting up Emergency Funds
You must create an emergency fund such as a savings account and use this money to maintain healthy cash flow for your business while you focus more on your baby and less on production or sales etc.
Maintaining a balance between a new baby with your business may sound daunting. However, you must enjoy the exciting swap of roles from parent to an entrepreneur and back to being a father or mother to a newborn. If you find it too overwhelming, you can always seek support from a new parent support group or deal with your business better with the help of a financial advisor or business partner.