The good news is that now is the perfect time to work from home. Thanks to technology, there are more opportunities than ever for moms and dads to telecommute or start a home-based business.

And you can do it without compromising your ability to parent. Below, we share some practical advice and ideas for earning extra money as a stay-at-home parent!

Finding Work

These days, working as a freelancer is more accessible than ever before. Whether you want to launch a full-fledged business or earn a little extra money through a side gig, there are ample opportunities for finding work.

Other than asking around your personal and professional network for potential clients, the best way to freelance gigs is to use online job boards. There are many job boards; you shouldn't have trouble finding one that works for your specific niche and needs.

For example, if you have experience in information technology (IT), FlexJobs is one of the top platforms for connecting you with potential clients. ProBlogger and Freelance Writing Gigs are excellent options if you are a writer.

Fiverr is one of the most popular job boards, and it is conducive to people who have never hunted for freelance gigs before. And one of the best overall job boards is Upwork; this platform makes it easy to connect with potential clients across a wide range of industries and specialties.

Setting Up a Business

There are many advantages to turning your side gig into a business, but it requires a lot of preparation and work. Here are a few things you will need to take care of early in the process:

Establish a Legal Structure

One of the first tasks to complete is choosing a business structure. Many entrepreneurs form an LLC because it is more flexible and requires less paperwork than establishing a corporation, and it provides liability protection and pass-through taxation. Before setting up your LLC, research the regulations in your state to make sure you don't miss anything.

Write a Business Plan

Another step to take is to draft a business plan for your new company. You can find tons of templates online to get started, but it's critical to start thinking about the components of your business plan even before you write it.

Determining what will go into your plan will also help you strategize the future. Here are some essential elements of a solid business plan:

• Executive summary
• Mission and values
• Description of product and service
• Target audience
• Marketing strategy
• Financial forecasts
• Funding requirements

Your business plan will help you make essential decisions to launch and grow your company. It will also help you secure funding from investors (if that is something you ever need to do).

Build Your Brand

Your brand is what you will promote to the public, and it is best to start developing your brand well before you launch your business. Choose a catchy business name with an available domain that reflects your company's offering .

Then, create an attractive logo and choose the primary colors, fonts, and designs that you will showcase on all of your digital and print marketing materials. You can create your own logo at no cost when you use an online logo maker, which allows you to modify existing templates to your own brand.

Once you have a basic branding package, build a website that sets your business apart from competitors. While you can use a website builder to create a site, it’s best to hire the skilled web designers at Red Goose Design & Media to create an eye-catching and functional site. If you have minimal experience, building your own site can consume a lot of time that you could otherwise use for other critical aspects of your business.

Once you have a website to which you will direct all of your marketing, start promoting your brand through any online outlets that can benefit your company. Engage your target audience on social media and through email marketing, paid ads, affiliate marketing, and any other channels your audience is likely to use.

If you are catering to the local market at any level, consider investing in business cards, brochures, and other print materials that you can leave at other businesses and public spaces around town. You will also want to keep your business cards handy for networking in your community and beyond.

Invest in Accounting and Bookkeeping Software

When it comes to running a successful business, bookkeeping is an essential part of the equation. In the past, businesses would keep track of their finances with paper and pencil, or sometimes with a simple spreadsheet. However, as businesses have become more complex, manual bookkeeping has become increasingly impractical. That's where bookkeeping and accounting software comes in. An easy to use bookkeeping system helps businesses to automate the process of tracking their finances, making it more efficient and accurate. In addition, bookkeeping software often comes with a variety of features that can help businesses to manage their finances more effectively. For example, some programs can generate financial reports, or help businesses to track inventory levels.

Job/Business Ideas

As discussed, many different jobs and businesses are available to stay-at-home parents. Below are some tried-and-true ideas worth considering that can help you supplement your income while allowing you to balance your parenting responsibilities:

Online Craft Store

You can make money by selling your creations online if you are crafty. Create a budget that includes all of your startup costs (e.g., website creation, craft materials, marketing, etc.), and build an online store to sell your goods.

Whether your specialty is homemade jewelry, art, textiles, clothes, accessories, or any other type of craft, you can also find online marketplaces to use as your platform.

Dropshipping

Another option for ecommerce is to start a dropshipping business. Essentially, you create an online store and sell other manufacturers' products.

When a customer purchases an item from your inventory, the distributor ships the item directly to the customer. You don't have to keep a physical inventory, and when you approach it with the right strategy, you can make a serious profit over time.

Foodservice

If you are talented in the kitchen, you can supplement your income by selling your goods for parties or a la carte purchases. Whether a cook or a baker, you can package and sell your creations through your own online store, a third-party marketplace, or a local shop. Many caterers , bakers, and cake designers succeed with this business model while working from home.

Writing

For many stay-at-home parents, this is perhaps the perfect job. If you are skilled in writing, editing, or proofreading, you can quickly land work in various industries in a part-time, full-time, or freelance capacity.

Whether you want to publish pieces under your name or ghostwrite for other companies and individuals, opportunities abound because writers are in high demand. Here are a few different writing niches worth considering:

• Blogging
• Copywriting
• Content writing
• Proofreading
• Ghostwriting for book authors
• Resume writing
• Recipe writing

Virtual tutoring

If you need to supplement your income or activate some of your work skills, you live at the right time. The web and other technologies make it possible to work various jobs or start businesses without ever leaving your home. Consider the information and advice above, and keep researching different ways you can prepare to make money while remaining a top-notch parent.