Bookmark and Share

Stay-At-Home Mom, Six-Figure Salary

By JESSICA DICKLER, CNNMONEY.COM STAFF WRITER
Posted: 2009-07-02 14:24:18
Mother with kids
Corbis
CNNMoney.com

When job openings are few and far between, some are finding the best road to employment is starting their own business.

NEW YORK (CNNMoney.com) -- Desperate for a job? How does CEO with a six-figure salary and flexible hours sound?

With fewer jobs available and more people feeling shut out of the labor market, many would-be 9-5ers chose to go out on their own.

Challenging economic times can encourage entrepreneurial capitalism, according to a recent study by the Ewing Marion Kauffman Foundation. More than half, or 51%, of the companies on the Fortune 500 list this year began during a recession or bear market or both, according to the study.

And while it may be difficult to get off the ground, some start-ups are flourishing in the current economic climate.

Julie Trade became her own boss after her husband was laid off in 2007. With a background in marketing, the former stay-at-home mom, 40, launched her own marketing communications business from a spare bedroom in Scottsdale, Ariz., drafting advertising and press materials for her clients.

Since her husband struggled for nearly a year to find another full-time job and they had a young baby, "I figured the best solution was to work from home."

Trade thought she could earn a little extra cash for the family while her husband searched for a new job. But as the recession worsened, her business began to take off.

"I thought I'd get a couple of clients to make ends meet while he was looking for work," she said. "But what happened was my business kind of went crazy."

Trade got up to speed on email and IM and learned about new marketing techniques, such as search engine optimization.

"I started to think about ways I could offer a variety of services, learn new technologies," she said. "I found ways to make myself appear larger than just a stay-at-home mom in a back bedroom."

Soon she was writing press releases and ads for established companies including British Telecom and Argent Software. "Companies that I never thought in a million years would need my services suddenly did. I was a cost effective source," she explained.

Now Trade logs 40 hours a week, mostly between the hours of 4:00 a.m. and 8:00 a.m. plus evenings and weekends, while her sons, ages 2 and 5, are asleep. "During the day I'm still a stay-at-home mom," Trade said.

That's a stay-at-home mom with a six-figure salary.

Trade estimates that she now makes twice what she did when she was working full-time before having children.

Stepping out on your own
The worst job market in 26 years may be the perfect time to start a business, according to Tim Kane, a senior fellow in Research and Policy at the Kauffman Foundation.

"It's very easy to waste half a year on a job search," he said. "Whether it's a good time to start a business depends on your personal situation. It's a great time if you've always wanted to start a company and you are stuck in a job search."

Because of the increased flexibility in terms of scheduling and location, working for yourself is a particularly "viable option for women who want to work and raise kids," according to Victoria Colligan co-author of "Ladies Who Launch: Embracing Entrepreneurship and Creativity as a Lifestyle."

Thanks to tools like social media and email marketing, entrepreneurs can build relationships online and reach many prospective contacts and clients.

But before venturing out on your own, Colligan suggests "side launching" for starters. If you are already employed, "don't quit your day job," she said.

Last year Fresia Rodriguez, 32, side-launched Kingley&Posh, a plus-sized women's fashion label while she was still employed as a magazine journalist in D.C.

Rodriguez says the business is forecasting a profit after the fall season. The first collection, due this fall, will be represented in about a dozen boutiques nationwide.

"When you start a business it always takes longer than you think to become profitable," Colligan said. "Plan for at least 12-18 months for laying that foundation."

Also, be prepared for the hefty start up costs that are often required to get a business off the ground -- although marketing businesses like Trade's generally have lower overhead and less risk, she said.

For those with greater initial costs and little funding, consider creative ways to finance your venture, Colligan suggested. "People will work with you in exchange for revenue sharing, partnerships, bartering and trade."

Rodriguez, for example, offered up her writing skills in exchange for accounting services. She also negotiated for a custom Web site and printing services.

"Creativity is at an all-time high," Colligan said. When it comes to the traditional rules of starting a business, "people are willing to think out of the box."

Read updates on the people previously profiled in Hired! Join the Hired! group on Facebook.

2009-07-01 18:21:17
Bookmark:

Recent Comments

1 - 10 of 147
147 comments

vaughn2267 10:48:34 AM Nov 01 2009

WWW.VTSFREEBIES.COM

vaughn2267 10:45:42 AM Nov 01 2009

I HAVE MY OWN DOMAIN LOOKING TO MAKE IT WORK FOR ME ,HELP!!WHAT ALL CAN I DO WITH IT?WWW.VTSFREEBIES.COMVAUGHN2267@AOL.COM

vaughn2267 10:42:35 AM Nov 01 2009

i have a website i need help starting a businesswww.vtsfreebies.comwhat can i do with it?,my emails vaughn2267@aol.com

bwealthyforever 04:18:49 PM Oct 14 2009

www.yourrichescometrue.com

tb00000020207854 09:19:54 AM Oct 11 2009

Would you like to try a homebased florist business? Read my free blog at http://homebasedflorist.blogspot.com

ladyofthemanere 09:56:55 PM Sep 24 2009

There is a GREAT company that has been in business worldwide for over 24 years! I have been with this company for 10 yrs. It has had exception growth during this economy. There is NO BULL, NO FRILLS, NO INVENTORY, NO TERRITORIES, NO DELIVERY, NO ORDER TAKING, NO ORDERING CATALOGS!! Work part time or go full. It is your choice! Residual income is a must. Better health, Better environment. Achieve your goals of financial security!www.enhancedlives.info, www.path2wellness.info, www.gainfreedom.info...

srzsports 05:47:15 PM Sep 21 2009

Buy a sports team or become a partner in one and that will help! Not only does it supply jobs for others but allows you to provide entertainement and make some money along the way.

bandd5761 01:52:27 PM Sep 14 2009

www.aprioribeauty.com/fic/diana

chandler876543 11:08:33 PM Sep 09 2009

heck i would like the stay at home mom from scottsdale send me an email. I would like to know more. I think that is a wonderful thing to start something at home in the bedroom.

your8787 11:40:17 AM Sep 09 2009

enhancing educational products for adults and children.The seventy three volume portfolio of audio's, video's, and e-books onwealth and self education improvement are marketed through an elite groupof independent distributors throughout the world.You could have your own business distributing for them as well.You would be in business for yourself, but not by yourself.When you request more information on this exceptional distributingbusiness operated from home and the proven income system, combined with a exclusive continuing education in Wealth and Self improvement product, I will show you all the confirmed and verified information on our publisher, myself and the system.Douglas RyderGlobal Director of Distributorswww.dreambudget.com1 -877-678-7575comment here

1 - 10 of 147
147 comments

Add your own Comments

The Startup

The Startup

The Startup, the web's premiere online reality show for small business owners, is back for its third season! Watch as we follow four entrepreneurs to see how they're making their businesses come to life.

  1. The Startup

    Small Business Checklists

    It can be difficult to keep up with all the details involved in running a small business. Don't lose track of the details -- use a checklist to keep yourself organized.

    1. Checklist: Starting a Business
    2. Checklist: Closing a Business
    3. Index of Small Business Checklists

      AOL Coaches

      Jake Steinfeld

      Business Coaches
      Starting your own business can be a daunting task. With AOL's Small Business Coaches, you can get the best advice to guide you through the process.