A recent segment of The Today Show addressed the idea that with the economy still reeling and job opportunities less available, many stay-at-home moms—as well as working women—are considering starting their own businesses. The segment included commentary by Donny Deutsch, Chairman of Deutsch, Inc. and former host of the CNBC talk show “The Big Idea with Donny Deutsch,” which offered success stories on the “American Dream.”
Deutsch says stay-at-home moms are the “CEOs of everyday lives; they manage the business of the home.” And it is that business savvy, he says, that allows women to apply those management skills into running successful home-based businesses.
But creating a business is one thing. How do you create a thriving business? According to Deutsch, it is all about being passionate about what you do. Deutsch also offered the following advice to women considering becoming small business owners:
- Open a Storefront. Now is a great time to start your own business as you can create an online store with just a small financial investment.
- Use Focus Groups. Have a great idea for a business? Share it with your friends and family. Those closest to you will be open and honest with you.
- Invest Your Time Wisely. You do not have to quit your job to start a new venture. Set aside just a few hours a day to build up your business.
- Share Your Passion with Your Kids. Many women have started their businesses for, and with, their children. Make your business a family affair and engage your kids in your passion.
Interestingly, direct selling businesses offer all of these opportunities and more. According to the Direct Selling Association, nearly 82 percent of all U.S. direct sellers are women, the majority of whom run their home businesses on a part-time basis.
In most cases, they are provided with personalized websites by their companies, for free, which allows them to communicate with customers and sell their products. Additionally, they are often supplied with marketing materials such as brochures and samples, and are able to begin business immediately with little financial risk.
Sharing products and services with friends and family is a core principle of direct selling, and many direct selling ventures involve the entire family.
As is common, Deutsch and The Today Show entirely overlooked mentioning direct selling as a low-cost way for women to achieve financial success and take advantage of the entrepreneurial skills offered…and share their passions with the world.
To see The Today Show video, click here.