Our Work at Home Life with Jason and Jami: Online Business | Blogging | Working from Home - OWAHL 006: Thinking of going full time with your business? Here are some things to think about!

OWAHL 006: Thinking of going full time with your business? Here are some things to think about!

10/06/17 • 27 min

Our Work at Home Life with Jason and Jami: Online Business | Blogging | Working from Home

Question: "My husband and I would love to entertain the idea of entrepreneurship. While his job is sufficient in providing for us financially, it leaves much to be desired in regard to family life. However, we feel completely stuck at the moment. In addition to a dependable salary, his job also provides excellent insurance coverage for all five of us (dental, medical, and vision). He has a 401k and retirement account that has been funded since he began with the company over ten years ago.

There is a lot to fund financially, and these are all just the basics! How is this done while pursuing entrepreneurship? Are people (entrepreneurs) able to get on top of all these in ways we've yet to discover beyond dependency on a corporate job? Or, are people just going without the future being funded?

Furthermore, how do you fully learn about the local, state and federal regulations and requirements? Registrations and taxes are required of a business.

These are the kind of entrepreneurship questions that are generally not addressed. Having started and managed several successful businesses yourself, what has been your experience in these areas? Have you found any resources that have been particularly helpful? Again, please don't feel obligated to answering anything that may be too personal since these questions do pertain to finances. I appreciate your time in reading and responding to this message."

Getting Started

All this little stuff IS the overwhelming stuff. It's what holds you back. It feels huge and impossible and so scary. And a lot of it we are still figuring out along the way!

If your husband (or you) works a corporate job with a good income, it can be really really difficult to leave. We gave us all of those things when we took the plunge to be self-employed.

Years ago, the security of a corporate job made us feel safe. We needed that. Now we've embraced the freedom in being self-employed AND we've started to view our life as a lot more secure, since our business is up to US, and not a huge company or bosses that could change our fate with a pink slip.

It's a slow process. We built things up on the side first. Jason didn't quit his job on day 1 and then day 2 we tried to figure out an income stream. We tested things out, we built up side income, we knew that with more time and attention dedicated to the business, we could make more money.

So yes, there is a LOT to consider and a lot of different pots that money needs to be funneled into, but those things are simply coming from a different income source. At your job, medical, dental, retirement, etc all comes out of your paycheck. It's just all done for you, BEFORE you see the money and somehow that feels a lot less painful.

So these are all things to keep in mind when considering the jump! But it is doable. Millions of people are self-employed and figure it all out :)

Taxes & Regulations

Personally, I think this was the biggest headache trying to figure out. We had to figure out taxes, what kind of company we needed, did we need a business license, what forms need to be filed, etc.

LegalZoom.com was a huge help to us in the beginning! Because every state (and country) is so different on taxes, regulations, and companies, it's impossible for me to give any advice on how to get started with this.

They have sections that explain all the different companies you can form from an LLC, to a partnership, to a sole proprietorship and more. We landed on needing to form an LLC and then we were able to file the paperwork with LegalZoom! They help you to file the correct file for your state and everything!

Our next negotiable suggestion:

Hire a CPA in your state. We have an amazing CPA who specializes in small business and we don't know WHERE we would be without him. When we get a tax form, or want to try something new, we run it all past him and he tells us what to do.

For what we do, we need someone who is very familiar with online business and our forms of revenue. Our CPA is amazing he helps us with all of that. Yes, it costs a little bit to have him handle all of our taxes but it is WELL worth it. He has walked us through everything.

Medical, Dental, and Vision

Yes, this is another headache. And again, this depends on what state you live in.

We ended up with a sharing company. Medishare.

Dental and vision not worth it. So we pay out of pocket.

Savings & Retirement Accounts

These are all totally doable, but you just need to do a little work to get them set up. We are actually in the middle of setting up these accounts. But again, a good CPA can help with that!

Furthermore, how do you fully learn about the local, state and federal regulations and requirements? Registrations and taxes are required of a business.

Getting Started

All this little stuff IS the overwhelming stuff. It's what holds you back. It feels huge and impossible and so scary. And a lot of it we are still figuring out along the way!

If your husband (or you) works a corporate job with a good income, it can be really really difficult to leave. We gave us all of those things when we took the plunge to be self-employed.

So these are all things to keep in mind when considering the jump! But it is doable. Millions of people are self-employed and figure it all out :)

Taxes & Regulations

Personally, I think this was the biggest headache trying to figure out. We had to figure out taxes, what kind of company we needed, did we need a business license, what forms need to be filed, etc.

Our next negotiable suggestion:

Medical, Dental, and Vision

Yes, this is another headache. And again, this depends on what state you live in.

We ended up with a sharing company. Medishare.

Dental and vision not worth it. So we pay out of pocket.

Savings & Retirement Accounts

These are all totally doable, but you just need to do a little work to get them set up. We are actually in the middle of setting up these accounts. But again, a good CPA can help with that!

Previous Episode

OWAHL 005: How to launch a product: Launch Week!

On the podcast this month we've been talking all about product launches. We covered the big picture overview of how to launch a product, how to work with affiliates to help sell your product, and creating a free offer for your product launch.

If you haven't worked your way through those episodes yet, then back up and go through those. They will give you a very solid grounding before heading into this episode.

Today we are going to be covering Launch week! You've done all the prep work to launch your new product, now it's time to actually launch it! Here's everything to need to craft a successful launch week.

Launch Your Product

A typical launch period for us is 5-7 days. Anything shorter than that and it's hard to build momentum. Anything longer than that and it's hard to keep up that momentum.

If you listened to episode #4 and are creating a free opt in offer for your product, then a good option is to be in "sales" mode for one month. Spend 2-4 weeks spreading the word about your free opt in to boost engagement and get new readers, and then actually launch your product in 5-7 days.

A typical sales week:

We've played with this schedule and tweaked it a lot over the years. It will probably keep changing as we learn and grow, but here's what we typically do in a launch week.

Day #1: Cart Open

On day #1, the first thing you want to do is check all sales pages and links, a couple of times. The worst thing to happen would be people showing up to your page, unable to check out! So check, check, and double check that it's all working properly.

Then once you know it's all working, you can send out your initial CART OPEN email! This can be short and sweet and simply let people know that your new product is for sale.

I'm a fan of doing a short and sweet email for this (although you can do a longer sales email with all the info) because I think people are initially interested and will pop over to see what it is.

At this point, I would also publish a full blog post with all the details to share on Pinterest, Facebook, social media, those who follow you via RSS feed, etc.

I would also consider doing a Facebook/Instagram live video. The first day is so full of excitement that now is a good time to jump on and share that your new product is live and available!

Through your week: using evergreen content to sell

I know that not everyone on my list or in my audience will be interested in buying this thing. So while I do want to push the sale hard, I also want to acknowledge and not burn out that audience that has no intention of buying this product.

Evergreen content is simply blog posts, podcasts, and other content that is related to your product but that will still live on once this promotion is over. For example, if you are sharing a brand new cooking course, then doing some evergreen content revolving around your favorite cooking accessories, or simple meal planning tips can become great content to spread around that also includes a pitch for your product.

Bonus: It gives you a really good non-salsey excuse to reach out to your audience, share on social media, and send follow up emails! You are simply providing more good, related content!

Throw a Facebook Party

I do about 2-3 Facebook parties a year. They do a couple of things: 1) it raises awareness for my product launch 2) it helps boost my Facebook feed all week and 3) my audience LOVES it and is an amazing way to build up my community. I get requests all year asking when my next FB party will be!

Here's how to throw a Facebook party:

1) Set up a FB even on your page

Set this up and start inviting people to the party 1-2 weeks in advance. Ask them to RSVP on that event page so they get notified when the party starts. Share about the party on other social media, your blog, and via email.

2) A typical party

My typical party is usually 2 hours long. I do mine in the evenings because most moms can participate better when kids are in bed. I tend to post every 5-15 minutes through out the party.

I usually have 6 giveaways throughout the party, 3 each hour. I usually give away a few digital giveaways but I try and make them physical products as often as I can because people get more excited about physical items.

My focus in the party:

My focus throughout the party is on serving and loving my readers rather than selling. It's a time to build up commun...

Next Episode

OWAHL 007: Developing a Social Media Strategy for Growth

Some of the most common questions I get are about social media. Which social media you should be using, how this fits into the larger picture in your business, etc.

Social media is constantly changing and so is my strategy. But in today's episode I am going to briefly share my own personal social media strategy for our full time business over at Young Wife's Guide.

My Social Media Strategy Facebook

Facebook has over 1.8 billion monthly active users. If you are looking for an audience to reach, they are on Facebook! Yes, Facebook organic reach has been down but if you are strategic with it, you can still reach your ideal customer or reader through Facebook.

Difference between your Facebook profile and a Facebook page

This is one question I've received several times. Your Facebook profile is your personal Facebook account that you set up. My personal profile is just for my friends and family that I know in person. I don't add anyone else to this account.

This way, I still have privacy online. I can share posts about my kids, local places we are going, etc. It's where I personally keep up with my friends and family. It's personal, it's for me! I rarely, if ever, post my blogging stuff to this profile. (Not that it's wrong to do so, but I don't want to spam my friends and family. That's not the purpose of that Facebook profile.)

But my Facebook page is where I do all my business stuff. This is at: Facebook.com/YoungWifesGuide. This is where I post all my blogging stuff and where my "fans" can follow me. You want to set up a Facebook page.

Our Facebook strategy:

My strategy on Facebook is to build community and generate new leads. I want my Facebook page to be a bright spot on Facebook for my readers and I want to provide quality content and things I'm sharing.

So I follow the 80/20 rule (for the most part). 80% of the things I post on my Facebook page are other people's content. Blog posts and articles that I find interesting and that I know will be helpful to my readers that someone else wrote. These are NOT links back to my own blog. 20% of what I post are blog links back to my blog or a product I'm selling.

We tend to follow a schedule of posting 6-10 times a day. Typically about every 2-4 hours throughout the day. I know this might sound like a lot, so if that takes way too much time right now, then just start out with posting 2-3 times a day.

The key is, Facebook rewards consistency. So post consistently. Don't post 10 times today and then not again for a week. Post just once a day if that's all you have the capacity for, but try and keep it consistent.

Another helpful tip: We schedule all of our Facebook posts inside of Facebook. We do not use a third party scheduler (like Meet Edgar, Buffer, or Hoostuite). Facebook wants you to stay inside Facebook so they reward you with more views if you schedule directly inside Facebook (and hey, it's FREE)!

Pinterest has 110 million monthly active users and is growing daily. As a woman (and especially as someone who blogs about homemaking related topics), Pinterest is the place to be! Side note: Yes, Pinterest organic traffic has heavily reduced the last two years or so and I no longer believe it to be the best or more reliable source of traffic.

It is consistently our #1 source of traffic and has been for years. Pinterest is not a platform however where I am trying to build up it's own community. It's more of an extension of how I can serve my community.

I think of my Pinterest account as a place where I can curate and collect all the very best Gospel-centered homemaking tips, tricks, articles, tutorials, recipes and more for my readers.

Again, I follow the 80/20 rule. I certainly pin a ton of my own blog posts but I also try and pin other people's content about 80% of the time.

Our Pinterest Strategy:

We use the TailWind App to schedule a ton of our pins. We've been using it for about a two years now and LOVE it. It allows you to schedule pins, see analytics of what's working well, find other pins that are popular that you can pin and more.

You can try out a FREE month of TailWind if you sign up through my link. This is what I did. I tried out a full month, really committed to using it and was hooked right away. If you decide you love, it's only $9.99 a month after that. This is extremely affordable compared to many social media schedulers that are $49.99-79.99 a MONTH!

This is the only social media scheduling website or app we pay for, so $9.99 a month isn't too bad of an investment! It saves us hundreds of hours over a course of a year and has really...