How To Make Money While Pregnant And Unemployed


Pregnancy brings along a range of emotions, and you are at the top of the world thinking about bringing in a new life and mixed feelings about whether you will be able to maintain your lifestyle work-wise. In addition, the joy of motherhood can get disrupted by financial worries, especially if you are unemployed.

But let me tell you that it is possible to be a business owner without having tech skills and become a mother at the same time. All you need is determination and time management; even if the circumstances seem overwhelming, you may strike gold without the need of hiring a startup consultant. In the end of this article, you should have lots of ideas on how to make money while pregnant and unemployed.

Become A Solopreneur

A solopreneur is someone who runs their own business. They are self-employed and run their company without any help from others. A solopreneur can work from home, but they may have employees that assist them.

The great news for expectant mothers is that you can be your boss. But did you know that being an entrepreneur, a freelancer, or a solopreneur is the future of work. So let's embrace the challenges with a positive mindset to get a lasting reward. There are numerous advantages of being a business owner or a solopreneur and making money on maternity leave, such as:

Working Flexible Hours

This means that you can schedule your work accordingly while focusing on prenatal care. So if you had a sleepless night, you could adjust your work timings the following day.

Quality Time With Family

Unlike a 9 to 5 job being a solopreneur enables you to spend quality time with your family. You can work remotely and manage to take out time for all the special moments.

Power To Reject

Saying no to an assignment in the corporate world can cost you your job, whereas being a freelancer gives you a choice to accept what you can deliver and reject what you cannot do.

Strategies To Manage Your Solopreneur Move

Strategies To Manage Your Solopreneur Move

Create A Budget

While some of you might not have thought about it, creating your budget can clarify many aspects like the existing expenses and a post-delivery expense forecast. This would enable you to think through how much effort you need to put in, the sources of earning extra income, and the time allocation.

Think Of A Backup Plan

Pregnancy could be very unpredictable in terms of your body conditions. You might be advised to bed rest and not be able to work for some time. So you need to plan ahead to be able to streamline your finances during the pregnancy.

Work On A Timeline

Once you have created a budget and thought about what is working and not working out for you, give yourself a deadline to achieve your goals. But don't be too hard on yourself and know when to take a step back for your health and your unborn baby's health.

Communication Is The Key

Be it multi-billion dollar companies or solopreneurs, communication is a key factor behind the success of a reputable company. You need to be open with your clients about what expertise you can bring to the table in exchange for money and your capacity to work as an expectant mother.

Cost Of Child-Bearing In The United States

Cost Of Child-Bearing In The United States

The U.S Government offers financial assistance to pregnant mothers and has initiated several programs like the Temporary Assistance for Needy Families (TANF) program for low-income families. However, according to research, the real cost of having a baby in the United States is $11,000 for an uncomplicated pregnancy and having insurance coverage. Without insurance, the costs can approximately $30,000 - $50,000.

This is not all, the cost of prenatal care ranges from $30,000 without health insurance, and for a C Section, it hypes up to $50,000. If we break it down further, the cost per visit is $90-$500. To make things more difficult, each lab test could cost up to $100. The costs are really high, which is why it is also good to consider learning how to make money while pregnant and unemployed.

Programs Offering Financial Assistance For Expecting Mothers

Programs Offering Financial Assistance For Expecting Mothers

Pregnant mothers are also required to see a dentist regularly to avoid gingivitis. The rules vary from state to state for the dental care of expectant mothers. While each state offers insurance for dental coverage as well, it still is an expense to deal with.

Although there are different programs offering cash assistance to families and initiatives from the local health care department to help keep the mother and baby healthy. Despite the financial assistance, you need to have extra money to cover all the unforeseen expenses.

Tips To Make Money While Pregnant And Unemployed

Let's look into several ways to make money while being at home and prepare yourself for all the happy moments and blessings. First, you can choose between what source of income to adopt for generating extra money.

Become A Virtual Assistant

Become A Virtual Assistant

A virtual assistant (VA) is a person who works remotely from home using technology to provide customer service and other administrative tasks. VAs are used by businesses to handle various clerical work that would otherwise require hiring additional employees.

Let's look into some of the hundreds of services virtual assistants offer:

Marketing and Sales Campaign

Plenty of people would hire virtual assistants to utilize the company's information and resources to create social media posts, run marketing campaigns, schedule appointments, follow up on tasks, keep track of projects and make sales. In addition, you can help a reputable company plan events and brainstorm ideas.

Customer Service

Customer service is the act of providing customer care services to customers. This includes answering questions, resolving problems, offering advice, and solving issues. A virtual assistant can help your business offer better customer service.

If you have strong communication skills, you can easily handle phone calls, emails, chats, text messages, etc. Next, you need to look for a reputable company through a search engine and apply as a VA, the application process might take a few weeks, but you are sure to find something.

In addition to providing services to clients, VAs can also use their skills to make decent money online. They may offer freelance services like:


You can also make extra money by transcribing an audio file into text. For example, you could transcribe Podcasts or any other type of audio file. All it takes is listening and fast typing skills, and you do not require any experience to get started with this job. Do a quick search for transcription jobs and get started right away. You will have to undertake a simple onboarding process to let you start transcribing.

Web Design

If you have a command of programming languages like JavaScript, HTML, etc., try offering web designing services to clients. Utilize your art of creating visually appealing websites and easy to navigate. You can design the layout, colors, fonts, graphics, etc.

Graphic Design Skills

Among hundreds of services you can offer as a Virtual Assistant, you can use your graphic design skills for a company website. These may include designing logos, buttons, banners, icons, etc.

Video Editing

A good editor should have the ability to cut out unnecessary parts, add transitions, and combine multiple files into one. So take up video editing projects to earn extra cash when the baby comes out of your womb.

Social Media Management

In this era, online presence is equally important for one-person blog owners or multi-billion dollar companies. Both require people to manage and handle social media accounts and platforms.

Becoming a virtual assistant enables you to build a positive online reputation for a reputable company. You can help social media accounts, schedule posts, and create content. You can also set up email campaigns, track conversions, and analyze data.

Data Entry

Data entry jobs require entering information into a database or other computerized system. They can include any number of different tasks, from entering names and addresses into a contact list to creating spreadsheets and databases.

According to, a Virtual Assistant can earn anywhere between $10-$26 per hour based on their skill level and experience, and the average annual salary for a VA is about $34,000. While some people prefer working from home, others enjoy being able to travel and meet new people. So let's comprehend each field to unveil the possibilities of earning some extra cash.

Sell Your Knowledge

Sell Your Knowledge

Freelance Writer

Freelance writers work independently from a company or organization. They are self-employed and work on projects that they choose themselves. A freelancer can write about anything they want. Some freelance writers make money through advertising revenue, while others may charge per word or project.

Advantages Of Freelance Writing For Expectant Mothers

  1. Pregnant mothers can work at their own pace during pregnancy and after giving birth.
  2. You can make decent money while working flexible hours.
  3. You can get paid to write about something that you love. Turning your passion into a legitimate income option
  4. You get to meet new people and build connections.
  5. You get to travel.
  6. You get to learn new things and work for many companies.

Since content writing has gained popularity and is an important part of all websites, new and fresh ideas are always in high demand. Writing blog posts could get you the extra cash you need if you get unpaid maternity leave. You can create some good content in exchange for money.


Having video skills is not common among business owners. Expectant mothers having creative video-making skills can do wonders while working remotely. You can create catchy content of high quality through the following basic video skills:

  1. Thorough content research skills
  2. Understanding of the social platform
  3. Skills for video editing
  4. Creating an online presence

Your video-making skills can help you earn money faster while proving an asset to the company. Companies require video skills to quickly get the message across to the target audience.

Life Coach

A life coach is someone who helps people improve their lives. They help clients identify what they want out of life, set goals, and develop strategies to achieve those goals. A life coach can help you make better decisions about your career, relationships, finances, health, and even spirituality.

Advantages For Unemployed Mothers

1. You can help others improve their lives.

Life coaching helps people achieve goals they may not have thought possible. If you have a corporate background, you can work with clients to develop strategies that lead them toward achieving their goals. They can identify areas where clients need improvement and then provide guidance and resources to assist them in reaching their full potential.

2. You can make money helping others.

A career in life coaching can get you plenty of money to welcome your baby. Employment prospects for life coaches are predicted to grow by 29% between 2012 and 2022, according to the Bureau of Labor Statistics (BLS). In addition, the BLS projects that demand for life coaches will increase at a rate faster than average due to increased interest in personal development.

According to another survey by BLS, the annual income for life coaching is about $61,900.

3. You can use your knowledge and experience to change the world.

There are many ways in which life coaches can positively impact society. Some examples include assisting individuals who struggle with mental health issues, providing counseling services to those dealing with divorce or other family conflicts, and teaching self-improvement techniques to children.

4. No Formal Requirements

The best part about being a life coach is that no formal training is required. Life coaches help people improve their day-to-day lives, careers, and relationships. Convert your skill into a money-making skill to save enough for your delivery.

Fitness Coach

A fitness coach is a person who helps people improve their fitness through exercise and nutrition. You could use it as a money-making skill by teaching the fitness regime and yoga postures you follow for your prenatal care to others. However, it is advisable to consult a doctor before changing any exercises.

So if you follow a routine that others notice and ask you for advice, become a health coach. Being a health coach, you can help people make positive changes in their lives that improve their health. In addition, you, as a health coach, can help others achieve their fitness goals and overcome obstacles. You do not need to be a medical professional; follow your passion for helping others live healthier lifestyles.

Parent Coach

Unemployed mothers having strong communication skills can opt to be a parent coach who helps parents raise their children. Parents are often called upon to help other parents raise their children, so why not grab it as an opportunity to bring in the baby with plenty of money in hand? This can include helping children with homework, teaching them how to behave, and even providing advice about what they should do.


Freelancing allows you to work from home and set your hours. You can take on different projects depending on what you feel comfortable doing. There are many ways to make money online. Some people choose to work full time, but others prefer to work part-time. Whatever works best for you, remember that you need to find something you enjoy doing. As long as you are making money, you are not working too hard.

Freelance Bookkeeper

Bookkeeping is the process of recording financial transactions that occur between two parties. This can include cash, checks, credit cards, debit cards, online payments, etc. A bookkeeper's job is to ensure that the accounting records are accurate and up-to-date. They may also prepare reports about the company's finances and make recommendations regarding how to improve business practices.

Suppose you have the skill to reconcile bank accounts, strong communication skills and are comfortable with bookkeeping software such as QuickBooks Online or Xero Accounting Software. In that case, you stand a chance to make plenty of money before you give birth.

If you're interested in becoming a freelance bookkeeper, do a quick search on LinkedIn. You'll find many opportunities posted by companies looking for help. Once you've landed a freelance bookkeeping position, you can work your way to earn a decent amount by the time baby comes into the world.

Freelance Graphic Designer

A freelance graphic designer is someone who works independently from a company. They are self-employed and do not have any employment contracts.

If you know, the skill can opt to be hired as a freelance graphic designer. Work for multiple clients at once and charge different rates for each project.

Freelance graphic designer often uses social media sites like Facebook and Twitter to promote themselves. Plenty of people would hire a freelance graphic designer based on recommendations from friends and family members.

Embrace The Internet

Embrace The Internet

Online Marketplaces

Pregnancy is a time when most women feel isolated from the outside world. So make use of the internet to showcase your craftiness. You can sell things you have created and make money on maternity leave. Several online marketplaces and websites help you find customers. For example, Etsy is a platform to display your homemade crafts. So grab on this opportunity to generate extra money.

Facebook marketplace allows you to sell anything you don't need anymore, such as your old television, out-of-size clothes or decorations, etc.

Online marketplaces are great to sell what you have. Still, they also offer you additional benefits during pregnancy, such as shopping for products while staying at home and finding discount deals that would not normally be offered to them in stores.

In the United States, a few online marketplaces sell free stuff for infants and babies, such as baby clothes and diapers, etc.


Blogging can be used as a way to make extra money while pregnant. You can use your blog to write about pregnancy; this could include products you would like to try while pregnant. Else you could write about anything you are passionate about or even choose a particular niche to write informative articles.

Once your viewership increases, you can post ads related to your blog. Try placing affiliate links in your blog to receive an amount every time a reader clicks on the link. You could be among the one-person blog owners ready to welcome their baby with plenty of cash in hand.

Cashback Apps

Cashback Apps are websites that offer users a way to earn money back from their purchases. They do this through affiliate marketing, where they get paid commission based on sales generated by other companies' products.

All you need to do is use reliable cashback tools to make money faster.

Advantages Of Cashback Apps For Expectant Mothers

  1. Cashback apps are a great way to save money while shopping online. They allow users to earn rewards for their purchases. These reward points can be redeemed for gift cards, discounts, or cashback.
  2. Pregnant women often have to buy products for themselves or their babies. This includes diapers, maternity clothes, and other items.
  3. Many cashback apps offer rewards for buying these types of products. You can earn anywhere between 1-5% cashback on your purchase.
  4. Some companies even offer rewards for using certain services. For example, if you use Uber you can get rewarded with cashback.
  5. If you're looking for ways to make extra money while pregnant, consider signing up for cashback apps.

Using cashback apps is a money-making skill that helps you earn money on maternity leave.

Online Tutor

For an extra source of income, try hour tutoring. If you have been an exceptional student and know a particular subject well, convert it into a money-making skill. You can offer hour tutoring to people online or become a tutor in person. Did you know through VIPKID, you can get a chance to make around $20 per hour tutoring?


The United States government takes several financial assistance initiatives through which funds are granted to the federal government and further divided between states and county agencies. In addition, low-income families can get child benefits and register for various income support programs.

However, not all maternity expenses can be met with these programs. Therefore, it's always better to have a backup plan and save plenty of money during your pregnancy to have sufficient when the baby is born. If the list still leaves you with questions, you should consider chatting with a startup coach or startup consultant. They can help find the perfect job for you.

So don't get worried about being unemployed and pregnant; you can choose from any of the side hustles explained in this article. You can take control of the situation and be ready to cherish some beautiful moments with your infant. By now, you should already have an idea on how to make money while pregnant and unemployed.

Describe The Business Incubator Known As A Startup Studio

Startup studios have become increasingly popular among entrepreneurs over the last few decades. They provide a unique opportunity for entrepreneurs to develop and launch their businesses in an environment focused on innovation and collaboration. A startup studio is a business incubator that facilitates the development of early-stage innovations, often by leveraging the resources, relationships, and skills of its members. This article will discuss the concept of startup studios in greater detail, including their advantages and disadvantages.

Startup studios are essentially collaborative workspaces that focus on developing innovative ideas into successful businesses. The idea behind a startup studio is to bring together experienced professionals from different disciplines and backgrounds to work together on developing a new venture. Startup studios typically offer resources such as mentorship, funding, access to networks, office space, and technical support. They also provide entrepreneurs with an opportunity to collaborate with other experts in order to create more efficient solutions that can be scaled quickly.

The concept of startup studios has been gaining traction in recent years due to its ability to provide entrepreneurs with the tools and resources needed for success. Additionally, startup studios are attractive because they allow entrepreneurs to focus on building their businesses without having to worry about the day-to-day operations of running an organization. Additionally, a startup business coach can fast track a startup to profitability. Furthermore, they offer a low risk way for new ventures to test out ideas before making major investments or launching too soon. As such, they are becoming increasingly popular among aspiring entrepreneurs looking for ways to develop their business ideas into successful ventures.

Overview Of Business Incubator Model

Overview Of Business Incubator Model

A business incubator, also known as a startup studio, is an innovative model of entrepreneurship that has gained immense popularity in recent years. It is essentially a form of venture capital wherein entrepreneurs receive assistance with launching and growing their startups. Business incubators provide entrepreneurs with resources such as office space, funding, mentorship, training and other support services that are critical for the successful launch of a new business.

The main aim of a business incubator is to assist startup founders in developing their ideas into viable businesses that can attract potential investors or customers. This model typically involves providing the necessary infrastructure and advice to entrepreneurs during the early stages of their business’ development. The incubator usually provides access to resources such as IT hardware and software, legal services, marketing and PR support, financial advice and market research.

Business incubators offer tremendous benefits to aspiring entrepreneurs by reducing risks associated with starting up a new business while helping them gain access to capital and other essential resources such as mentorship and professional advice. Furthermore, they provide invaluable networking opportunities with fellow entrepreneurs which can lead to strategic partnerships or investments down the line. By providing comprehensive support through every stage of the entrepreneurial journey, business incubators are enabling aspiring entrepreneurs around the world to turn their dreams into reality.

Benefits Of A Startup Studio

Startup studios, also known as business incubators, have become an increasingly popular option for entrepreneurs who are looking to launch their own businesses. A startup studio is a company that assists people in taking their idea from concept to reality. This can include providing resources, mentorship and guidance, funding, and other services. According to the National Business Incubation Association, there were more than 1,300 incubators operating worldwide in 2020.

The benefits of a startup studio are many and varied. Firstly, a startup studio provides entrepreneurs with access to resources that they may not otherwise have access to. These resources can include office space, mentorship from experienced business professionals, financial support, marketing expertise and more. Furthermore, it allows entrepreneurs to test out their ideas in a low-risk environment before launching them into the real world. This can help entrepreneurs save time and money by avoiding costly mistakes or missteps when launching their product or service into the marketplace.

Moreover, startup studios provide an opportunity for entrepreneurs to network with other like-minded individuals who may be able to provide valuable advice or connections that could prove invaluable down the line. Additionally, startups often have access to various workshops and seminars where they can learn about different aspects of running a business such as finance and marketing. This can be extremely beneficial in helping them make informed decisions when launching their own venture. Finally, being part of a startup studio means having access to mentors who have been through the process before – allowing them to pass on important lessons learned along the way that could prove invaluable in achieving success with their own venture.

In summary then; Startup Studios offer aspiring entrepreneurs an array of benefits ranging from access to resources and mentorship from experienced professionals through to networking opportunities with other like-minded individuals and workshops on different aspects of running a business. This makes them an attractive option for many budding entrepreneurs who are looking for guidance on how best to launch their product or service into the marketplace successfully – ultimately leading to increased chances of success for those involved.

Challenges Of A Startup Studio

Challenges Of A Startup

A business incubator known as a startup studio has become an increasingly popular way for entrepreneurs to launch their companies. While the benefits of such a model are widely touted, there are also some unique challenges that must be taken into account when considering this route. This article will explore the three main challenges of operating a startup studio and what can be done to mitigate them.

The first challenge is related to the structure of a startup studio. Generally, they are organized as venture capital firms, which can lead to certain inefficiencies when it comes to running the business. For example, venture capital investors may not have the same level of hands-on involvement with individual projects that other types of business incubators do. As a result, some entrepreneurs may find it difficult to get the necessary guidance and advice needed to successfully launch their company.

A second challenge is related to financials and resource allocation. When launching several startups at once, it’s important for an organization to have enough resources available in order to ensure that all projects receive adequate attention and funding. This requires considerable planning and careful management in order for any project in a startup studio portfolio to succeed. Additionally, since many early stage investments are inherently risky, organizations must be prepared for possible losses while running their studio.

The third challenge associated with running a startup studio is recruiting talent. With multiple startups being launched at once, it can be difficult for an organization to attract and retain top talent who can take on leadership roles within each project. As such, organizations need strategies in place that will help them recruit individuals who have both technical skills as well as managerial experience relevant to their industries or markets. They should also look into offering competitive salaries and attractive incentives which will make potential employees more likely to join their team.

Due to the complexities involved with running a successful startup studio, organizations need robust systems in place that will enable them to effectively manage multiple projects at once without sacrificing any quality or productivity along the way. This includes having processes for allocating resources among projects, recruiting talented individuals who can take on key roles within each one, and making sure all investments remain profitable over time despite inevitable risks associated with early stage ventures. By putting forth thoughtful consideration and effort during each step of this process, organizations can maximize their chances of success when operating a startup studio and ensure they are offering the best possible opportunities to the entrepreneurs they work with.

Final Thoughts

Business incubators, more commonly referred to as startup studios, have become a popular tool for entrepreneurs looking to launch their business. A startup studio provides a supportive environment for launching and growing new businesses. The model is based on the idea that providing resources such as mentorship, capital investment, and access to technology can help nurture successful startups. Through this approach, entrepreneurs are able to gain access to the tools they need to succeed in their venture.

The benefits of employing a startup studio approach are numerous. It allows entrepreneurs to take advantage of established networks and resources while reducing risk through shared costs and services. Entrepreneurs can focus on their core business strategies instead of having to invest time and money into developing the necessary infrastructure. Additionally, it enables them to benefit from experienced mentors who can provide guidance throughout their journey.

Despite its advantages, there are certain challenges associated with the use of startup studios. For example, finding the right partners is essential in order for the venture to be successful; however, it can be difficult to identify compatible investors and mentors who share a similar vision for the project. Furthermore, many studios require entrepreneurs to surrender some control over decisions related to their business in exchange for funding or other resources which could limit their autonomy in certain areas.

In conclusion, startup studios offer an attractive option for entrepreneurs looking to launch new businesses due to its ability to reduce risk while providing access beneficial resources and experienced mentors. However, it is important that these individuals carefully consider all aspects of working with a studio before making any commitments in order ensure that they make decisions that best suit their needs and those of their company.

Porter's Five Forces

One of the best methods to conduct a competitive analysis in your industry is to use Porter's Five Forces Model, a framework developed by Michael Porter of Harvard Business School and published in Harvard Business Review in 1979.

It was developed to help business owners give themselves a competitive advantage by understanding the industry structure and how competitive forces shape strategy.

In this guide, we'll explore the benefits of the Five Forces Model and how to apply it. This analysis is utilized by startup coaches to determine the completive environment that their client is entering.

What Is The Purpose of Porter's Five Forces Analysis?

Traditionally, organizations focused exclusively on their existing competitors and their actions. In other words, competition in an industry was viewed as a tug of war between rivals, with each party attempting to claim a higher market share and more sales.

When Michael Porter introduced his Five Forces Model, the main goal was to help business owners develop a robust business strategy by examining the forces in their wider business environment. That's what makes the Porter's Five Forces a powerful analysis.

What Are the Five Forces of M Porter's Model?

Purpose of Porter's Five Forces Analysis

When it comes to analyzing industries, there are five forces that shape Michael Porter's framework. These are the factors that determine the competitive pressure of an industry and a business' potential to increase profitability, which are:

1. Buyer Power

The bargaining power of customers or buyers is used to measure competition intensity from the customer's point of view. Customers like to receive higher value for their money. In other words, they want to get more and pay less.

If your business is competing in niche markets where the customer base is limited, each customer has more significance and bargaining power. They can negotiate prices and dictate terms.

On the other hand, if your company sells essential products or services that most people need in their daily lives, it'll be easier for you to charge higher prices.

2. Supplier Power

Ideally, the suppliers in your industry would prefer to provide less and charge higher prices. If there are few suppliers in your industry, each supplier will always be seeking to raise prices or negotiate favorable terms.

On the flip side, an industry that's saturated with a large number of suppliers will be less affected by supplier power. With low switching costs between different suppliers, there will be higher price competition among suppliers. This means that businesses can easily switch from one supplier or supplier group to another without losing much.

supplier buying power

3. Substitute Products

How many substitutes are there for your products or services? Do they serve the same purpose as efficiently as your offering? Are they less expensive? By asking these questions, you can effectively analyze the threat of substitutes and their effect on your competitive strategy.

4. New Entrants

The barriers to entry for new businesses into an industry can significantly influence your company's profit potential. If it's easy for potential entrants to break into your industry and grow their operations quickly without requiring massive budgets, the industry competition will naturally be more fierce.

On the other side of the coin, an industry with the following entry barriers will have less intense competition, at least in terms of new competitors:

These strong and durable barriers make it harder for smaller businesses to establish themselves and gain market share.

5. Competitive Rivalry

A saturated industry with lots of established companies will have a higher level of competition than a relatively new industry with just a few companies. An industry with high exit barriers also means that direct competitors will be more willing to retain customers.

The Sixth Force

For many business strategies, there's an additional force that affects a company's profitability, which is government policies. Governments impose certain regulatory and trade policies that may affect how a business makes money. Taxation also plays a big role here.

Advantages and Disadvantages of Porter's Five Forces

Advantages and Disadvantages of Porter's Five Forces

Now, let's take a quick look at the pros and cons of the Five Forces tool:


Helps Determine Competitive Intensity and Threats

With the Five Forces tool, you can pinpoint how each force affects your business, whether a substitute product for the industry's product is a threat, and the buying power of consumers and buyer concentration.

Simple to Apply

Applying the Five Forces tool to your business doesn't require much time or effort. A basic understanding of the model would suffice. You also need to collect data. The more in-depth your data collection efforts are, the more accurate the model will be when it comes to identifying the industry's structure and the pure competition in the industry.


May Not Be Very Effective in Today's Market

Assessing industry attractiveness using the Five Forces Framework may not be very effective in today's market. M Porter's model was developed in the late 1970s. At that time, the market was more stable, the competition was high, and there was a steady change in technology.

In contrast, today's market requires companies to be more dynamic and resilient. This is largely due to the major advancement in technology that forces businesses to compete in a "hypercompetitive environment."

Put simply, today's market is unstable, meaning that the Five Forces tool may not be that effective for businesses in predicting market changes and their impact on industry profits.

Doesn't Account for the Company's Resources

The Five Forces Model neglects the resources a company brings to the industry. That's why experts recommend using the Five Forces tool along with a resources-based analysis of the company.

Lacks the Explanation of Strategic Alliances

Robust alliances can give businesses an "unfair" competitive advantage. The Five Forces Framework doesn't address how these alliances affect profitability.

Porter's Five Forces Example

To further illustrate how Porter's Five Forces Analysis can be applied in practice, let's take a look at this example here in the sportswear industry.

The sportswear industry is an industry with a steady growth rate, particularly due to globalization, economic growth, and favorable fashion trends. Its total market is expected to reach USD 267.61 billion by 2028. Now, let's see how Porter's five competitive forces would apply here:

Buyer Power

Being a B2C (Business to Consumer) market, there are millions of consumers in the sportswear market, meaning that the power of customers is limited.

Bargaining Power of Suppliers

Sportswear companies source materials such as cotton and polyester fabrics. There are many suppliers that provide these materials, so we can safely conclude that the power of suppliers isn't significant in this industry.

However, keep in mind that more prominent companies that require pushing larger stocks may be able to source materials at discount prices for bulk quantities, allowing these companies to offer their products at lower prices by reducing manufacturing costs.

Threat of Substitute Products

There are no real alternatives to sportswear products. The taste and style of consumers may shift in the following years, which may cause a decline in the sportswear market. However, currently, substitute goods are a distant possibility.

Threat of New Entrants

Threat of New Entrants

There's a low threat of new entrants in this industry because new companies can't afford the marketing investment, product differentiation, and development of the same brand identification and recognition of global names.

As a result, new entrants may be able to compete with these global brands on a local level only, specifically by offering more budget-friendly choices at comparable quality to offset the strong brand identity of such reputable names.

If a local brand later aspires to become global, competing in a narrow niche of the market would make sense.

Competitive or Industry Rivalry

Currently, the sportswear market is dominated by big players such as Nike, Adidas, Under Armour, and Asics, with a combined global market share of around 38%. This means that competition is fierce on a global level.

Final Thoughts On Porter's Five Forces

That was a detailed explanation of Porter's Five Forces Model, its advantages and disadvantages, and how to use it to analyze industry profitability and your competitive position.

You can either use the Five Forces tool yourself or get it as a service from any reputable small business consultant services.

How To Network For Your Startup


a group of startup founders networking at an event for startups

Startups are not born overnight. They take time to develop and mature. It would help if you built relationships before expecting people to help you. Networking is the best way to get started.
If you want to start a business, you have to think like a business owner. This means that you should always look at how you can improve your business or how to network for your startup.

Networking is critical to your startup's long-term success.

A business startup is always a challenging task that necessitates many favorable circumstances. There are, however, several things you may do to improve your chances of success. If you've ever established a business, you know how tough it is to start networking when you don't have any prior networking experience. While networking can be challenging if you don't know its importance, it is extremely beneficial to any business and critical to your startup's success. You just have to explore and meet as many wonderful business owners as possible. If you need help or advise you could utilize a startup coach.

What Is Networking?

a group of male startup investors

It is an activity through which early-stage entrepreneurs can broaden their network to locate greater prospects in their area.

Startup entrepreneurs can also learn about the newest trends, technologies, and potential investors for their company by networking.

When people have a common interest exchange information and business ideas, it is known as networking. Some people believe that networking is passing out business cards and having lunch with colleagues. While this is partly true, it is far from the complete tale.

Networking is fundamentally about forming connections. It's all about gaining people's trust and desire to form a business relationship with you. You may use the professional connections you make to grow your business immensely.

How Does Networking Help Your Startup?

image of a group of strings forming a cool startup idea

What comes to mind when you hear the term "business networking"? Hundreds of individuals would undoubtedly speak and pass out business cards, brochures, and flyers. That is part of it, but this is just the tip of the iceberg.

Have you ever observed how some new firms have many customers while having no advertising? This is because the majority of their clients are people they know, have met, have mutual friends with, or have been referred by prior clients. This is the result of a startup's networking efforts.

It would be best to create awareness about your firm regardless of where you are in the startup funding process to generate sales. This is possible only through a strong network.

Many startups have had their first successes due to the network connections they've developed, reducing the chance of failure. However, building your network is critical to the long-term success of your startup; therefore, you should concentrate your efforts on cultivating a supportive community among your peers and the business community. While you may start a business without a network, networking is one of the most important strategies to construct a sustainable and long-lasting profitable firm.

How to Build Your Business Network?

large meeting of many business men and women

Is your business locked in a never-ending cycle, unable to grow? Perhaps there's anything you're doing incorrectly or not at all. It may be because you're not interacting with the correct individuals. As an entrepreneur or a startup's founder in its early stages, business networking is critical to growing your company from the ground up.

Big-name firms got where they are today by cultivating strong business partnerships. These are the kinds of connections that can be made by networking. Likewise, your company can reach new heights by cultivating significant business partnerships in the startup ecosystem.

Target Business Event That Matches Your Business Goals

target board with business goals on it

Don't just go to any event, though! Make sure that the event is relevant to your business. For example, if you're looking to network at a conference about marketing, make sure that you attend the right conferences. Also, try not to go to too many events. Instead, try to focus on one or two events per month.

Research the event over the internet or get in touch with the organizers for further information. Check to see if the event is relevant to your work.

Attending an event that is not related to your sector or business would be redundant and a complete waste of time. For example, you won't find many networking opportunities at a business gathering oriented on fine arts if you're a tech startup entrepreneur. Instead, attending events like TechCrunch would be more valuable.

Entrepreneurship seminars, conferences, and awards ceremonies are among the business events you should attend. Local network clubs such as MySpace and LinkedIn can help you meet new individuals. The great game of business, the world business forum, Wall Street Journal business conferences, international startup festivals, content marketing world, are some of the most reputable global conferences you may attend.

These events are intended to bring entrepreneurs together to stay current with industry trends, build a strong network, and become thought leaders. Such events lead you to your ideal audience.

Devise a Plan

networking plan

Make a full proof plan before entering a business network. Keep in mind your goal which can be introducing your startup, looking for funding, or both. A business card is an ideal way to remember your fellow entrepreneurs and investors. It also allows them to contact you later. You can also use brochures to highlight a few key points of your business, keeping it short and sweet, unlike a lengthy 20-page business proposal.

Always be prepared. When you go to an event, make sure you bring something to share. Whether it's a business card, a flyer, or a business proposal, make sure you have something to give away.

Meet a Lot of People

founder giving a pitch to many other people

Networking is a great way to interact with some like-minded person. However, you should not spend most of your time interacting with a single individual. Rather, you should meet and engage with as many people as you can.

Networking is a great way to expand your business. If you know someone who could benefit from what you offer, introduce them to each other. Ask if they need any help promoting their business. When you're networking, don't just talk about yourself. Ask questions about what others do. Find out what they are interested in and try to find common ground.

Be open to meeting new people. Don't let fear hold you back from making connections. Many people would love to talk to someone successful. So, take advantage of these opportunities.

Correct Timing

A key point to remember here is that a business networking event is pitching your product or service to investors rather than selling. Therefore, once an investor shows interest, you can request the right time to go into details about your business.

Arrange a Wingman

If you are a people person and cannot initiate a conversation, you can bring along a wingman to break the ice. You would also need a wingman who has a lot of connections to help introduce you to a larger network.

Ask Contact Details

It is advisable to exchange business cards at a social networking event. If you have the contact numbers of potential investors, it is easier to contact them later and set up a time for a meeting. Don't forget to follow up! Always send a thank-you note after a meeting. Follow-up emails are great ways to keep in touch with people who may be able to help you in the future.

a persons contact details example

Utilize Social Media Platforms

Social media sites and groups are a great place to meet people with similar interests. These startup communities allow you to learn from other entrepreneurs and gain valuable advice. There are many different platforms, including Facebook, Twitter, Instagram, Pinterest, LinkedIn, and YouTube.

A social network may be useful for connecting with people who work in tech-related fields. Also, keep an eye out for pertinent discussions or talks on these social media networks. For example, a discussion in a LinkedIn group may assist you in identifying relevant connections.

Use Your Email Address

We all know that face-to-face meetings are the most effective people network. However, you need to start from somewhere and let the investors get acquainted with you before setting up a meeting. Email addresses come to the rescue once you have identified someone who might be of help. Your email should include the following:

You are on the right track to build business connections if it clicks.

Join a Coworking Space

Coworking spaces are becoming increasingly popular. Choose coworking at least once a week if your employer allows you home-based work (or if you're a solopreneur). You'll not only be sharing space with other freelancers and businesses, but the relaxed atmosphere will also allow you to meet like-minded people. This is a chance to build connections naturally with minimum pressure.

founders all working together in a coworking space

Join Hands With Online Influencers

Online influencers use social media to exert influence. Influencer marketing is when you employ an influencer to promote your products or services.

The influencer brand collaboration, also known as influencer marketing is a guaranteed approach to increase your brand's social media reach. It is ideal for business brand building. There is nothing like a one-size-fits-all solution for implementing this strategy, but almost any company can benefit from the correct planning and analysis.

Your business strategy should be to target micro-influencers. As micro-influencers have targeted following and high engagement rates, collaborating with them leads to brand success.

online influencer starting up her business

Join Online Communities

Thanks to the internet, networking has never been easier or faster than it is now. There are online communities dedicated to assisting people in connecting and networking. However, you may take it a step further by joining online forums that discuss issues relevant to your specialization or industry. You don't have to keep it strictly business-related. You can also join groups dedicated to topics of personal interest. As previously stated, you should have a diversified network so that you are not limited to the professional realm.

Benefits of Networking for Your Startup

Happy team all standing together

Leveraging Online Opportunities

Networking is the best way to connect to people who can help you achieve your goals. You may not know anyone personally, but that doesn't mean you can't find them online. There are many ways to network online, including Facebook groups, LinkedIn, Twitter, Instagram, etc.


Networking is a great way to learn about different industries and gain knowledge from other entrepreneurs. If you're looking to start a business in the future, you'll want to make sure you have some education before starting. By joining groups and attending events, you can meet like-minded individuals who can share their experiences and advice. You might even discover someone willing to mentor you towards your business objectives.

start up mentor helping out a client

Build Relationships

Networking helps you build relationships with potential clients and partners. When you first begin working with someone, you don't necessarily know how they work. By getting to know them better through networking, you can figure out what kind of relationship would benefit both parties. How to network for your startup can motivate you towards your business goals

Networking is a great way to meet people doing similar things to what you're trying to do. You can learn from them, they can learn from you, and you can both benefit from each other's experiences.

Intentional networking is about meeting people who have similar goals and values to your own. This type of networking is not just about getting business cards; it's about building relationships that last longer than a handshake.

Leverage With Investors

One of the major reasons startups fail is a lack of capital. Networking gives you access to business resources and opportunities. You can even use your network of business people to start crowdfunding campaigns.

Stay Informed About Industry

Networking is a good way to stay updated on current trends in your industry. You never know when something could come up that you need to know about. By staying informed, you get better business expertise, keep yourself ahead of the game, and avoid being left behind.

Empower Your Marketing Channels

Networking has a positive influence on your marketing efforts through the following marketing channels. You can build a network from your marketing campaigns.

Finding Referrals and Business Opportunities

business oppotunities on a compass

One of the most important reasons you'll need to network for your startup is to locate referrals and new business that will help you grow faster. Unfortunately, many businesses are too aggressive about their business plan. However, bringing in new clients and referrals whenever possible is a terrific strategy to reduce the risk of developing your startup. While new leads obtained through marketing efforts might supply you with good revenue, referrals received through networking are often of high quality. In addition, the follow-up process is easier with these referrals and converts them into customers and clients.

If you succeed in making new contacts while networking, the number of referrals you receive will almost certainly increase organically, boosting your startup's chances of success.

Build Business Confidence

When you are regularly putting yourself and your company out there in the business world, it will help you acquire confidence as you introduce your product or business concept to like-minded people. Positive feedback brings confidence in you and allows you to be proud of your products and services.

Help Other Startups

Networking is not about who you know, and it's about what you know. If you want to get ahead in life, you need to focus on what you know and use that knowledge to help others. Networking is a two-way street. You have to give something back to those who help you and share your knowledge to benefit others.


group of happy networkers

Networking is a great way to get to know other entrepreneurs and help each other out. You can find people who are willing to invest their time and resources into helping you succeed. How to network for your startup is easy. This is especially true if you have a good product that has potential. If you don't have a product yet, you should still network. There are many ways to do this, as discussed in this article.

Networking doesn't need to be complicated. Just remember the key to networking success is to keep it simple and genuine. Don't overthink it. Instead, focus on making connections with people who are going places.

Networking is a skill that can be learned. There are many ways to network, but the best way to learn how to network is to do it. Start networking now!