Mom-owned small businesses are on the rise. According to the National Association of Women Business Owners, 57% of women-owned businesses are operated by moms.
It’s no surprise! Being a mompreneur can provide mothers with a rewarding career while balancing the joys and demands of motherhood.
What is a mompreneur?
A mompreneur is a term used to describe a mother who has established her own business.
Being a mompreneur is fulfilling. However, it isn’t without its challenges. Mothers must balance the need to drive their business forward while juggling priorities, maintaining a work-life balance, and getting assistance with childcare.
It also requires creativity, time management, commitment, organization, and personal resilience.
Being a mompreneur involves juggling two jobs, and you must find the best way to balance each.
Clarify your purpose and plan
Before starting a business as a mompreneur, research market gaps and how your business could potentially fill them, and you should also create a business plan. Think of it as a roadmap that helps you plan each stage of starting and managing your business.
For more information:
- Writing your business plan
- Creating action plans: Operations and management
- Marketing plan component of your business plan
Know the legal requirements of starting a business
There are various legal obligations when starting a business. Thoroughly research federal, state, and local guidelines and regulations, including zoning, licensing, employment, permits, and tax laws.
For example, local zoning regulations impact all businesses, even home-based businesses. They may even prevent you from operating a business out of your home. Check with your state and locality to learn about licensing and permit requirements, among other legal restrictions for home businesses.
You should also consider formally structuring your business to reduce liability. Starting an LLC can help protect your personal assets by separating them from your business. However, there are legal obligations such as appointing a registered agent and filing a beneficial ownership information report. Failing to meet these requirements can have serious consequences for both you and your business. For more information see: What are the legal requirements for starting a small business?
Build your team
Every mompreneur needs a team of people to ensure their business is a success. After all, you can’t do it all alone. Your team may include someone to pick up the kids from school when you can’t, someone to help out with meals, a house cleaner, and so on. Rely on your community, family, and online services (such as meal delivery services) so you don’t have to do it all on your own.
But your team should also include professionals who can help you succeed. As you get started, there are organizations that help you navigate business ownership as a mother, including:
- Centers for Innovation & Entrepreneurship: Located at local colleges and universities, these centers provide free online and in-person content and can help point you in the direction of local resources.
- Small Business Development Centers (SBDCs): Located across the U.S. SBDCs are sponsored by the SBA and provide assistance counselling to small business owners.
- Women Business Centers (WBCs): WBCs provide free and low-cost counseling and training.
- National Association of Women Business Owners (NAWBO): NAWBO hosts free webinars and events across the U.S. Check locations here.
- Chambers of Commerce: Your local chamber may be able to provide resources to help you start and grow.
Be strategic with your time
When you have a lot on your plate, it's crucial not to waste time on meaningless tasks. It's important to be discerning about how you allocate your time and ensure that you prioritize the most essential work.
When faced with a long to-do list, a helpful way to determine priorities is by asking yourself, "Which task will generate revenue the fastest?" Avoid investing time in tasks that yield no results. Remember, the goal is to grow a business, and making money is crucial for its sustainability. Without incoming revenue, it's more of a hobby than a business.
Another challenge is dealing with parental guilt.
It can be emotionally difficult for many working moms to balance the responsibilities of parenthood and entrepreneurship. Some mothers experience parental guilt, and mompreneurs need to find healthy ways to manage these feelings. As a mompreneur, you have the right to prioritize both your family and your business. Some mompreneurs have found that setting milestones for their business and family life has helped them successfully navigate the challenges of raising a child and running a business.
Find a balance
There is no magic bullet for balancing motherhood and running a business. Try to prioritize self-care and your confidence so you can effectively support your family and your business. Time blocking can be a big help here. Carve out time for yourself, your family, and your business – and adjust accordingly until you find what works best for you and your family.
Learn more
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