Women are increasingly becoming self-independent, and this is not only visible in their way of life, but also in their career choices. Traditionally, getting a college degree and landing a white-collar job was perceived as the ultimate success.
However, with the need for independence and more wealth, and priority to family matters, many women are now choosing the entrepreneurial path of self-employment. These women who simultaneously tackle motherhood and launching a business have come to be known as “mompreneurs.”
Evidence of this is in a report by the National Women’s Business Council that states that there are currently more than 10 million women-owned businesses. The council further asserts that more than 1,200 women are starting business ventures every day — many of them to grow a business while still raising their families.
Notable Women Idols Who Are Mompreneurs
When it comes to the corporate world, the shortage of female executive officers is severe and deeply entrenched. The continued inequality and historical gender bias even in the modern-day world have given women few opportunities to play the role of CEO.
Additionally, many companies have not defined a clear career path that defines how women, particularly those that take time off to rear their kids, will advance in their careers.
Nonetheless, despite the low statistics of women CEOs, there’s a significant number of strong, successful women who are making a killing in the business world, while still maintaining their families.
Some of the notable women who have defied the odds to create business empires include;
- Marissa Mayer, former CEO of Yahoo
- Mary Barra, CEO of General Motors
- Jill Salzman, a serial founder and the brain behind Founding Moms
- Melissa Kieling, founder of PackIt
- Anne Raimondi, founder of One Jackson
The above list represents just a few of the momtrepreneurs who’ve made it big in business startups.
Why be a mompreneur?
In many cases, women want to join entrepreneurship because of the money, working at their own convenience, being their own boss, better work-life balance, and so on.
I agree that self-employment is associated with all the above perks, but it’s more than the financial gains or living a life devoid of drama.
For me, the real prize, or rather the ultimate goal of mompreneurship, is materializing career goals. It’s all about owning an enterprise and using the business to bring your ideas to life. After all, you can never join entrepreneurship without being a savvy contributor with grit and goals.
Remember to take advantage of the many entrepreneurial assistance programs, many devoted to women in business, such as the Small Business Administration Women’s Business Centers. With a little searching, you can find resources for women-owned businesses, including grants specifically for companies owned by women.
Taking on the Challenge of Mompreneurship
Looking at the above list of women CEOs can be quite intimidating since they all run multi-million-dollar companies. But you don’t need to be the CEO of a big corporation to combine motherhood and entrepreneurship.
However, a word of caution: before you undertake this route, you should understand that it’s not always as simple as it sounds. You’re going to experience challenges, some, of which may depress you and even lead you to desperation.
If you’re a new mom with a young family, you could find that balancing business and work isn’t the ride in the park you may be envisioning. Also, you need to understand that you’ll have to make sacrifices, such as working in odd locations and at odd hours.
Finally, understand that profits in mompreneurship often come packaged with dreadful experiences such as dragging your kid to your “workplace,” having to put up with demanding and difficult clients, sparring with your spouse about whether to continue with your idea, learning employee ethics, and others.
However, an important aspect of being a mompreneur is being able to question some of your business decisions and learn from your mistakes.
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What You Need to Get Started
Many people want to own their own business. However, the mompreneur path is not for every woman. Yes, that’s a bitter pill to swallow.
See, mompreneurs are a special breed of moms who usually can spot the difference between a nice dream and a viable and money-making concept. They don’t depend on what they hear from others but have learned to do their own research. Also, they’ve learned the benefits of investing their time, resources, and energy on researching how to become successful entrepreneurs before venturing out on their own.
Here’s a breakdown of things to help you become a successful mompreneur:
- Hone your work ethic and discipline
Remember that entrepreneurship is about being your own boss, so you need to manage yourself. Ensure that you can perform tasks and responsibilities independently without anyone driving you to do so.
- Find your passion
To find your niche, you need to be open to a variety of ideas and business options. As you evaluate your ideas, you can pick the ones that overlap with what you truly enjoy doing. Having inspiration is integral in fueling your goals and giving them the momentum they will need to soar.
- Have a business plan
Creating a business plan allows you to become an objective mompreneur. Your plan allows you to outline your specific goals, how to meet them, and how much time you need.
- Get innovative and tech-savvy
Though you will learn different tips and tricks along the way, understanding how to use digital tools is vital to the success of your enterprise. While some technological tools are vital for simplifying and micro-managing tasks, others will form an important aspect of your advertising campaign. Therefore, having a rudimentary understanding of how to use the technological tools is important.
As we noted earlier, the journey to building a business empire from scratch can be quite challenging, so it’s crucial that you can see a silver lining during a storm.
Depending on your purposes, passion, goals, or motivation, there are limitless options when it comes to choosing your entrepreneurship path. Whether it’s in manufacturing products or providing services, no one should limit you on what you choose.
Don’t let fear drag you down; join the bandwagon of mompreneurs today.
Disclaimer: The content on this page is for informational purposes only, and does not constitute legal, tax, or accounting advice. If you have specific questions about any of these topics, seek the counsel of a licensed professional.