If you’re a mom who’s thinking about starting a business, you’re not alone. In fact, you’re part of a growing trend. According to a report from Boston Consulting Group, the number of women-owned businesses increased by 21% between 2007 and 2016. And a good portion of those businesses are run by moms—mompreneurs, as they’re often called.
So, what does it take to be a mompreneur? While there’s no one-size-fits-all answer to that question, there are certain skills and qualities that will help you succeed. Here are four of the most important ones.
1. Time Management Skills
As a mompreneur, you’ll have to wear many hats and juggle a lot of different balls. From running your business to taking care of your family, there’s a lot on your plate. That’s why time management skills are essential. Without them, it will be difficult to get everything done. If you know that you want to get better at what you do, take on PowerPoint tips, and even take courses, you have to be able to have the time for it. This can often mean setting a schedule for yourself that will allow you to fit everything in. This is also where organization comes in. And one of the reasons I created Productive Mama!
2. Organizational Skills
Just like with time management, being organized will help you make the most of your day and get more done in less time—leaving you with more time for your family (and yourself). There are lots of ways to get organized, so again, find what works best for you and run with it. Some people prefer old-fashioned paper planners while others opt for digital solutions like Artful Agenda, Google Calendar or Asana. Whatever route you choose, make sure it works for you and that you use it consistently.
When you’re running your own business, there’s no one standing over your shoulder making sure you get things done—you have to do that yourself. That’s why self-motivation is so important for mompreneurs (and all entrepreneurs). If you’re not self-motivated, it will be very difficult to get anything done—let alone build a successful business. There are lots of ways to stay motivated when working on your own business venture. One is to set small goals and celebrate each time you reach one. Another is to find an accountability partner. And using some of the anti-procrastination tools I put forth in From Procrastinating to Productive Mama will also help. Whatever route you choose, make sure it works for you so that you can keep moving forward toward your big goals.
Last but not least, mompreneurs need to be flexible if they want to be successful. Why? Because as any parent knows, kids have a way of throwing off even the best-laid plans at the drop of a hat—and when that happens (which it inevitably will), being flexible will help ensure that things don’t totally fall apart. This means having the ability to roll with the punches when necessary and making adjustments on the fly when needed—all while keeping your end goal in mind so that you don’t lose sight of what’s important along the way.
And while daily flexibility is important, flexibility over time and realizing routines must change as your kids grow is also vital. What your kids need as they grow will hugely impact your business management as a mom of babies/toddlers, littles/middles and big kids/teens.
5. A Willingness to Take Risks
As an entrepreneur or budding business owner, it’s important that you’re willing to take on a certain degree of risk. It’s not always easy to take these risks, especially as they can often be financially driven. However, by being willing to take them, it does help you make more progress within your business or any venture you’re looking to undertake.
For example, investing in your business by finding other streams of income is important. Whether that’s investing in property, stock or even to sell your gold, it’s worth looking at investments and the benefit they can provide.