The main goal of any mompreneur is to effectively balance being a parent and starting a business. Only the most successful mompreneurs achieve this work life balance. In order to excel as a mother and entrepreneur, you need to prepare yourself for the struggles that lay ahead of you. Then, you can effectively overcome them and create a sustainable business that makes a real difference in the world. Keep reading to learn about the challenges that successful mompreneurs must manage.
Not Being Taken Seriously
A big challenge that mompreneurs face is not being taken seriously. There are a variety of reasons why business professionals do not take mompreneurs seriously. One of the main reasons is that mother entrepreneurs usually work from home. Most experienced professionals immediately picture a frantic mother trying to send out an email with a crying baby on her hip. While this may not be the case for you, you will still struggle to prove yourself in the business world. Prepare to show your worth through your work like women in chemical engineering. Write a clear business plan that highlights your financial goals, profit predictions and marketing strategies. Then, you can overcome this challenge that successful mompreneurs must manage.
Another common struggle that mompreneurs deal with on a daily basis is overcoming guilt. Many mothers refer to this guilt as “mommy guilt”. This guilt stems from missing out on your children’s experiences. Of course, every mother want’s their kid secured with attention, love and care. You may have to attend an important business meeting instead of your child’s soccer game. Your children’s school play date could be the same as a major project deadline. Mompreneurs are often forced to choose between fulfilling work duties and attending their children’s events. Instead of feeling guilty about missing your kid’s experiences, remember that you are being a good role model for them. You teach them what hard work looks like daily. Keep this in mind to manage this mompreneur challenge successfully.
Managing Time Effectively
Additionally, mompreneurs struggle to manage their time effectively. Many new mother entrepreneurs work from home. Because of this, they usually work without a strict schedule. This creates an array of issues on the business and family front. Rather than playing your days by ear, use a business calendar software to plan out your weeks in advance. Then, you can set time aside for your family and your work. Every successful mompreneur separates work and family time. That way, they avoid answering business calls when spending time with their kids. At the same time, they do not get interrupted by their children when on important work calls. Overcome the challenge of time management to become a successful mompreneur.
Raising Startup Funds
Mothers starting their own companies also struggle to raise startup funds. While this is a common struggle for most entrepreneurs, moms or not, it can be particularly strenuous for mothers. They already need to learn how to manage caring for their children and running a business. They have little time to meet with venture capitalists to obtain funding. Fortunately, there are a few easier ways to earn extra cash for your startup. Consider setting up a yard sale in front of your house. You can increase your startup finances without leaving your children. Some mompreneurs achieve their funding goals by using startup financing websites. Keep these options in mind to manage this struggle and excel as a mompreneur.
Finally, mother entrepreneurs almost always struggle to separate their business and family finances. Similar to other points on this list, entrepreneurs of all kinds face this challenge. However, mompreneurs face higher risks. When a mother combines her family and business finances, she puts her children’s financial future at risk. If her business fails, she could bring her children’s savings down with it. Avoid this outcome by separating your business and family capital from the beginning. Track your business expenses and your family costs differently. Consider hiring two separate accountants for each set of finances and implementing money saving strategies for both. Then, you can manage this common challenge that successful mompreneurs overcome.
In order to manage mom-life and running a company, mompreneurs need to overcome a few challenges. A major struggle to prepare for is not being taken seriously by other professionals. Most mother entrepreneurs also struggle to overcome “mommy guilt”. Learn how to manage your time effectively to avoid combining family time and work time. In addition to these challenges, mompreneurs also struggle to find the time to raise startup funds. Finally, prepare to separate your business and family finances. Successful mompreneurs manage these challenges well.