Working mums in the UK and around the world are experts at parenting and running a business successfully. However, all mothers must strike a balance between juggling their family and work lives. They appreciate tips on how to become a great mompreneur like the ones provided by Camino Financial, an online lender and supporter of female entrepreneurs.
In addition to putting those helpful tips into practice, this post reveals what it takes to become a great mompreneur, specific advantages and challenges you'll face and ways to improve your work-life schedule.
How do you become a great mompreneur?
A mompreneur (mom and entrepreneur) runs a business while rearing her children. A mother can seek financial freedom without jeopardizing quality family time.
An at-home entrepreneur is a multitasker and knows how to work creatively. She can change a diaper, kick away toys with her feet, and talk to a customer on speakerphone without missing a beat. And don't forget, a mompreneur learns how to be sensitive, aggressive, and generous without losing sight of her purpose as both mom and business owner.
To succeed in this dual role, a mompreneur must stay flexible and focused by finding new ways to function optimally. A mompreneur is organized, needs to have boundless energy, and knows when to take breaks to avoid feeling overwhelmed.
Advantages and challenges a mompreneur faces
When you become a mompreneur, you look excitedly at what's ahead. Even so, it's a good idea to weigh the advantages and challenges before you take that first step forward.
● You don't entrust the care of your children to someone else as you would when working for an employer. You can take a day off when children are sick or schedule a play day with other mums and children.
● You call the shots because you determine what happens next in your home and business.
● You can take tax deductions for a home office, subtract expenses from gross revenue, and choose the best business structure to decrease your business's tax liability.
● You work two full-time jobs. Running a business and caring for children are equally challenging. When you become a mompreneur, the important tradeoff is being able to connect with your kids 24/7 while earning income.
● You have trouble following your passion: A mompreneur doesn't have a cheering team spurring her on to succeed. Therefore, she must stay passionate about her future and believe in her skills and abilities.
● You worry about funding: Most mompreneurs just starting out don't have a financial history for lenders to review. So, they use personal savings and credit cards to finance their businesses.
Tips to balance your maternal and business side
In addition to the tips provided by Camino Financial mentioned earlier, here are more ways to become a great mompreneur.
● Eliminate guilt: It's easy as a mompreneur to feel pulled between caring for your children and growing your business. By setting priorities and sticking to financial and family goals, you can enjoy the journey.
● Meet with other mompreneurs: Working mums can share ideas and discuss what works and doesn't to find solutions to problems.
● Decrease distractions: Improve your focus and increase productivity by putting your phone on mute and controlling other devices that hijack concentration.
Mompreneurs on the move
Stepping out on your own seems like a daring proposition but consider this data. According to a 2019 report by the Rose Review of Female Entrepreneurship, 1 in 3 entrepreneurs in the UK is female. The report also noted that "flexibility around family care is the #1 reason to start a business for women with children." That's compelling evidence that mompreneurs can be contributors to the economy without sacrificing their roles as mothers.
Mothers believe they can have it all—a successful business and a thriving family. That's why they become a great mompreneur to find harmony as mothers and entrepreneurs. If you haven't found your stay-at-home niche, why not try being a mompreneur. You won't miss any of your children's milestones events and will enjoy the perks of being your own boss. Join the growing list of mompreneurs who enjoy the best of both worlds.