Mompreneurs are women who run their businesses and their homes.
Women are so gifted with the ability to – for want of a better word – multitask. They are efficient in all that they set their minds to do.
It takes this God-given gift for a person to:
- Cook and clean the home
- Handle the family laundry
- Juggle school schedules
- Help with and encourage homework
- Manage the domestic family finances
- Keep a full time job or run a business, among other things.
Most families today are dual income ones where both partners work in order to make ends meet. This situation may take its toll on the welfare of the family, especially the children when neither parent is home to take care of them when they come back from school. It is this situation, as well as the need for dual income to make ends meet that is making some mothers opt to be mompreneurs to give them the flexibility to make time for their families instead of taking up paid employment were they have to clock in and clock out as the job demands. So it is no surprise that more and more mothers are starting businesses and becoming “mompreneurs,” women who juggle running their own businesses along with the demands of their families.
Mothers make good executives of their own companies. Their ability to manage their families prepares them for this. Women who are considering becoming mompreneurs should come up with business ideas based on their passion for the business and their knowledge of it. Where they lack the requisite knowledge, they should take the necessary steps to learn all they can about the business they want to engage in. Asking other women in the same line of business is not a bad idea. The saying goes that there is nothing new under the sun. Even if your business idea is one that other people are doing, all you need is your own unique selling point for the same business idea.
Any woman considering being a mompreneur should be encouraged by the fact that women have being wired for success and have the innate ability to:
- Be passionate and driven
- Be very focused in achieving success
- Not easily be discouraged
- Be able to easily adapt and be efficient
Many mompreneurs often start their business on a shoestring budget. However, no matter the size of the budget, it is very important to have a business plan in place to act as a guide in the steps needed to stabilise and grow the business. Budgeting considerations to be taken into account include:
- Compensation as CEO. You must be able to sustain yourself through your business.
- Staff payroll. Keep employment minimal and only hire necessary staff.
- Marketing is important to promote your product or service and get noticed by your target clients.
Depending on the nature of the business, networking can grow the business. Mothers can use their connections in schools and their religious communities to promote their businesses.
Mompreneurs should also understand and make use of online tools to establish and grow their business. They should think of how to use the internet to promote their goods and services. Where the product or service they are offering can be sold online, it can significantly reduce the amount needed to start up the business.