Moms the world over share the same hopes and fears. If it’s not fretting about the kids then it’s worrying about keeping a roof over their heads, or putting enough food on the table to feed them. All of that’s on top of the procession of utility and other bills which seem to take a greater bite out of the family income with every passing month and year. Is it little wonder then that Mompreneurs everywhere are taking matters into their own hands, refusing to become hostage to fortune and meekly accepting the traditional parental role, going full length to start a business or entrepreneurial adventure.
Moms are natural entrepreneurs
Yes, they are, because bringing up a family, particularly when times are tough, means thinking on your feet, making ends meet when resources are scarce, and then spotting the opportunities which might make life just a little bit more comfortable or bearable for everyone. Ask yourself, who often takes the hard decisions within the family? Who thinks through all of the implications? Who sees the future in more logical terms, you or your partner? You do, of course! That’s why moms make natural entrepreneurs.
Even although moms are natural entrepreneurs, stepping out into the world of business for the first time is still a scary prospect. There’s so much to learn. Luckily, in this day and age, we’ve all got access to a wealth of online information via laptop, tablet or smartphone. All of that should make the start-up process a much easier one. But, remember, no one runs before walking. Take as long as you need to thoroughly investigate the area you intend to target. Gather up as much business intelligence as it takes before you feel comfortable taking that first exciting step. Hopefully, you’ll never look back.
Don’t be afraid to fail
Learn from failure. Many of the most successful entrepreneurs failed on more than one occasion before making it big. Just so long as you learn from them, mistakes are actually good. They can make you more determined and even hungrier for success. So carefully analyse what went wrong. Not enough funding in place? Perhaps the market was already too saturated? Company check procedures a bit on the lightweight side? Once you’ve identified some, if not all, of the problems then it’s time to climb aboard the entrepreneurial express once again.
Ignore the myths
Myths abound in business as they do in many walks of life. One of the most oft-quoted is that nine out of 10 businesses fail. Not true. According to the Small Business Administration (SBA), “About half of all new establishments survive five years or more and about one-third survive 10 years or more. As one would expect the probability of survival increases with a firm’s age. Survival rates have changed little over time.” There you have it. Another myth bites the dust.
In fine company
The SBA is a mine of positive information for anyone looking to start a small business. While women-owned firms have increased as a share of total businesses over the years, their size still remains smaller than national averages. Nevertheless, according to 2007 U.S. Census Bureau figures, there were 7.8 million women-owned firms, averaging $130,000 in receipts. So you’re in fine company. Check out more from the SBA here.