In the dynamic world of entrepreneurship, women, particularly moms, are emerging as a force to be reckoned with. Having been an entrepreneur for the majority of my life, I can attest that the unpredictable nature of business prepared me for motherhood, while the patience gained from being a mom fueled my perseverance in business.
As a small sample of how being a mom and an entrepreneur have contributed to the each others success, let's talk about time management.
Most women who consider themselves a mompreneur are running an online business, which means they get to make their own schedule. As a mom working out of your own home you know that work life balance is not a reality when you are your own boss.
What actually ends up happening is that you become a master at blending the two worlds in a way that makes your family and home part of your online business world so that clients and co-workers understand when your family needs you. You do the same sort of blending with your family and find out that even your kids will become your biggest hype men when you are having a bad day and ask you "why you are always on your computer", when you're on a roll.
The invaluable lesson I've learned is that not only do I rely on fellow moms daily to run my businesses, but the sought-after efficiency and effectiveness in completing tasks makes a mompreneur an indispensable asset.
Moms understand the preciousness of time and deliver a job well done. Moms have great business ideas because they have had to be masters of invention, sometimes out of necessity and other times through interaction with other people's children that might give them a few ideas that their stay at home mompreneur is doing to make life easier. You gotta love a good supportive mom community.....if you have one....hang on to it with both hands. It's not everyday that you find a group of other women you can trust with your children who are supporting your success by standing with your kiddos at the buss stop or looking out the window while your kids are outside to make sure they are not in the street. Little things add up to big outcomes.
According to Gusto, a payroll and employee benefits company, an astounding one in three women-owned businesses is operated by a mom, totaling almost 4.7 million businesses worldwide.
Further research by Gusto sheds light on the motivations driving women towards entrepreneurship:
Control Over Work Schedule (58%):Â Moms crave flexibility, and entrepreneurship provides them with the autonomy to manage their work schedules according to familial needs. Time these days is in high demand, a precious commodity and a first priority to those in the work world.
Legacy Building (24%):Â A significant portion of women entrepreneurs aim to establish businesses that can be passed down as a legacy to their children, ensuring a lasting impact. This often includes creating a thriving business in the travel industry, home staging, event planning or a dropshipping business.
Financial Opportunities (37%):Â Seeking improved financial prospects is a driving force for many women venturing into entrepreneurship. Mompreneur business ideas lean towards lucrative business ideas in the online services industry. This includes things like search engine optimization, grant writing services, freelance writing or starting a home health care business.
Job Loss (19%):Â Some women are thrust into entrepreneurship due to unforeseen job losses, pushing them to explore alternative avenues. Many women have seen job loss as an opportunity to jump into making money online. They usually get their feet wet with virtual assistant services, building online courses as a coach after deciding on a target market, building affiliate networks, using their writing skills to create content online or become a private tutor.
Limited Job Prospects (9%):Â A smaller percentage turns to entrepreneurship when traditional job opportunities are scarce. When jobs are unavailable a local mompreneur may lean more towards offering a necessary service that might not otherwise be available. Some of these opportunities include opening a small business in interior design a mobile hair salon, becoming a makeup artist or if they have teaching experience working in the local school system. Because having a business idea these days means having your own website and social media accounts these ladies may also branch out online once they get a taste for the opportunity. Most will start out as virtual assistants, freelance writing, content creation and general freelance work generally on a contract basis.
These may also be the ladies who take a stab at mommy blogging, parenting blogs, and graphic design.
American Express, in its research, highlights the success of women as entrepreneurs, attributing it to their ability to identify market gaps and innovate to meet those needs. Women are uniquely positioned to turn extra money into a steady stream of online income as successful mompreneurs.
In my personal journey, both my mother and I identified needs in the market and founded businesses to address them. From a Virtual Assistant Agency providing protection and oversight for employment connections to a local $1 Auction meeting the needs of budget-conscious moms.
Beyond meeting market needs, women entrepreneurs bring a natural flair for innovation, turning ideas into actions. Once potential clients or potential buyers are brought into the fold, women have the unique ability to keep them their through thorough research and attention to detail.
I'm raising my sons with the understanding that, in any team, seeking out women as idea generators ensures swift and successful execution (mothers of daughters...you're welcome).
Moreover, women entrepreneurs possess a unique set of soft skills, translating into exceptional management abilities. These skills not only motivate staff and attract repeat customers but also transform workplaces into cherished environments through emotional intelligence, effective communication, and personal connections. Which is exactly what a stay at home mom brings to the environment she builds with her own children.
The rise of mompreneurs is a testament to the unmatched strength, adaptability, and innovation that women bring to the entrepreneurial landscape. Their impact extends beyond business success, shaping a future where the qualities of mompreneurs are recognized as essential for growth and success in any endeavor.
If you're a mompreneur looking for additional passive streams of income, join the $1 Auction Nation
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