Of the 110 working moms I interviewed for my book, about 62 percent worked for someone else, both in large and small business settings. The other 38 percent had started their own businesses. Many started a business because they couldn’t find the balance they craved, so they created it. If you’re a working mom considering entrepreneurship and its positive impact on work-life balance, this is for you.
You’re not alone
There is no question that 2020 was a rough year for working moms. More than 2 million women, often working mothers, left the workforce. For many, the need to manage all the things was too much. Trying to maintain a job and manage remote learning for their children was too much for some mothers who weren’t finding support at work and at home. Thankfully, the pandemic pulled back the curtain on the challenges of working motherhood.
Entrepreneurship isn’t for everyone
As a two-time entrepreneur (I own two unrelated businesses and have for years), I’m a big fan of entrepreneurship. I’ll say something that might be unpopular but entrepreneurship isn’t for everyone. You’ll see the message all over the internet that anyone can start a business. I absolutely don’t agree. If you realize that it is the right fit for you, entrepreneurship and work-life balance work well together long-term.
If starting a business is not your cup of tea, it’s OK because more and more companies are being flexible. The pandemic helped fast forward the acceptability and likelihood of flexibility at the workplace. Don’t feel that starting a business is your only choice. Maybe you need to change employers or even industries to create the work-life balance you crave.
Challenges of entrepreneurship
Being an entrepreneur isn’t all rosy, though. In the beginning, entrepreneurship is often hard. The things I heard in the interviews related to the challenges of entrepreneurship fell into a few different areas: uncertainty, challenges with risk, having a unique idea and the right tools, and constant business development. You want to be prepared for these challenges (and plenty of others) and there are lots of resources to help you tackle them. I especially appreciate the advice from Kathy Galloway, one of the amazing entrepreneur working moms I interviewed. She has some really great advice for women wanting to start a business.
Benefits of entrepreneurship
OK, so we’ve talked about some of the challenges you’ll face, especially as it relates to the mom entrepreneurs I interviewed. There is no doubt that being an entrepreneur can be hard work, especially in the initial stage. There are many benefits though, starting with building the business you want at your own pace. The top 5 benefits I heard in the interviews were: more time with family, flexibility, more satisfaction with and general happiness in their lives, more options, and balance. And let’s not forget the financial side of things, where you can potentially work less and make more, is a major draw for some wannabe mom entrepreneurs.
5 Tips to help you with the transition to entrepreneurship
You’ve read the pros and cons and you’re ready to take the leap. I’ve got 5 tips to help you on your entrepreneurial journey, especially as it relates to work-life balance. These are 5 of the top tips from the advice I heard most often from the entrepreneurs I interviewed about helping other moms find work-life balance when you’re the boss.
Network (#1 tip from moms I interviewed)
Networking is important for entrepreneurs. Even before you leave a full-time job, start networking. The concept of networking is integral, no matter where you are on your entrepreneurial journey. Start talking to people about what you’re looking to do. Talk to people about what you’re working on. Share ideas on solving their challenges. Ask for an introduction if your product or service doesn’t apply to your own network but it might apply to their network. Consider how you might be able to collaborate with people you know or meet.
Networking can also help you move along on your entrepreneurial journey. And, if you’re networking, you likely have to take less time to find those initial clients. Moving forward and establishing a business will help you move closer to the work-life balance you crave.
Need some help with networking? The whole month of April will be about networking and strategic work relationships, so take this as an intro! You can also grab my Network Where You Are Guide.
Understand your motivation
Understand why you’re making the change to entrepreneurship. Do you want more time with family? Are you looking for more flexibility and/or control of your schedule? Let the answers to those questions guide how you set up your business and how you manage your time. It can even help you figure out what to look for in potential clients.
How do you figure out your what’s motivating you? Ask why you want a change. You know your motivation (e.g., spending time with your kids), but what is the “why” behind that? Ask “why” a few times to the real answer behind your motivation. Struggling with this? The Know Your Why Guide can help.
Create structure
Life as an entrepreneur is easier if you’re organized. I’m talking personally and professionally. Moms talked about organization and creating structure as it relates to their workspace, calendar, and time management. They recommended keeping things consistent. It saves time and effort if it’s all organized. Plus, at least in my case, it’s also less distracting. I have a hard time working at home when things are all over the place.
And part of your structure is how you work. Understanding how your time is best used can be incredibly important for your short- and long-term success as an entrepreneur. Think through how you work best and schedule your time with that in mind. Understanding how you work – your natural rhythm – and even where you’re most productive make a difference in your productivity and overall abilities. I write a lot about this in a post I wrote on productivity methods. Figure out your natural rhythms and plan accordingly to work smarter and maximize your time. (I share a lot about my own time management and productivity hacks that have helps me as an entrepreneur and mom. Read out my recent blog on the time management and productivity hacks that I use daily).
Find your passion
Moms who I spoke with, especially those who started businesses, shared that if you’re going to be away from your kids, it should be doing something you love. Find that passion and figure out how to make money from it.
And, yes, this helps with work-life balance. You’re able to figure out when to work and when to play and it’s OK when the two blend a bit because you truly love what you do. (Hint: you’ll have times that are much more work-focused and you want that time to be something you really care about so that you don’t feel guilty stepping away from your family to get work things done.)
Get help
Working as an entrepreneur isn’t easy. Don’t feel the need to go at it alone. Even in the most basic way of you need someone to watch your children, especially if they’re really young. You still might need help with household duties, like a housekeeper or even a grocery delivery service. Figure out what you need and hire the help. You won’t regret it!
And, for some women, they needed help on the business front, especially when trying to be an entrepreneur and do everything associated with their families. Getting help, most often in those areas in which you don’t have expertise (e.g., social media, bookkeeping, etc.), was something these moms did regularly. Figuring out the help you need and the minimum and maximum number of hours of help you need is key. And know in which areas you can make trade-offs and in which areas are must-haves.
3 final thoughts to get your started
- Know the problem you solve. It sounds easy, right? It’s not. You must understand your target market, what challenges they face, how you help them overcome these, and how you’re different from your competitors.
- Get your financial ducks in a row. You might have a decade or more of experience in the corporate world and still struggle to find clients. Have a financial nest egg in place that you can tap into. That could be to hire resources to move you along (remember the get help suggestion from above) or it could be to pay expenses you might have before getting your first client.
- Break everything down into smaller bites. You want to break down everything on your to-do list for building your business into smaller chunks. Ideally, break things into things you can do in 10-15 minutes. For example, you shouldn’t put on your list that you need to develop a website. Instead, put down to decide the tabs on your website. Then you want to decide the things that make you unique that you’ll mention on your About Me page and write down those bullets. Then another to do is to write the About Me 1st paragraph (or whole page first pass). You get the idea. Small things you can keep moving forward on.
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What business would you like to start? What steps are you taking to make that happen?
Been in business for a while, what tips do you share with someone starting out? What tools have you used to make things easier in your business or life in general? How are you bringing together entrepreneurship and work-life balance?
If you want more information on entrepreneurship and on work-life balance, check out the Mompowerment book, available on Amazon (affiliate link).
