Since starting my first business 14+ years ago, I have always been a mumpreneur, as in mum + business owner. Therefore, I cannot say how anything would have turned out if I wouldn’t be a mum and entrepreneur simultaneously.
I can however evaluate how it has changed with each of my three children growing, which from my standpoint has become easier over time, as each child has become more independent, and as a result has given me greater flexibility overall.
In a recent study report from the Centre for Entrepreneurs, Sarah Fink (2015) elaborates “The women interviewed say they consider a wide range of factors when it comes to growing their business. Many focus strongly on corporate responsibility and their contribution to society and their local area. Very few are willing to risk staff for the sake of growth…. We also found evidence that entrepreneurship enables women to have children, more so than the C-suite. Female executives are less likely than male executives to have children at home or in university, but the reverse is true among entrepreneurs. 55% of C-suite executives have no dependents, compared to 42% of female entrepreneurs.”
In my opinion the general issue of finding great childcare applies to all working mums, as in any case the provider has to offer a warm, home-like care at an affordable price and should, in a best case scenario, be at home, or in close proximity to home or work, to minimise the drop-off and pick-up time.
Here is my view of perks and drawbacks of being a Mumpreneur;
Perks of being a Mumpreneur include:
- Flexible working, during naptimes for instance, super early in the morning, night or weekend, depending on everybody’s needs and wants
- The ability to work around commitments, my kids and home
- Work-Life balance, as for instance an online based business can be taken anywhere in form of a laptop or other mobile device
- No income ceiling, as price ranges and profits can be set and influenced by the entrepreneur and are not determined by a pay grade or job position
- Free-flow of creativity, as I have been able to use my passions to craft products and services that provide value for my customers and clients
- Becoming an inspiration for your kids, especially girls
Drawbacks of being a Mumpreneur include:
- No or limited predictability of income, other than sales forecasts and determination
- Full responsibility, for all decisions about the business, as opposed to a position within an organisation were job decisions may not have an effect on the entire organisation
- Analysis paralysis, as all choices and decisions may affect the business and family
Let me know what you think.
All the Best & Speak to you tomorrow,