What Are The Steps To Personal Financial Success As A Mompreneur?

No longer is there any stigma attached by society to women who are devoted mothers but who also sustain very successful careers. In fact, it has been a feature of business life in the 21st Century, that there are greater numbers of women entrepreneurs who balance business success with the demands of successful motherhood and family life.

There are many reasons why mothers work, some want to work because they enjoy it and are happier and better parents if they are not a 24/7/365 stay at home mom. Others have to work to help make ends meet. Sometimes moms get to make a choice for no other reason than they can either stay home or work, it makes little or no financial difference.

Working motherhood is no longer taboo – in fact, it is celebrated. Some of the most well-known women in showbusiness such as Adele, Beyonce and Cate Blanchett are committed mothers, and if you watch late-night television chat shows like The Late Show with Stephen Colbert you will regularly see women celebrities who are pregnant and new moms appearing on the show, and most talk about their parenting stories.

You may say that it is okay for these rich and powerful mothers to run their successful careers, they can afford it. But as you will see in this article, many moms who are neither famous or powerful are creating a new category for women in business – the mompreneur. You will find out how and why the ranks of these ambitious moms are growing every year and contributing millions of dollars to the economy.

What Is a Mompreneur?

The word ‘mompreneur” has been defined by the Business Dictionary Com as” a multi-tasking mother who can balance both the stresses of running a home-based business as an entrepreneur and the time-consuming duties of motherhood at the same time”. Very often, the women in question change their careers and decide to build their businesses from home.

Take the amazing mompreneur story of Lisa Stone, who back in 1997 (and only 18 months after giving birth of her son and being then recently divorced), decided to quit her journalist job at CNN and seek a more hours-friendly role. She then decided to go into what was then the brand-new world of online media and created the online media community for women. BlogHer.com .

Lisa told her story in a video for Makers: “I took advantage of finding myself in Silicon Valley as a single mother with a one-and-a-half-year-old and went for it. People in Silicon Valley were saying ‘Women will never go online.’ and I thought, ‘That’s crazy talk!’ I have a 1-year-old. I’m a single mom. I’m working. My only life is online.”

Her site has since become one of the largest online communities for and by women and mothers and reaches around 100 million women every month.

So How You Decide To Be A Mompreneur?

Do you want to join the ranks of the almost 10 million women who own businesses today? Without a doubt, mompreneurs feel greatly empowered and liberated by running their own businesses, but both motherhood and entrepreneurship bring major challenges, not only in your business but also in your personal life. You will become more easily distracted by your business affairs, and so it is helpful to seek online family counseling to make sure that you remain mindful and present for your spouse and children.

So here we are considering. the initial steps you can take to help you decide that entrepreneurial motherhood is right for you.

First off, if you are worried that working motherhood might be harmful to your children’s development, take some comfort from this research.

According to a study by Harvard University professor Kathleen McGinn and others, the daughters of working mothers earn 23% more than daughters of stay-at-home moms in the U.S based upon research by Ms. McGinn and others, who studied 50,000 people from 24 countries. They used data from two International Social Survey Program surveys -- one in 2002 and one in 2012 -- as well as local surveys and found very consistent results in both.

Even more encouraging for you, are the findings that worldwide (even after the researchers made adjustments for cultural discrepancies in different countries), adult women who grew up with a working mother are not only more likely to be employed, but they are also more likely to hold supervisory positions than women who grew up with stay-at-home moms.

The takeaway here is that working moms are rightly regarded as role models, and their children kids absorb various lessons from them.

Finding Success As A Mompreneur

Okay, so you know that you want to be a mompreneur – but what should be the first matters for you to consider before making the leap? Here is a quick summary:

1. Are You Passionate?

 Consider the drastic lifestyle changes that will be required and that you will have two all-consuming pulls on your time in two opposite directions – your business and your children. Is your proposed business commercially viable, and are you passionate about the subject matter? Maybe you want to become a renowned fashion designer, or you want to design online courses and consult from your home office. Perhaps you want to achieve personal financial success with Hyrecar Maybe your drive and motivation come from being in dire financial straits and you are determined to build a better life for our family. Passion is a great stress reliever when it comes to working hard and perhaps being pulled away from your loved ones.

2. Assess Your Priorities

Set yourself a doable list of daily goals and take account of the inevitable interruptions that you will have. Then prioritize what is most important, and focus upon those tasks You can rarely go wrong by asking yourself the three questions, “What do I really want?”, “Why do I want to do it?”, and “How am I going to do it?”, every day. You will then get even faster at getting things done with clarity.

3. Do Your Research

You can learn so much by following other successful mompreneurs – look for success stories online, listen to their podcasts about their struggles, get tips and even buy their online courses. Emulate the best parts of what they do, use their best ideas and actionable strategies.

4. Be Yourself

Whilst you can learn so much from successful mompreneurs, no-two businesses are the same, and in this day and age, people follow and buy from the person, not the business. Experiment what works best and gets the best response from your target audience and customers. Be prepared to adjust your processes and offerings to meet the needs of and demands from your customers, no matter what business you choose.

We hope these insights inspire you to think about the pros and cons for becoming a momprenuer, and that you reach for the benefits that it offers, that will transform you and your family’s lives.