What is a Mompreneur?
Bringing up little ones is a full-time job in itself, so when busy moms are working and earning a living, it’s effectively like having two jobs. When a woman sets up and runs her own business on top of caring for her young child or children, she’s considered a ‘mompreneur’, an inspiring figure for sure, who’s faced with many rewards, as well as challenges.
Starting any new business takes dedication, time, energy and money, as does being a mom. By balancing the demands and stresses of running, typically a home-based business, as an entrepreneur, and the hectic, time-demanding responsibilities of being a full-time mom, mompreneurs are the epitome of multitaskers.
Despite the many challenges of balancing motherhood and family life with running a business, millions of women around the Unites States are successfully combining the two.
Current Mompreneur Trends
According to statistics, about one in three small business owners in the United States are mothers. Not only this, but women are starting their own business at a rate that’s nearly twice as fast as men, meaning the current mompreneur climate is all but unstoppable.
Research shows that with 57 percent of mompreneurs starting their business venture at the age of 40 or over, mompreneurs tend to be waiting a while before setting up their own business. The average age of the first child tends to be six before a mompreneur embarks on her business venture.
The majority of mompreneurs – 79 percent – are married and 95 percent have a partner who earns an income, meaning most mompreneurs are not the sole breadwinner in the family.
The same study, carried out by the online graphic design marketplace 99designs in 2017, found that 79 percent of mompreneurs have 1 – 2 children and 71 percent are the primary childcare provider.
TrendStatistics and Findings
Percentage of MompreneursApproximately one in three small business owners in the United States are mothers.
Entrepreneurial Gender GapWomen are starting their businesses at a rate nearly twice as fast as men.
Age of Mompreneurs at Start57 percent of mompreneurs begin their business ventures at the age of 40 or older.
Timing of EntrepreneurshipThe average age at which mompreneurs have their first child is six years before starting their business.
Marital StatusA majority of mompreneurs, 79 percent, are married.
Partner’s Income95 percent of mompreneurs have a partner who earns an income, indicating they are not the sole breadwinners.
Number of Children79 percent of mompreneurs have 1-2 children.
Primary Childcare Providers71 percent of mompreneurs serve as the primary childcare providers.
Challenges Mompreneurs Face
Naturally, juggling looking after young children with starting and running a small business, is not without its ups, downs and challenges.
Managing Your Schedule
One leading challenge almost every busy mompreneur is faced with is managing their schedule. With little ones to look after, finding the time to get on with business-related tasks isn’t easy. Successful mompreneurs tend to work accordingly to their biological clock. For instance, if they are a morning person, they’ll get up early and work on their business before the children wake up.
Switching Off from Work
Another leading challenge of mompreneurialship is knowing when to switch off. Completely stopping work might sound counterproductive but it can prove a godsend in gaining a better work/life balance, reducing stress levels and recharging your batteries for the next working session.
Asking for Help When You Need It
Mompreneurs might be multi-tasking, superheroes but with a million and one things to do each day, it’s important working moms know how to ask for help when they need to. Knowing when to ask for help, whether it’s having someone look after the kids for a few hours or outsourcing certain business-related tasks, such as bookkeeping and tax returns, help multi-tasking mompreneurs to not only keep their sanity but maintain a more successful, sustainable business.
What’s Available to Mompreneurs
When being the primary care provider of the children and running your own business, it’s not uncommon for busy mompreneurs to feel like they’re on their own. However, it’s important to know that you’re certainly not alone and there is help and support available for ultra-busy working moms.
Books for Mompreneurs
Once source of help and support can be found through books. There is a whole host of books written for mompreneurs themselves, designed to help fellow working moms manage their time successfully, gain a better work/life balance and generally reduce stress and create a thriving business whilst bringing up children.
Mompreneur Blogs and Publications
Another source of support for mompreneurs can be found in blogs, magazines and other publications.
WAHM.com is a popular online magazine for work-at-home moms. The site features a wealth of information and support to work-at-home moms through a collection of informational articles and tips lists.
Working Mother is another credible digital magazine aimed at mompreneurs, providing sound advice on successfully juggling a career, business and motherhood.
What Businesses Are Ideal for Mompreneurs
With little ones to look after, mompreneurs typically start businesses they can operate from home. Some of the most common types of businesses for work-from-home moms include:
Arts and crafts designer
Online course tutor
Social media marketer
Beauty product seller
Some of the most successful, iconic and inspiring women in the world have been or still are mompreneurs, mastering the art of combining child rearing with running a business including:
Mom of two Ariana Huffington is one such figure, who teamed up with Time Warner’s former AOL executive Ken Lerer in 2005 to launch a new outlet for political conversation. Henceforth, the Huffington Post was born and has never looked back.
Another famous and globally-admired mompreneur is Harry Potter author J.K. Rowling. Rowling’s story is exceptionally inspirational. Despite extreme poverty, the single mom wrote the legendary stories of the fictitious world of Harry Potter, when her youngest daughter was not much older than a baby.
In 1995, mother of two Zhang Xin co-founded Beijing Redstone, now SOHO China, with her husband. The company has gone on to be the largest real estate developer in Beijing – not bad for a work-from-home mom of two!
Navigating the Challenges: Strategies for Mompreneurs
Being a mompreneur comes with its unique set of challenges. Here are some strategies to overcome them:
Managing Your Schedule:
Align your work hours with your biological clock; if you’re a morning person, utilize early mornings for work.
Prioritize tasks to focus on essential activities that drive your business forward.
Switching Off from Work:
Establish boundaries for work hours and stick to them. This helps maintain a work-life balance.
Regularly take breaks to recharge, reduce stress, and return to work with renewed energy.
Asking for Help:
Don’t hesitate to seek assistance when needed, whether it’s childcare for a few hours or outsourcing certain business tasks.
Delegate responsibilities to trusted individuals or consider co-parenting arrangements to share childcare duties.
Utilize Available Resources:
Books for Mompreneurs: Explore books tailored to mompreneurs, offering valuable insights into time management, work-life balance, and stress reduction.
Mompreneur Blogs and Publications: Leverage online resources, such as blogs and digital magazines, like WAHM.com and Working Mother, for advice and support.
Online Communities: Join online communities and forums specifically designed for mompreneurs to connect with like-minded individuals and share experiences.
Networking: Connect with other mompreneurs for mutual support and exchange of ideas. Attend local business networking events or join online groups to expand your professional network.
Professional Development: Invest in your skills and knowledge through online courses, workshops, or certifications relevant to your business. Continuous learning enhances your business acumen.
Time Management Tools: Utilize productivity apps and time management tools to optimize your work hours and stay organized.
Self-Care: Prioritize self-care routines that promote physical and mental well-being, such as exercise, meditation, and sufficient sleep.
Financial Planning: Maintain a clear financial plan for your business, including budgeting and saving strategies, to ensure long-term sustainability.
Flexibility and Adaptability: Embrace flexibility in your business model and adapt to changing circumstances. Being open to adjustments allows you to stay resilient and responsive to market dynamics.
Managing Your Schedule- Align work hours with your biological clock.
– Prioritize essential tasks for business productivity.
Switching Off from Work- Establish boundaries for work hours.
– Take regular breaks for stress reduction and rejuvenation.
Asking for Help- Seek assistance when needed, such as childcare or outsourcing tasks.
– Consider co-parenting arrangements to share childcare responsibilities.
Utilize Available Resources- Explore books tailored to mompreneurs for time management and stress reduction.
– Leverage online blogs and publications for advice and support.
– Join mompreneur-focused online communities and forums for networking.
Networking- Connect with fellow mompreneurs for mutual support and idea exchange.
– Attend local business networking events or participate in online groups.
Professional Development- Invest in online courses, workshops, or certifications to enhance business skills.
Time Management Tools- Utilize productivity apps and tools to optimize work hours and organization.
Self-Care- Prioritize self-care routines for physical and mental well-being.
– Include exercise, meditation, and adequate sleep in your routine.
Financial Planning- Maintain a clear financial plan, including budgeting and savings strategies.
Flexibility and Adaptability- Embrace flexibility in your business model and adapt to changing circumstances.
– Stay open to adjustments to remain resilient in dynamic markets.
Mompreneurs are a remarkable group of women who navigate the demanding worlds of motherhood and entrepreneurship. As we delve into the trends, challenges, and success stories of mompreneurs, it’s evident that these individuals embody resilience, creativity, and dedication.
While the journey is not without its hurdles, such as managing schedules, achieving work-life balance, and knowing when to seek help, mompreneurs have access to a wealth of resources and strategies. From books and online communities to time management tools and self-care routines, these women are equipped with the tools to overcome challenges.
As the statistics reveal, the mompreneur trend is on the rise, with more mothers starting businesses at an age when they have valuable life experiences to draw upon. These women often share childcare responsibilities and have partners contributing to the family income, fostering a supportive environment for their entrepreneurial endeavors.
Mompreneurs operate diverse businesses, from arts and crafts to digital marketing, illustrating the versatility and adaptability of their ventures. Their ability to excel in multiple roles serves as an inspiration to aspiring entrepreneurs, demonstrating that with determination and the right strategies, it’s possible to thrive both as a parent and a business owner.
In the world of mompreneurs, iconic figures like Ariana Huffington, J.K. Rowling, and Zhang Xin have blazed a trail, proving that motherhood can be a source of strength and inspiration for entrepreneurial success.
As we explore the strategies for mompreneurs to overcome challenges, it’s clear that a combination of effective time management, self-care, networking, continuous learning, and adaptability is key. By embracing these strategies, mompreneurs can continue to excel in their entrepreneurial journeys while nurturing their families.
The mompreneur phenomenon continues to evolve, and these women are a testament to the power of determination, resourcefulness, and the ability to turn challenges into opportunities. As they navigate the unique path of being both moms and entrepreneurs, their stories inspire us all to pursue our dreams while cherishing the joys of motherhood.
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