Today we’re here to explore the benefits & risks or pros and cons of mompreneurship. There are unique challenges and advantages that come with being a mom and an entrepreneur.
So whether you're already in the thick of it or you're just getting started or you're thinking about creating a business, this blog post will give you some good insights. We all want to know that we're on the right path and we also want to plan, so knowing the good, the bad, and the ugly of what we're pursuing can be helpful so we can be prepared.
What is Mompreneurship?
First let's define what a mompreneur is. Whether you love the term or you hate it, it's a term that gets used a lot combining the word mom and entreprenuer and it is described as a mom who runs a business in addition to caring for her children and other responsbilities. You've probably noticed there's been an increased in mompreneurs because of the uptick in the number of women who have created business while raising a family. And in many cases, motherhood inspires ideas to create a business. So if you haven't figured it out already, "mompreneurship" combines the word mom with entrepreneruship 😊
There are so many types of business and industries mompreneurs are creating like, blogging, handmade products, graphic & web design, photography, virtual assistants, consulting, personal training, accounting, event planning, coaching, etc. It's an exciting time to be a mom and own your own business, but let's talk about both the pros & cons.
There are many advantages like the flexibility that comes with running your own business, and the unique insight that moms can bring to the table. And the financial benefits that are possible by launching a business and becoming your own boss. Here are just a few of the pros:
Benefits of Mompreneurship (this is when all the stars align at some point):
- Flexible Schedule: Being a momprenuer allows you to work when it fits into your life, so you can spend more time with your family and take care of your needs as well. This can mean different things for different moms – for some, it might mean working during nap time or late at night, while for others it might mean working from home or being able to set their own hours.
- Work-Life Balance: Working from home allows you to have more control over your time, so you can create a work-life balance that works for you.
- Financial Independence: Owning your own business can provide you with financial security and independence. You can create and sell products or services that suit your own goals and needs, and you don't have to rely on anyone else for your income.
- Creative freedom: Being a mompreneur also allows you to have more creative freedom than working a traditional job. You don't have to follow the same rules and regulations, and you can use your own ideas and creativity to create something unique.
- Pride and Accomplishment: Being a mom and business owner can be extremely rewarding, as you are able to create something from nothing and watch it grow.
But there's always a downside to what we do and there's no exception when it comes to mompreneurship.
There's potential disadvantages of being a mompreneur. There is the time crunch that comes with juggling parenting and business responsibilities. There's also financial risks involved in launching a business.
Risks of Mompreneurship:
- Stress: Starting a business can be stressful and challenging, and juggling motherhood and a business can be even more so.
- Time Management: Finding the time to balance your business and family life can be difficult. You may have to put in long hours and make sacrifices in order to make your business successful.
- Financial Risk: Starting a business can be risky, you may not make a profit right away or it will be inconsistent, and you may end up spending more money than you make.
- Isolation: Many moms work from how and working alone can lead to feelings of isolation and loneliness, especially if you're a people-person.
I hope this has given you a better understanding of the pros and cons of mompreneurship. Remember that the key to success as a mompreneur is to stay organized, prioritize your tasks, and find the right balance between parenting and business responsibilities. There are always was to mitigate the cons so I've put together a workbook called Getting Focused: A Mom Entrepreneur's Guide to Increased Productivity When Life is Absolutely Chaotic. Check it out as a starting point to feeling like you got the most important things done in your business and get back to mom duties with peace of mind.