It’s difficult being a parent and a business owner, right?
You’d be happily surprised to hear that a survey conducted by Yell Business revealed that 79% of parents believe that their business is very successful as compared to 67% of non-parents. This can be explained through a number of differences between both parents and non-parents:
- Parents usually spend more time at home as compared to non-parents often spend most of their time at work. This gives parents the time to dream and even establish their own business;
- Parents have a bigger motive: securing the future of their children. Motivation is one of the key factors to a successful business.
- Parents usually have a bigger social network thanks to their children and the countless birthday parties.
- And then there is the age and experience factor. Running a business couldn’t be more difficult than dealing with a troublesome two’s.
It’s not too late to start your own business. Rather, it could be the best time for you.
We talked to a few parentpreneurs, a new term found to explain parents who are also entrepreneurs. And they came up with these tips for new parentpreneurs:
Learn to Switch Hats
If you want to be a successful parent and a business owner, then learn to compartmentalize. At your job, don’t fret about homework, school lunches, and picnics. Likewise, when you meet your children give them your full attention.
Involve your Children
If you can’t go around your children, then involve them. Ask them for their input about a new idea or a design. If they are old enough, get them to do the packing or manage the inventory. Many successful parentpreneurs involve their children to make it crazier.
Define Your Brand of Success
Before starting your own business, define the markers for success. These could be profits, a creative outlet, or a number of stores or clients. Once you have defined these markers, you’ll have a better idea of when to stop and relax. Don’t let your business run the show.
You probably left your 9 to 5 because it seemed impractical after having kids. This won’t change when you start your own business and you’ll have to manage with that. You may have to sneak in business hours before your kids wake up or after they go to bed. Work your schedule to suit your parenting work. If you learn how to successfully get the time, you’ll be surprised the number of hours you can actually work.
Learn to say No
Imagine you’ve started your own business and it’s growing at a rapid pace. You’re getting orders from everywhere and there is this continuous need to expand. You are feeling that if you say no, you’ll lose business. But my advice would be to think it through. Can you do it all? Probably, not. Don’t let someone talk you into doing something you know will impact your life and children. Know your limits and stick to them. This way you won’t disappoint yourself or your clients. Be content with what you have. There will be time for expansion later on but probably now’s not the right time.
What are some other ideas you have for balancing your business and family, message me today!