Entrepreneurs often call their small business their "baby" because of how they've nurtured the company and given it so much love and attention over the years. But, a recent survey by Vistaprint shows that women are having actual children, even while they nurture and build their own startup "baby."
Perhaps the most interesting statistic in the survey is that over half the moms say that being a business owner makes them better parents. 94 percent of women said they feel like they're leaving a positive impression on their children, and 89 percent believe they are inspiring their children to start a business in the future.
Let's do a deep dive into some of the main themes and findings of the survey, and see how you can apply them on your journey to improve your small business.
"Mompreneurs" identified keys to starting and running their own businesses.
The Vistaprint survey revealed that women tend to start their businesses after marriage and after having children. Around 57 percent of the women surveyed started their businesses at over 40 years old. Most of the women were already married and had a partner with an income as well.
Participants cited certain key skills that are most needed to run a business alongside a family. They included organization, delegation, productivity, prioritization, self-care, and communication.
Organization is key to running a business because of the hectic schedule of being a primary caregiver and business owner. It's an important lesson for all small business owners. You need to work hard at prioritizing time for family, business, and yourself.
Surprisingly, many of the mothers said they are still able to get six to eight hours of sleep. Not surprisingly though, they do sacrifice other activities, such as making time for socializing or hobbies and exercising.
"Mompreneurs" have no shortage of challenges.
These mothers remind us how difficult it can be to nurture a solid self-care routine in the midst of growing a business. About 73 percent admitted to putting in a second shift after they put the kids to bed. And, the women who work full-time on their business work more than 40 hours a week.
Even though there are advantages to being a mother and business owner, there are challenges as well. About 44 percent of the moms did feel guilty about being a working parent, but most of them felt the positives outweigh the negatives.
Only 35 percent of the mothers started their own business for the money. Instead, 69 percent liked the flexibility of owning a business. Many also said they like feeling more in control of their life as well as having a greater amount of financial independence.
Many of the women also described feelings of financial instability however, especially due to client inconsistency. As mentioned, they have less time for hobbies and personal interests. Many of the women cited exhaustion as being a problem because of all the activity.
Entrepreneurial mothers may be better parents as well as founders.
Organized mothers often make better parents and business leaders because they have experience scheduling their lives and sticking to it. Successful business owners must stick to deadlines and stay highly organized too.
Because running a business takes up so much time, women who are mothers know the importance of delegating tasks. People who assign a spouse or other family members to do household chores may feel more comfortable delegating work duties to team members instead of trying to do it all themselves.
Business owners who are also moms therefore may be ahead of the game when it comes to making the most of their time. They may be more productive in general and get more done in less time. You can probably expect them to be sharper with time management than other employees or competitors.
Entrepreneurial mothers often make better parents because many skills that come with being a business owner are applicable to motherhood. Some survey participants said they even have more time for their families because of their flexible schedules.
Business owners who drive themselves too hard can learn a thing or two from these dynamic "mompreneurs." They're running a company while taking care of children. With a little organization and determination, you too can follow in their footsteps by cultivating more balance, building a more happy, successful life.