What is the Definition of Mompreneur
A mompreneur can be defined as a female business owner who finds balance between family and running her own business. Starting and running a business is difficult by itself. Family pressures increase with school, sports, and shopping. Because of these things, time management and delegation are critical.
Women in the Labor Force Statistics
According to the US Department of Labor (dol.gov), 70% of women with children under 18 participate in the labor force. 57% of women participate in the labor force. Women make up 26% of those employed in computer and math related jobs. According to Forbes.com, about 45% of entrepreneurs starting their own business are female.
Mompreneur Work From Home Business Ideas
In recent years, MLM and network marketing companies have been a popular option for mompreneurs and women who want to be their own boss. Some of these include:
- Gold Canyon Candles
- Heritage Makers
- Mary Kay Cosmetics
- PartyLite Gifts
Although many of these have low startup costs, network marketing is not for everyone. Some women want to offer unique products and services that are not available in the marketplace. They have developed creative solutions to personal or professional problems. Weili Dai was born in Shanghai, China, in 1961 and immigrated to the United States in 1979. She graduated from UC Berkeley with a BS in Computer Science before she co-founded and worked as a software developer for Marvell Technology Group (a semiconductor company) with her husband, Sehat Sutardja. She is a mother of 2. According to Forbes.com she has a net worth of $720 million.
Work From Home Ideas in the Finance Industry
Finance is a broad field that incorporates many occupations related to money. These include accountants, commercial bankers, insurance agents, financial analysts, mortgage agents, securities brokers, tax preparers and venture capitalists. Each one of these requires a different level of experience, education and certification. Also, many of these offer opportunities to work from home, especially with modern technology. Many tax accountants, financial advisors, tax preparers and insurance brokers can be mobile and work from a variety of locations. It is these types of jobs that lend themselves well to be able to work them from home.
10 Tips for Mompreneurs
Becoming a successful entrepreneur is difficult. It is even more difficult with family commitments. Being able to work from home is a dream for many mompreneurs, and it is possible. It is necessary, however, to shift priorities and how one approaches things. Below are some tips for how to improve in order to achieve the things desired.
Don’t try to juggle 30 items all at once. Identify and focus on those things that are most important. Prioritize your commitments and do those that are most important first. Successful entrepreneurs are not those who are everything to everybody. They are those who do a handful of things very well, and then keep doing them over and over and over again.
2) Pre-cook Meals
Develop a menu and do the shopping for food a week at a time. Prepare the sauces, slice the vegetables, and cook the meats. Refrigerate or freeze as needed. Make it easy to throw a meal together through the week.
3) Put the Kids to Work
There are tasks, both work and home related, that are appropriate for children of different age groups. Younger children (ages 5-13) can handle small jobs, such as cleaning their room, stuffing envelopes, feeding the pets, and filling the printer with paper. Older children (ages 14-18) can handle larger jobs, such as preparing meals, taking out the trash, making phone calls, and managing social media.
4) Find That Inspiration
Why get out of bed each morning and work long hours? Find that thing or person that motivates and drives you. Mompreneurs always have their children in mind. They want a better life and the resources to be able to do things. Create very specific objectives, such as getting a bike or buying a car. Create your dream list, then go out and fulfill them one by one. Remember that being an entrepreneur opens one up to many opportunities. As one learns to negotiate and trade, it becomes much easier to get those things desired for much less than retail price.
5) Make It Fun
There is a lot of creativity that goes into running a business. Use this to make it fun for oneself and the kids. Get them involved, whether it is in designing marketing material or practicing a speech.
6) Focus On Results
Spend the time working on objectives that generate revenue and move the business forward. Build your network of contacts. Develop systems to make it easy to collect and record money transactions. Follow up with clients and suppliers. Do not spend the time with things that do not enrich the company, such as determining which shade of blue to use on the website.
7) Lock the Door / Find a Babysitter
It is necessary to commit oneself the the business in order for it to succeed. Find a system that allows productivity and minimizes distractions. If locking the door, working in the garage, or finding a babysitter allows for it, then do what is necessary so that there is adequate time to focus on business.
8) Get Some Rest
Find time to rest, sleep, have date night and even travel. Spend some time away from the business. This allows for improved creativity and productivity over time.
9) Drop the Guilt
Women can be their own worst critics. Feelings of anger, frustration, helplessness and guilt can occur – and all at the same time. Do not try to be Superwomen. Do not feel guilty for not being perfect.
10) Put Health First
Good health is at the root of productivity and creativity. Develop good habits. Do not ignore the signs of exhaustion or illness.
Become a Mompreneur with 1040TaxBiz
1040TaxBiz offers an opportunity for entrepreneurs to open their own tax preparation business. 1040TaxBiz has cleared many of the time-consuming obstacles that often stand in the way of any startup company. Contact 1040TaxBiz at 317-543-5570 to learn how to open a tax preparation office this tax season.