Being a mom is no walk in the park, especially when you’re also an entrepreneur.
A recent study reveals 71 percent of mompreneurs still serve as the primary childcare provider. They regularly put in a “second shift” after kids go to bed. They are also more likely to sacrifice working out and socializing over missed family time.
Profile of The Average Mompreneur
Most mom respondents (57 percent) start their business venture at age 40 or older. They also tend to wait a while before setting up their business. On average, the first child at the time of starting their business is six years old.
As far as their marital status is concerned, most mompreneurs (79 percent) are married. Ninety-five percent in fact have a partner who brings in an income.
Priorities of Mompreneurs
To juggle home and business, mompreneurs tend to make certain sacrifices. Most cited “less time working out” (67 percent) as the biggest sacrifice they have had to make.
Many mompreneurs (64 percent) also said they now have less time with friends. They do not however compromise on sleep and family time.
The study also found fewer mom entrepreneurs (19 percent) secured any outside funding for their business venture. Male entrepreneurs on the other hand, were found to have raised $100,000 or more for their business.
It is however important to note that mompreneurs often have the support of a network of fellow entrepreneurs.
Tips For Mompreneurs to Avoid Feeling Guilty
Balancing family and business can be tricky, particularly when you have young kids at home. But it doesn’t mean you can’t do both without feeling guilty or helpless.
Several successful mom entrepreneurs have excelled at balancing both their worlds. If you take a page out of their books, you will find sharing life lessons with family is a great way to connect with them. Talk about your successes and lessons from failures to inspire engagement and communication.
Another tip is to get your kids involved in the business. Think how your children can support you. It can be something as simple as sorting products.
About the Study
Online graphic design marketplace 99designs surveyed more than 1,290 male and female business owners with at least one child under 18 from the U.S., Europe and Australia i compiling its report.
For more information, check out the infographic below:
Mompreneur Photo via Shutterstock
The main reason why they are looking to make some money on the side is so they can take care of their kids while working.