Do You Have What it Takes to be a Mom Entrepreneur?

By: Kathy Buckworth
As seen on Sympatico.ca

How do you know if you’re ready for the world of the Mompreneur?  Danielle Botterell, co-author of the recently released book Mom Inc., shares some valuable advice.
The term “Mompreneur” has recently become part of the English lexicon, even landing a coveted spot in the Urban Dictionary.  It is generally considered to define a woman who has decided to take on the role of an entrepreneur, with the business itself being directly linked to either being a Mom (via a product or service targeted at that market), or running a company in which the role of Mom can be incorporated (i.e. working from home, flexible hours) into the business. 

But how do you know if you’re ready for the world of the Mompreneur?  Danielle Botterell, co-author of the recently released book “Mom Inc., has the following advice:

1) You know what you want:  Whether you want to strike it rich, fulfill a longstanding dream or just stay engaged in the adult world while home with your young kids, it’s important to have an idea of what you’re hoping to achieve from the experience.   If you don’t know what you’re after, it’ll be hard to know if you’ve succeeded!

2) You’re in the right place in your life:  You have strong support network of family and friends, and your partner is on board.  Even if you don’t start to earn money right away, you have a plan for paying the bills.  You’ve also worked out childcare for your existing – and future – children.

3) You’ve done your homework:  You’ve brainstormed ideas, listed the resources you have at your disposal, and thought about the best business venture for you.  You’ve researched your industry and your competitors to make sure there’s a real business opportunity in this idea of yours.  And you’ve mapped out a business plan.”

With these three basic tenets in place, there is still always going to be the unknown which defines whether you will achieve success in this field. In order to prepare for the unprepared-ables,  seasoned Mompreneurs advise that having a sense of humour, a thick skin, perseverance, patience, flexibility, enthusiasm, excellent time management and multi-tasking skills are invaluable assets. As well, Mompreneurs have to have the ability to adapt well to changing situations (whether they are business related conditions or caring for a suddenly sick baby, or, most likely, both happening at the same time), while maintaining focus and dedication to their targets.  While this job description sounds tough, in reality it sounds just like the basic skill set of being a Mom; great training ground for any Mompreneur waiting to give birth to her new business.

Think you’re cut out for it?  Take our quick quiz:

•   Your new baby is on the way. You’re going to take your maternity leave to launch your business because:

a. The baby will just lie there and you’ll be able to work all day
b. You have a pretty good idea of what you want to do, and you’ll have the time and flexibility to explore it at your own pace
c. You’ve already pre-arranged some daycare and have set hours to devote to completing the business plan

• Your new business idea is so great, you:

a. Don’t want to share it with anyone. They’ll just steal it.
b. Discuss it with close friends and family, swearing them to secrecy.
c.  Meet with others in the same business for mentorship and advice.

• You really need some help in getting some p.r. for your product.  You:

a. Throw the idea out on Facebook and YouTube and hope for “likes” and a viral experience.
b. Draft a press release; modeled on ones you’ve seen work in the marketplace.  Then post it on your own website, with links from Twitter and Facebook.
c. Send the press release directly to all social media, online and traditional media outlets, by email, with easy options for replies. You don’t ask; you don’t get.

• Your product/service is ready to launch! You:

a. Invite only A list media types to a private function. Why wouldn’t they come?
b. Invite a select group and find a few sponsors for food and drinks.
c. Invite everyone you know (friends, family, colleagues, media, Tweeps) after securing sponsors and a venue whose products and brand match where you want to be in the marketplace. You make sure the venue is logistically too small to hold everyone you’ve invited. (Sold out! Standing room only!)

• The first ten people you ask to support your product/business for marketing, financing, sales, promotion….turn you down. You:

a.Scrap the whole idea entirely. Obviously it was bad. Have a good cry.
b.You still believe in the product or service, but your delivery obviously needs more work
c.Take all the reasons why you received No’s, evaluate them objectively, tweak your   business plan and go for it again.

Mostly A’s: You’re still in basic training for this world. Keep working!
Mostly B’s: It’s finally starting to come together. Just a few more adjustments and you’re there.
Mostly C’s: You’ve got the right stuff.  Launch yourself into the Momosphere!

Kathy Buckworth is an award winning writer, public speaker, and television personality.  She is the author of five books, including “The BlackBerry Diaries: Adventures in Modern Motherhood” and her latest, “Shut Up and Eat: Tales of Chicken, Children & Chardonnay”. She is a feature writer for Sympatico.ca in their parenting, travel, and auto sections, and is also a columnist for ParentsCanada, Womens Post, Ottawa Families, Dabble Magazine, and GoodLife.