Thinking of becoming a momtrepreneur?
Provided by Business Partners Ltd, South Africa's leading investor in SMEs
Many mothers are hesitant to become entrepreneurs because they're afraid of the many risks involved and that it will do their family life more harm than good. These are valid concerns, but there are also good reasons for why starting a business may do exactly the opposite.
Tough economic times, retrenchment, the need for change... whatever your reason, you may be thinking about starting your own business. But how do you include the title of 'businesswoman' into the many responsibilities that come with motherhood? The other concern is that if your venture fails, you may be taking food out of your children's mouths.
If you think you have an entrepreneurial spirit or a business idea that could work - but you just aren't sure - here are some things to consider that may help you decide which fork in the road to take.
- What are you good at? Make a list of your interests, experience and expertise. Also, successful entrepreneurs will agree that if you're not passionate about any of these things, scratch them off the list. If you don't love doing it, you're probably not going to make a success of it
- Do you have what it takes? This will always be a fear for anyone thinking about risking it all to start their own business. The fact is, parenting is the toughest business in the world. You already have courage, determination, patience, perseverance, intuition and resourcefulness; all traits of business moguls
- Are you self-disciplined? When you dictate your own working schedule, can you resist the urge to take the day off to spend with the kids, to sneak in an afternoon nap or leave things till the last possible moment?
- Is your current income cutting it? If you're worried about your job security, need an extra income in the house, want to earn more or simply want to sign your own pay-cheque, opening your own venture may be the way to go
- Less red tape: During an economic slump, small businesses often fare better than larger corporates because they can make changes, cut expenses, add/drop products and so on without having to consult 20 different people or departments
- What ifs: If you think about it long enough, you could probably find 100 things that could go wrong with your own business. However, any entrepreneur will tell you that no business exists without bumps in the road. If it were easy, everyone would do it. If you truly believe in yourself and have the drive, the desire and the right business idea, you'll overcome any stone that's put in your way
These aren't the only issues you need to consider, but they should get you into the right frame of mind to sit and write down all the pros and cons. If starting your own business feels like the right thing to do, explore this site to find out where to start.
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