Questions

What advice do experienced, women entrepreneurs have for a new mom who is thinking of starting her own business?

I have a six month old daughter, and I have always wanted to start a business. I am thinking that now is the right time since I am not committed to a full-time job.

3answers

The most important thing is to make sure that your immediate network (Husband, family and friends) are able to support you. I have a 15 mth old and a 4.5 mth old and launched my company 1.5 years ago. It was busy, but it worked because I had people in place to help me (with the kids). The ultimate question is to ask yourself - your gut - if this is a f*ck yeah decision. Does it excite you? Are you motivated to pick away at this business when your baby is sleeping at night, napping or otherwise content?

Remember what it was like to hold your new baby in your arms; the joy, excitement and nervousness of what you're supposed to do? Well, starting a new business is the same. It's exciting and challenging, but there are resources (like Clarity) to help! Now IS the right time.

Good luck!


Answered 7 years ago

Great question.

I would recommend paying attention to your needs that are not being currently met in the online market place. Is there a service or product you wish you had that would help new mothers and fathers?

What ever the business you choose, make sure it is one you have intimate knowledge and experience in. Often times you can get caught in a fantasy of what it would be like to be in a business and not really focus on the reality of what you could actually accomplish.

So, with that being said, choose a business you have a passion for, have direct experience in and most important, never invest more than 30% of your savings into your business.

I have seen countless start ups do this and suffer. Starting and running a new business is a big gamble.

Good luck out there and congrats on your new family addition.

Sandy R.


Answered 7 years ago

I'm now a woman but I have guided a lot of women entrepreneurs over the years. I believe that you are 100% right: not being committed to a full-time job is the best time to start a business.

Few questions to keep in mind while formulating your business.

1. Do you already have a specific business idea? Is there a specific field that interests you? Is there a skill you have that you want / can leverage on?

2. What kind of business do you want to run: a one person business you can run from home or a business for which you want to get an office and build a team that works there? Do you want to create the foundations for a big business or do you want to create a simple business to run? Do you want it to be a business that has a meaning for you or do you want a cash-cow? Do you want to build a business for a lifetime or something you can eventually sell and leave?

3. What is your past experience with business? What kind of jobs have you had in the past? What does your network look like?

At this stage, my best advice is to take the time to think and pilot different ideas. You don't have to get it right from the first attempt and the lean start-up models can help you test a few models before making any significant investment of time and/or money.

There are a few trends / generic differences between men and women starting in business (note the emphasis on "generic / trends"!). I often recommend my female guidance clients to read "Lean In" by Sheryl Sandberg because many have said they can relate to what she talks about. It is therefore great food for thoughts during our conversations to explore the similarities and differences, as well as solutions to move forward.

Is this any helpful? Does this give you a few pointers of what to think about?

If you want to talk more about yourself specifically, feel free to get in touch / book a call: I'm always excited to talk with entrepreneurs like you!


Answered 7 years ago

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