Mumpreneurs are launching a whole new generation of startup businesses and restructuring the way women work today.
The term "mumpreneur" was added to the Collins English Dictionary in 2011 and home-based businesses are now the fastest-growing small business sector in the country according the Australian Bureau of Statistics.
Research from 2011 conducted by BankWest showed that women are starting new businesses at twice the rate of men. Another study, by Kimberly-Clark also shows that 70 per cent of Australian women have considered starting a business since having a child.
Although is easier than before with affordable technology and flexible working options, maintaining family and business is still a hefty balancing act. If you're thinking of combining work with a young family, or if you've already started but could use some help, here are the top tips on how you can achieve the ideal balance:
Dedicate a physical area to your work activities
It's important to separate these two areas of your life physically, even if only by the bedroom wall. Although you might feel like you're doing more when you're running around the house, trying to look after everything at once, this is detrimental to your business activity. You have to be able to focus solely on your startup in a place where your family knows not to disturb you.
Set non-physical boundaries too
Make a schedule and stick to it. Your daily routine will likely depend on factors such as whether your children are at home or at school, whether you have a partner or not, and if you do, how much can that person do to support you? You should consider all of these influences when you plan your agenda. Set time for work and time for the family and don't let them overlap.
Be prepared to grow
The idea for many home-based businesses starts with a hobby that captures consumers' interest and rapidly grows. However, some mumpreneurs cannot cope with this sudden popularity, leaving their family life to suffer as they work long hours to keep the business going. Business founders are constantly told to prepare for failure so when they do succeed, some can't handle it accordingly.
Don't sweat the small stuff
Things don't always go to plan, especially if it's your first time. Don't let that get you down. So many of the successful startups we now know as large corporations were turned down several times. Stay determined and keep at it.
Are you a mother starting your own business? Share your experiences with OneShift.