The Advantages Of Being A Mom Entrepreneur
Mom entrepreneurs have advantages. But before you get your undies in a bunch, let’s get one thing straight. This is my perspective. A guys perspective. And you’re right, I can’t relate.
I observe, though. And mom entrepreneurs are starting to crush it.
In my nearly two decades of being an entrepreneur, and having worked with countless numbers of entrepreneurs, I have identified six distinct advantages mompreneurs have over everyone else (me included). When a mom leverages these advantages, her business has a jump on the competition and a serious growth opportunity.
Want to know the advantages? Are you sitting on the edge of your seat? Drooling with anticipation? Well, as your mom would say, wipe that schmutz off your face. And for the Lord’s sake, sit up straight. There that’s better. Here are the six advantages of being a mom entrepreneur:
Early Insights
Mom entrepreneurs have their finger on the pulse of the up and coming trends, because they know what teenagers are doing. They see how teenagers are communicating, consuming and entertaining themselves. And, since teenage trends are often the harbinger for societal trends, moms know what is going on before everyone else does.
Social Scene
Women are more socially communicative then guys. It’s just the way it is. Moms are the leaders of this female advantage. I believe it is because moms coordinate most of the social activities for themselves, their husbands and their kids. Along with coordinating, comes community awareness. With community awareness comes the ability to see problems that need solutions – the entrepreneurs holy grail.
Trust Worthy
We buy from people we trust. With brands being more and more about the entrepreneur behind it (think video branding here), who conveys trust the fastest? That’s right, a mom does. Doctors come in a distant second.
Marathon
Growing a business used to be a sprint. At least it was during the dot com bust. More and more, building a business takes raw time, commitment and every ounce of your soul. Every mom entrepreneur I work with gets this. And I am not saying this on a theoretical level, they know the raw time, commitment and soul sacrifice it takes to raise a kid for 18 years, plus.
Multitasking
Multitasking is kinda like teenage sex. Everyone says they are doing it, but few are. And the ones who are, aren’t doing it well. With iPhone and Crackberries in everyone’s hand, entrepreneurs have a sense they are doing more faster. But in fact, most are taking on more distractions faster… that is except the moms. Women are natural multi-taskers, and moms are the masters. This invaluable skill clearly gained from growing a family, plays oh so nicely into the constantly changing demands of growing a company. (Note to mom readers: Don’t worry about the teenage sex part, it isn’t happening… that much)
Collaborate
If you asked me fifteen years ago how to grow a multimillion dollar company, my answer was easy. Identify the competition, exploit your strategic advantages and do everything to take their customers. That mentality is so 90’s. The new approach is collaboration. Entrepreneurs who embrace their competition win. This sounds strange to many established entrepreneurs, but mom entrepreneurs inherently get this. And with their natural collaborative approach to business they and their counterparts are taking off.
So there you have it. Want to do well in business? Learn from the moms (or if you are one, apply what you have already learned). By the way, I’m not just saying this… I put my money where my mouth is… about 75% of my projects and partnerships are with mom entrepreneurs. So there.
By Mike Michalowicz, Author of The Toilet Paper Entrepreneur
February 15th, 2010
Very entertaining to read and oh so true! Don’t forget about Passion. As a mom running my own Graphics company, I hear it time and again from my clients. They know it and feel it, my passion for what I do shines above all. Of course it’s nice to make $ in the process, but I am excited about any and every graphics project that gets thrown my way. You also mentioned that moms know how to collaborate – you got that one right:)
Thanks for this post!
February 15th, 2010
I never tire of your straight-up, raw sense of humor, e.g. “crackberries”. Haa! Gotta love it (btw, I don’t have one, but want one). Mom entrepreneurs are all the rage, so if the business world isn’t listening… they’ll be left in the dust.
Thank you for recognizing the many talented, smart and creative moms who have turned their ideas and passion into a business. Go Mom Entrepreneurs!!
February 15th, 2010
This had me laughing out loud: “Multitasking is kinda like teenage sex. Everyone says they are doing it, but few are. And the ones who are, aren’t doing it well.”
As Ros already said: Thank-you for recognizing Mom Entrepreneurs! I think there is a definite shift in perception of Mompreneurs – from seeing Mom business owners as “hobbyists” who do some work on the side, to appreciating women (and Mom) entrepreneurs as genuinely savvy business women.
February 15th, 2010
@Jana – Yes to passion, I agree. But I would also argue that it isn’t an advantages mom entrepreneurs have over other entrepreneurs, simply because other entrepreneurs (single women, fathers, single men, etc.) all have the advantage of passion. If they work in a field of passion they will naturally excel.
February 15th, 2010
Many of us “mompreneurs” got started because the corporate culture wouldn’t give us the flexibility that we wanted to raise our children and continue to work. Had I been “allowed” to work part time or work flexible hours, I probably wouldn’t have started my own business. Instead, that lack of flexibility forced me to do what I love…
February 15th, 2010
Me too, Tracy. I wanted the same flexibility with my three children, and could only find it in entrepreneurship. I am grateful to be a business owner and a mom.
February 15th, 2010
Thanks for recognizing what many of us Mom Entrepreneur have discovered as well. When I started nearly 9 years ago with 1 product I never expected to build an online business with local retail store front and employees. Thanks Mike!
February 15th, 2010
I love how you say we collaborate, it’s so true! We all work together and help each other out…sharing customers, not stealing
Maybe mom’s have a better understanding of this concept since it’s one we reinforce with our kids all the time. I think we also have an advantage because our family comes first so we build our business around them, they are our inspiration, and that makes us successful in business and in life.
February 16th, 2010
I loved this article because it helped me value qualities in myself that I tend to take for granted and/or undervalue. (and when I get frustrated with my teenager I’ll try to remember the value of “early insights”!!) I also would add to the list the turbo-charge power of role modeling. My daughter has watched me pull myself up by the bootstraps as an entrepreneur to support the two of us, and her witnessing me is a huge motivator. Also I agree about defining work relationships based on deep integrity and caring – my clients tell me often how rare that is, but seems normal to me to have professional communication be as heart centered as family communication. Hello! Duh!
February 17th, 2010
@Grace – How come I am almost daily trying to remember “early insights” when it comes to my teen? I guess I should write a Dad article about that one.
February 17th, 2010
I work in an industry that is dominated by women start ups. Over time tho, most of these companies that survive are owned by men. Why is that? I shouldn’t ask, that’s a rhetorical question because I think I know. It is just my opinion but I think there’s a lot of downsides to self identifying as a “mompreneur”. Women have been working from home for hundreds, if not thousands of years. Trumpeting the matter now is somewhat akin to denying our mothers did it too but without a lot of fanfare. I think there lies a danger in defining one’s self in such limited terms. It’s faddish (I steer clear of fads), not given to longevity. What will they call themselves as they age? Grampreneurs? One’s core identity should not be so transitory.
Then, there’s a backlash mostly owing to what seems to be common in many, that of entitlement. Too many expect special treatment, that the rules shouldn’t apply to them. This can rankle a bit. Many of us who are now in a position of mentoring the new crop of mompreneurs were/are also moms who started working from home. I’m definitely not saying moms of today should have to suffer like we did but many do seem to think they shouldn’t have to meet standards of the marketplace. I was a single mom with a disabled child with no health insurance or child support but my overwhelming drive was to compete with existing enterprises on the same terms. My drive was to meet standards and expectations of the marketplace. It was never a consideration that customers should cut me some slack because I was disadvantaged and starting way back in the pack as a mom.
To be sure, it is a complex matter. Perhaps you’ll consider writing about the downsides too. Otherwise, it becomes more self congratulatory talk bantered about in mom social media circles, happy they got more props. I think an echo chamber isn’t useful in the long term.
February 17th, 2010
Personally, I’ve got a well-branded image in MY mind that women entrepreneurs are, like in grade school, quicker to develop smarts and networking skills that pay off in building trust in business. While I don’t always have a magic connection with Mompreneurs, I normally expect it to be a better relationship than with Mantrepreneurs. Us guys are often just not social enough, or humble enough, or emotionally smart enough to reinforce a trust from the get go.
Guys interject useless self-identifications that often don’t further our own interests. Then when we perceive a wall, we recoil a little and pause to formulate a response. Women, and especially moms running a home business, understand the value of avoiding focusing on self to closely in their interactions and being socialable. This is always going to be the image I have in my mind after comparing the two sexes in small business matters, and about 99% of the time this image is reinforced with my own partners and clients.
While female businesses may indeed end up owned by men (as per another poster’s suggestion–I have no idea personally), the fact is that if I’m dealing with a Mompreneur, I automatically feel more confident that the relationship will go smoothly and things will get done, communication will happen, and that there will be a balancing affect on whatever I’m not on top of–by her ability to see flaws and sociably frame them in a nonthreatening way. I know that I appreciate that a great deal.
The dynamic isn’t the same once you step out into the grealm of lawers and PR, but with Mompreneurs, I always feel…safe. I’d suggest that ist an advantage to be both celebrated and exploited.
February 17th, 2010
My husband & I have this discussion all the time! When he asks me what I did & I say, I met a mom @ the playground & we did business he is astonished. Between lunch & watching kids play we get a lot done. The multitasking comes in handy. It may seem chaotic but we moms know how to get it all done.
February 24th, 2010
I’ve got to go with Mark on this one. When it comes to business, and in particular face to face transactions, I think women are more confident in other women (just my feeling). But I also feel the same way… if I buy something from someone I don’t know, I feel a bias toward buying from a woman… I feel that they are more trustworthy. I know I am stereotyping here, and perhaps it is result of growing up with mom at home and dad at work (aka as a kid I saw mom more than dad)… but I wonder how many other consumers feel the same way.