Most of us have heard her name. If you haven’t heard of her, you’ve certainly heard of her father. But what I was amazed to learn in the February 26, 2012 issue of the New York Times Magazine is that Stella McCarthy is a mother of four kids ages 6 and younger! Wow, somehow despite all I’ve read about her in the past, I never realized this hip and fashionable mom was managing a brood of four!
While she admits, “It’s overwhelming to leave the house sometimes,” she seems to manage all she does by being highly scheduled and organized. I for one am impressed!
Mother’s Day is almost here! Celebrate the Mompreneurs you admire by posting a comment about them below! One lucky Mom will win a $20 Target Gift Card.
In 1961, advertising legend Rosser Reeves introduced the marketing world to the notion of the unique selling proposition (USP) in his book Reality in Advertising.
According to Reeves, there are three requirements for a USP in a marketing piece:
1. Each advertisement must make a proposition to the consumer.
2. The proposition must be one that the competition either cannot, or does not, offer.
3. The proposition must be so strong that it can move the mass millions.[1]
For mompreneurs looking to cut through the clutter and land profitable clients, the main ideas are the same. However, I define the requirements a little differently.
First, your USP must at least imply a benefit that’s important to your target audience. In general, that means leveraging your specialty (if you have one) or your background.
For example, when I’m wearing my ‘marketing hat’ and I approach potential clients, I explain that I specialize in helping supply chain software and service companies develop messaging, targeted strategies and differentiated tactics that feed sales pipelines and drive revenue. Here, I’ve differentiated myself from most marketing generalists. But my statement needs more to actually convert prospects into clients.
So once I’ve made that proposition, I then differentiate by explaining that my focus on creating demand and driving revenue stems from more than 10 years of experience in supply chain sales and marketing.
That statement not only makes me unique, but it also complies with the third requirement in Reeves’ definition: it adds “oomph” to my USP.
That’s because you won’t find too many successful marketers with a) actual sales experience and b) more breadth and depth of supply chain knowledge.
I’ve worked with more than 25 software and service companies in this arena, and I know what makes their targets tick. I also know the tactics their prospects respond to, which means I do not have to spend a lot of time studying the industry to put together effective marketing programs. My focus on results, and the speed at which I can achieve them, is of great value to my clients and prospects.
When I pitch potential clients in my “sweet spot,” my win ratio is 100 percent. In fact, my only losses have occurred when I’ve wandered outside of my specialty zone.
For instance, a client of mine introduced me to a prospect in the banking industry. I put together a strong pitch, and during the pitch I felt positive synergy in the room. So I was rather surprised when I got the news that I had not won the account. When I followed up with the prospect, he explained that while he found my marketing skills strong, he found my industry skills lacking.
As it turns out, I was competing against another resource with many years of experience in the banking industry. In this instance, my USP was simply not appealing to my prospect, while the USP of my competition was. I was knocking on the wrong door!
What’s your USP and how is it working for you? I’m putting together a ‘USP Bootcamp’ for next month and I’m looking for a few people to try it out free of charge. If your USP needs work, email me and I’ll let you know more!
[1] Bly, Bob. “What’s Your Product’s USP?” Bly.com Newsletter Archives. July 12, 2002. http://www.bly.com/archive/index.php?m=200207.
A few weeks ago I had the pleasure of being a guest on the Coach Lynn Show. Lynn Johnson is an awesome coach who offers both life and executive coaching and has a nationally syndicated radio show. I was on the show to discuss some of the challenges mompreneurs face today and the details of my own struggles!
Right now I am really looking for a way to grow my coaching business and develop more educational products. But, I also have a profitable little marketing business that I am running. I’m really struggling to switch gears between the two businesses and give each one the attention they need. At this point, I’m not giving either business the ‘marketing love’ they need to flourish because there just aren’t enough hours in the day!
It was great to talk to Lynn about my challenges. She was very sympathetic and really gets how much we mompreneurs have on our plates! Her recommendation was that I find a way to outsource some of the tasks I’m not getting to. She suggested I hook up with a college student that can help me update my blog and expand my social media efforts. While the thought of outsourcing isn’t new to me, I’ve used Virtual Assistants in the past, I think Coach Lynn’s advice came at the right time for me. I am feeling frustrated and overwhelmed enough to make some changes!
So… I put out a few feelers for a Social Media intern. I posted an ad at our local community college and on Craig’s List. The responses I received were great! I interviewed a few candidates over the phone and found a great match. She’s going to start this month! The small amount of action I’ve taken has given me so much energy already!
Today I met with a business colleague and we discussed some of her roadblocks. We pretty quickly realized that project management and invoicing are keeping her from doing what she does best – designing. Why not start searching for Virtual Assistant that can take some clerical tasks off her plate I asked? I get that her business model is unique, and that it might be hard to find the right fit, but that shouldn’t stop her from trying!
When you have your own business, it’s really important to focus on what you do best and find ways to outsource the rest. Even if you don’t have a budget to pay someone, you can exchange services or find a student looking for experience or college credits. Get creative! Think out of the box! And tell me what you are going to outsource today!
Contributed by: Ed Gandia, co-founder of TheWealthyFreelancer.com and co-author of The Wealthy Freelancer (Alpha Books)
I caught up with a good friend recently. He’s someone I used to work with back when I was in sales. When I asked him how things were going (he still works with the same company), he wasn’t too cheerful.
“I’m miserable,” he said. “As a company, we no longer take
great care of our customers. And I’m no longer empowered to fix customer problems, which makes it extremely difficult when you’re working hard to build customer loyalty.”
I feel for him. Yet it’s these types of stories that remind me of how good I have it.
As a solo professional, I get to make the rules. I can provide excellent service and value to my clients. I don’t need to ask permission to make something wonderful happen.
I also set my own hours every week. I can work from my patio when the weather is nice. I can work out of a coffee shop if I need a change of atmosphere. And I don’t have to deal with a boss who discourages taking time off.
Yes, life is good when you’re a freelancer… and I’m thankful for that.
Coincidence? I Think Not!
In fact, I’ve come to the realization that the more thankful I am, the more great things I seem to attract.
Not sure how I discovered this. I only remember that one day I decided to add “gratitude” to my morning routine. Rather than focusing on the things I didn’t have, I began to focus on what I DID have.
A loving family. Good health. Freedom and liberty. A beautiful home. A wealth of opportunity.
Not long after that, my career took off. Things began falling into place. A few years later, I launched a freelance business. And I was able to leave my full-time job without missing a beat.
Those Guys Were on to Something
I’m not the only who believes in the power of gratitude. As I looked more into this, I found out that all the great thinkers, philosophers and prophets throughout history made gratitude one of the cornerstones of their teachings.
I realize that this may sound hokey to some. But I guarantee you that if you start making gratitude a way of life, things will only get better for you. You’ll attract more of what you really want.
And you’ll truly become a “wealthy” freelancer… in many more ways than just financially.
We all have much to be thankful for. So if you’re not doing so already, start expressing that deep sense of gratitude today and every day. And let me know how things improve for you.
Ed Gandia is a successful freelance copywriter, marketing consultant, speaker, coach and author. An expert on the topic of successfully transitioning from employee to solo professional, he took his part-time freelance business from zero to a six-figure income in only 27 months — without sacrificing his paycheck or putting his family’s financial future at risk.
Ed is the co-founder of TheWealthyFreelancer.com and co-author of The Wealthy Freelancer (Alpha Books). He also recently established The International Freelancers Academy.
Contributed by: Nellie Akalp, CEO and Founder of CorpNet.com.
Yes, I know. The majority (if not all) of you did not start a business because you love tax law and legal fine print. And in the flurry of supporting your current customers, working to add to your client base, taking care of your home and family, and finding some down time for yourself (remember down time?), it’s all too easy to put off the question of incorporating your business.
But as a business owner, the day will come when you inevitably will have to address the legal aspects of your business – and the sooner the better. And, fortunately, the process can be relatively painless and hassle-free.
But let’s back up a bit. Let’s take a look at why you should incorporate in the first place. I talk to countless small business owners and freelancers who consider themselves too small to worry about incorporation. After all, you don’t have mazes of cubicles…you may not even have any employees. However, incorporation can still be a smart idea even for the self-employed graphic designer or wedding planner. And here’s why:
- It protects your personal assets: Once your business is incorporated, it exists as a separate legal entity. This means that the corporation (and not you, the owner) is responsible for all of its debts and liabilities. Of course, most entrepreneurs don’t start their business expecting to anger clients or default on payments. And most likely, you won’t encounter such problems…however what if a copywriter unintentionally plagiarizes while working on a client’s website? What if your major client fails to pay, making it impossible for you to meet your own obligations? Without incorporation, you, as the owner, can be personally liable in these situations, and this puts your own personal savings, retirement, child’s college fund all at risk.
- It can offer tax benefits: For some individuals and businesses, incorporating can help lower the tax burden. For example, through incorporation, a self-employed contractor could reduce her federal and/or state income taxes by avoiding self-employment taxes. And corporations may be entitled to additional deductions not available to individuals. Of course, specific circumstances vary, and you should consult with a CPA on your particular tax situation.
- It can change your outlook: You’d be amazed at how much adding three little letters (Inc or LLC) after your company name can change the way you approach and perceive your business. And when you’re working from home, you need all the reminders you can get that you’re actually running a business. Plus, marketing studies have shown that adding Incorporated or LLC provides a sense of credibility and trust with current customers and potential customers.
After “Do I need to Incorporate?”, the next question I’m usually asked is “What business structure is right for me?” It’s a great question…one that I can’t necessarily answer here. But here’s a quick synopsis to get you on the right path:
- Limited Liability Company (LLC): The LLC is very hot among small businesses right now, and for good reason. It’s a hybrid of a partnership and corporation. It offers liability protection, but with minimal corporate formalities (in a Corporation, you have to pass resolutions and file minutes whenever you want to make a change to the company…this isn’t the case for an LLC). If you’re the sole owner of your business, the LLC is a great way to protect yourself without adding a lot of corporate bureaucracy. An LLC is considered a pass-through entity when it comes to federal income tax. This means the business itself is not taxed; rather, any business income or loss is reported on your own individual tax return.
- Corporation: The Corporation is the most common form of a for-profit corporate entity. There are actually two types: the S-Corporation and C-Corporation. Like the LLC, the S Corporation is also a pass-through entity for your income taxes. However, the C Corporation is not pass-through and for many small businesses, this can result in ‘double taxation’ where your Company is taxed, and then you’ll also be taxed on any profits/salary you draw from the business.
Unless your business is particularly complex, you should be able to incorporate your business or form an LLC online, without having to retain a business attorney. By working with a legal document filing service, you can represent yourself to create a legal business entity. And in the eyes of the law and IRS, your business structure will be just as valid than if a high-priced attorney sent in the documents for you.
Of course, when spare seconds seem in short supply, legal fine print and paperwork aren’t exactly high on your priority list. But getting your legal ducks in a row can give you peace of mind and help you avoid any legal pitfalls in years to come.
Nellie Akalp, is the CEO and Founder of CorpNet.com, an incorporation filing service specializing in helping mom entrepreneurs in getting their businesses off the ground quickly and affordably. Whether you need help incorporating, forming an LLC or filing a DBA, Nellie can help. To learn more visit: CorpNet.com.
Putting the Mom in Mompreneur
An Interview with Jenny Reed
Jenny Reed is a travel specialist and owner of www.OurCruisePlanner.com, a travel resource specializing in cruise and land vacations to destinations worldwide. In a recent interview, Jenny shared with me her refreshing view on owning a business, being a mom, and making it all work. Read on to learn more…
Noelle:
What were you doing before you became an entrepreneur?
Jenny:
I majored in marketing and advertising in college and when straight into marketing for a publishing company afterwards. I moved up the ranks from marketing assistant to marketing director before I decided to purchase a Cruise Planners franchise. I decided to start a business with the hope that when my husband and I started a family, I could have a home office and some flexibility to be there. We were always passionate about cruising, so a travel industry business really made sense to us.
Noelle:
Why did you decide to purchase a franchise over establishing your own travel business?
Jenny:
We did our due diligence before starting our own business and in the end we liked the structure a franchise offered. By purchasing a franchise, we got the right to use an established franchise name. We also enjoy greater collective buying power by being part of a large group. Plus, we get lots of support for our business needs like marketing and accounting.
Noelle:
What is an estimated cost to purchase a franchise like Cruise Planners?
Jenny:
If you are not looking for a brick and mortar travel franchise and you have no prior travel planning experience, I’d estimate the cost to get started is about 8-10k. There are discounts if you have been in the business.
Noelle:
That sounds reasonable. Tell me about your transition into the business? Did you work at it full time from the start?
Jenny:
At first I did it part time. I took some time to start building the business and to get comfortable with it. I transitioned into a full time role within six months though.
Noelle:
What were some of your biggest challenges at first?
Jenny:
I’d say marketing was one of the biggest challenges. But when I started the business, I also faced two unique circumstances. First, my husband had just been transferred from Georgia to Minneapolis, so I was in a new place with a new business. Second, my training was originally due to start on September 12, 2001 – the day after 9/11. It was a real challenge to start a new travel business during such a difficult time in our country. I’m extremely thankful to be here nine years later.
Noelle:
Wow – nine years is a life time as an entrepreneur! That’s great. Have you continued to move around since launching your business?
Jenny:
Yes, my husband and I have moved three times since we started the business. The good thing is that this type of business is easy to move and it’s meant little disruption to my customers.
Noelle:
That’s great. I really think one great benefit of owning a service-based business its portability. I know when I moved from the east coast to Colorado two years ago, I was really glad not to have search for a new job!
Tell me a little about how you market your business?
Jenny:
Well, it’s really a two-fold strategy. Before I became a mom, I was a real social bug that did a lot of face to face networking. So originally I built my business by networking. However, after I had my son two years ago, I really had to switch gears. I turned more to social networking.
I still also do some traditional marketing like direct mail and I have a website and blog. But much of my business relies on providing great customer service and securing repeat business.
Noelle:
How has the recent economic downturn impacted your business? I notice on your website you offer some creative options like Job Loss Protection Coverage.
Jenny:
Last year our business was down by 30 percent. That was average compared to what we were seeing in the industry publications. We really had to get back to the basics and remember what we did when we first started out. We watched our budget closely and we took good care of our past customers. We’re now seeing an up tick in business and we are very thankful for that. However, consumers have changed. They are doing a lot more last minute traveling than they did in the past. This makes business planning difficult for us, but again, we are thankful for the business.
Noelle:
How has becoming a mom impacted your role as an entrepreneur?
Jenny:
Well, once I had a child I really need to tweak my time management skills! It’s very easy to feel unbalanced as a mompreneur. You need to realize that every day is different and some will be better than others. I try to schedule ‘work time’ and ‘time with my son’ everyday – after all I think the most important part of being a mompreneur is being a mom. I find that everything falls into place when you have your heart in the right place.
Noelle:
What great insight. Too often I think we moms try to multi-task meaning we try to do our jobs and take care of our children at the same time. I personally find that a real recipe for disaster. I really like how you consciously schedule time for each role.
Jenny:
Yes it works for me. Plus, technology today has really changed things for mompreneurs. It can help you stay in touch with your business when you are out and enable you not to feel like you are putting aside one role for another. It’s especially helpful to me in a business like mine where a customer can have an emergency at any time.
Noelle:
So true. What’s been your biggest surprise about mompreneurship?
Jenny:
Sometimes I really miss the social structure of my former job. I liked knowing I had friends at work and seeing them every day. But the upside of being a mompreneur is the flexibility. Sometimes I am up working at 6 am and sometimes I sleep in and have breakfast with my son. I no longer have a rigid schedule and it’s great. Also, since I’ve become a mother – a whole new wonderful world has opened up to me. It’s great to meet other people in my boat.
Noelle:
I bet it’s also opened of a new market for your – family travel.
Jenny:
Definitely, that is now one of my specialties for sure.
Noelle:
Do you have any advice for aspiring mompreneurs?
Jenny:
I’d say do your research. Don’t jump into something feet first. Do your research; hold a focus group; etc. Also, remember that failures will happen, but they will make you stronger. The flexibility is really worth it and you need to keep that in mind when things get tough. If you stop seeing value in the flexibility however, then it might be time to reevaluate and make some changes.
Noelle:
I agree. That’s great advice. In closing, tell me about any resources you recommend for mompreneurs.
Jenny:
Well I really like www.themomentrepreneur.com. I also read a lot of ‘mommy blogs’ – there are ones that offer advice on motherhood and others that offer advice on mommy businesses. Twitter has also been great for me, especially now that you can make lists. I’ve made some great connections worldwide on Twitter.
Noelle:
Thanks so much for your time today Jenny. Please remind us where to find you when we are in need of a vacation!
Jenny:
You can find me at www.OurCruisePlanner.com or contact me toll-free on 1 866 532 7526. Also, remember that there is no fee to use our services. We get paid by the vendors we work with – so it’s free to pick our brains and get great travel advice! Happy travels!
Today’s Superwoman: The Special Mompreneur
An Interview with Marla Murasko
For most moms, balancing a family and a business is tough stuff. When you add managing the needs of a special needs child to the mix, it’s hard to imagine it could all be possible! That’s why I was so glad to meet special mompreneur, Marla Murasko, who is successfully managing a business, a family and the needs of her special needs son while also building a network for others in her same situation.
Read on to learn more. I have no doubt you’ll be inspired by her ingenuity and resourcefulness!
Noelle:
What were you doing before you became a mompreneur?
Marla:
Before I became a mompreneur I worked for Johnson & Johnson in the sales and marketing department for almost 11 years. When my family relocated, I left Johnson & Johnson to become an administrative assistant at a preschool which I absolutely loved! However, I realized that my husband’s job was going to force us to relocate every three to four years and I wasn’t keen on looking for a new job every time we moved, so I began to look for ways I could do what I was doing from a home office.
Noelle:
How did your previous roles impact the businesses you run today?
Marla:
I carried over a lot skills from my former jobs to my current businesses. I learned a lot about marketing and sales being in the those departments. I also learned how to work with people and to address their needs effectively and efficiently. I also like to be creative and to plan things – like events and I enjoy coordinating projects.
Noelle:
What steps did you take in transitioning into a full time freelance virtual assistant?
Marla:
Well, I definitely took my time with the transition. Any big jump like this is scary – and it takes time. I did lots of research on the Internet and before I launched my own business, I actually found a job as a regional administrative assistance for a company based out of California that allowed me to work from home. This was great as I really got the chance to learn what it was like to work from home before actually launching my own business. I realized I could do it and so I did some more online research and stumbled upon the wonderful world of virtual assistants (VA). Then I started ExecuEssential Administrative Services.
Noelle:
Wow, it sounds like you have really spent your time researching the field and that you have a lot of experience in the area now. Are there some resources you can recommend for others interested in learning more about being a VA?
Marla:
Yes, I definitely did my research. Six years ago when I began looking into work from home opportunities, the VA field wasn’t nearly as established as it is now. I really had to look for information. Today there’s a lot more information on the field out there, but I recommend two sites. One is www.vanetworking.com. This is something I am a member of and find value in. The other site is www.vaclassroom.com. This is where I go to keep up with the competition. It offers plenty of great training opportunities. There are many great networking groups that you can join, and social media today makes it very easy to find the information and the training needed to become a small business entrepreneur.
Noelle:
Great! Let’s circle back to a few things you said earlier. You mentioned that your husband’s job requires you to move a lot. Have you been able to keep your clients as you’ve relocated?
Marla:
Well, yes and no. I have some long term clients that I’ve kept for years, but I have found that VA work is very project-oriented – which means clients come and go. I like this about the field because it means that you are always meeting new people and always working on new projects. In a traditional administrative role, that wouldn’t be the case. You’d work with the same people from 9 to 5 everyday and many of your tasks would be repetitive.
Noelle:
What were the biggest challenges you faced in adjusting to owning your own business?
Marla:
Owning your own business is fun and exciting, but it’s a lot of hard work. You basically have to wear all the hats from marketing and sales to being your own IT department (computer person). It takes a lot of hard work, time and dedication, and it doesn’t come easy. It can take some people a long time to become “comfortable” working from home. And the whole concept of social media can either hurt you or help you. You have to invest and stay fresh with your skills and new technology to stay competitive.
Noelle:
Yes, I agree – it’s really important to stay current in your field, but this can be hard to do when you have limited time and resources. Has the investment been worth it?
Marla:
Definitely. As I stated before you have to have dedication and be really savvy in the “social media” world. This takes time and money, but in the end, if done correctly, this can offer a real return on your investment.
Noelle:
That’s great. I too have had to invest time and money in understanding social media. It wasn’t out there 10 to 15 years ago when I started my marketing career! How has mompreneurship impacted your role as a mother?
Marla:
It’s been wonderful. Being a mompreneur allows me to remain creative and driven. It provides me a real sense of accomplishment. Plus, as a mom of a special needs child, it really gives me the flexibility I need to take my son to therapy, doctor appointments, school, etc. It would be very hard in a 9 to 5 environment to get the time off needed for all the therapy required. It’s very rewarding.
However, there are whole new set of needs that come up when you run your own business, and I don’t think people are aware of this when they decide to start a business from home! You have to be extremely disciplined to succeed.
Noelle:
Oh, I couldn’t agree more. I think people think they are going to have a lot more free time when they start working from home, but in reality you take on so much more when you have your own business – I think you can easily wind up with less free time! What in your opinion is the biggest time sucker?
Marla:
I’d say it’s promoting yourself. I can easily get the work done for my clients, but effectively promoting my business can be tough! When you have your own business, you have to be constantly promoting yourself which is a pressure you don’t have in a 9 to 5 job.
Noelle:
Yes, it can be extremely draining, and personally I think its one reason many small businesses fail. Sales and marketing are a lot harder than people think they are! What words of advice do you have for other aspiring mompreneurs?
Marla:
Be realistic with yourself. Be clear on how much time and money you are willing to commit to your venture and be honest about the level of passion you have for the venture. You need to be true to yourself – if you’re just starting a business so you can work from home and your heart really isn’t in it – you will fail. There has to be a real passion and a real commitment.
Noelle:
Speaking of passion, tell me a little about your new venture, Special MompreneursTM.
Marla:
Sure! Being a small business entrepreneur and a mother of special needs child, I have a real passion to empower other moms that are looking to start a business. I have learned that getting advice and support from people who “wear the same shoes as you”, makes it is easier for you to be honest and more receptive, as you know they can relate to your everyday struggles. So, as an advocate for special needs children, I have also become an advocate for the mothers who love and care for these children. I want them to realize that they too can become a small business entrepreneur if that is a dream they want to pursue.
Noelle:
Why did you start the group?
Marla:
I started the group because I found that although there were a lot of great networking groups for mompreneurs, these sites didn’t have what I needed from a ‘special mom’s perspective’. I wanted advice on how to manage my time and my clients while also dealing with the needs of my special needs child. And, when I went to sites focused on the special needs themselves, such as sites covering downs syndrome or autism, I wasn’t finding the information I needed from a business perspective. When I didn’t find what I was looking for, I started my own site!
Noelle:
That’s great. What can members expect to find on the site?
Marla:
Special MompreneursTM is is a “one-stop shop” online community of Mompreneurs, who have started their own businesses while staying home to care for a special needs child. We provide inspiration, support and share our experiences both personally and professionally. We respect and value each other. Being a member of Special Mompreneurs brings real benefits. You can come to one place, find information about special needs, network with other moms, and learn ways to run a business. We provide an e-commerce shop of products, an e-learning campus and a panel of advisors that you can reach out to for advice.
Noelle:
I think it’s wonderful and I think you have stumbled upon an important niche. I am so glad to be working with you and the moms in your group! How can other interested mompreneurs get involved?
Marla:
Go to my site at http://marlamurasko.com/special-mompreneurs/ and become a member. We offer a 30 day free trial membership so that you can experience what being a member of Special Mompreneurs is all about before you join.
Noelle:
In addition to your site, what other resources do you recommend for mompreneurs?
Marla:
I have two that are my favorites. One is the www.themomentrepreneur.com and the other is www.twittermoms.com.
Noelle:
Thanks so much for your time today Marla! I think you are a huge inspiration for other aspiring mompreneurs!
If you have children and you’re thinking of launching your own business, you need to start thinking about—and planning for—childcare options. In my opinion, childcare can be one of the biggest obstacles a mompreneur faces!
I understand that many moms choose to launch their own businesses so that they can physically spend more time with their kids. A lot of the moms I interviewed for my book, The Smart Mompreneur, felt this way and several commented that putting their kids in a traditional daycare setting of any sort would completely undermine this goal. I respect this viewpoint, but I also strongly feel that whether you’re looking to run a part-time or a full-time business, you can’t be successful if you constantly have kids screaming in the background, wreaking havoc and running into your office every five minutes!
The reality is that small children are not going to keep quiet during business calls or take naps when you want to get work done. So if small children are a factor in your life, you should start thinking about childcare options as early as possible. You should also be sure to factor any potential childcare costs into your projected monthly income and expense projections. But, the good news is that when you work for yourself and have lots of flexibility, you can often get very creative and arrange childcare for a minimal cost or no cost at all!
When my first daughter was a newborn, I shared a nanny with another freelancer. This option afforded me an extreme level of care at a fraction of the traditional cost. Now that she is older, I’ve enrolled her in daycare three days a week. I found a great retiree that watches my younger daughter at her home while my older daughter is in school. She charges me less than a traditional nanny would since I bring my daughter to her home AND I now have my home office to myself three days a week!
This type of arrangement may or may not work for you, but I will say that these arrangements have consistently provided me with three days per week of quiet, uninterrupted time to focus on my business. On the days that my kids are home with me, I often check e-mail, schedule calls and complete urgent tasks during their naps, but for the most part, I try to limit my work to the days when I have reliable childcare.
Again, what works for me may or may not work for you, so I’m also providing you with a few other creative childcare options to consider:
Create a childcare co-op. A childcare co-op is basically a group of work-at-home parents that swap child-care duties. If you chose this option, keep track of the hours that you watch each child and make sure that everybody gets their fair amount of time. The benefit of this option is that you get free childcare. The downside is that you can’t work while you are watching other people’s children.
Organize a mom-swap. Instead of many people working together within a co-op, a mom-swap is basically you and a friend trading off childcare days. If you chose this option, make sure you set clear boundaries, so neither of you takes advantage of the other. It would also help if your kids get along well. If they don’t, this could be a nightmare.
Share a sitter with a friend. Have a sitter watch both of your children at the same time and split the costs. Here again, make sure that you communicate with your friend to avoid complications.
Barter services in exchange for child care. Pay the person caring for child with your services, rather then your money!
Locate an affordable mother’s morning out program. Many churches offer these programs, and you can enroll in more than one!
Regardless of the option(s) you choose, the bottom line is its important to be sure your children are cared for during the time you plan to work. Spread the word that you are looking for childcare and survey all your options. It may take some time and energy, but your investment will pay off when you find the best and most affordable childcare.
Do you have a creative childcare strategy to share? Post your comments here! I’ll also collate the information into a future post and send the mom with the most creative solution a $20 Starbucks card!
Traci Bisson is somewhat of an ‘an accidental entrepreneur’. She started her own business in August 2000 after the company she worked at for five years suddenly went out of business. When times got tight eight years later, Traci turned to social networking for support.
Lucky for us! When Traci couldn’t find just the right online networking group for her, she started her own site, The Mom Entrepreneur. Today this site is where mompreneurs in the know go for tips, advice and resources on balancing motherhood and running a business.
Read on to learn more…
Moms Helping Moms
An Interview with Traci Bisson
Noelle:
What initially led you to become an entrepreneur?
Traci:
I didn’t purposely set out to be an entrepreneur. In August 2000, the company I had been employed by for 5 years suddenly went out of business. This happened just 8 weeks after I returned from maternity leave – so the timing really could not have been worse. I was broke and unsure what to do but I had always loved to write and so I decided to try to make a go of being a freelance writer.
Noelle:
Wow, sometimes losing your job is the push you need to convince yourself its time to pursue a passion. How were your first months in business?
Traci:
It was tough at first. I spent my meager savings, a total of $18.49, on nice stationary from Staples and launched Bisson Barcelona, a freelance writing and marketing/public relations agency. I found a good niche to service – writers and authors – and ventured very deep into this industry.
Things were pretty stable until 2008, when I began to experience a lot of financial difficulties. It was a scary time and I began looking for ways to network with other mompreneurs who might be experiencing similar challenges. But, since I had small children and really didn’t have the ability to get out of my house, I decided to focus on online networking opportunities.
Noelle:
What type of opportunities did you find back in 2008?
Traci:
Back then I found bits and pieces, of what I was looking for, but not the entire package, so I started trying to put together my own group of mompreneurs. I tried organizing a small local group, but that failed. I don’t think mompreneurs have the time to physically get together and that’s why networking online makes so much sense.
Noelle:
I agree. I was reading recently that mompreneurs are really unique in the way they network and support one another. I am not sure people fully realized this a few years back though, so I think you were a real crusader!
Traci:
Yes, I guess you could say that. In the last couple of years, more communities for mompreneurs have popped up, but I think we are one of the only groups doing things the way we do it.
Noelle:
Have you always been into networking?
Traci:
Yes! Before I had kids I was a networking queen, I would go anywhere, at anytime, and meet with anyone and everyone! But after kids, it just wasn’t possible. Networking events always conflicted with a feeding schedule or a bus schedule or something. Online networking worked for me, and I guess I knew it would work for other mothers as well.
Noelle:
What can mompreneurs find on your site today?
Traci:
It’s really grown. It started out as a blog, but now there is a networking group and a co-op shop as well as tons of other resources.
Noelle:
It’s a really great site and I have personally found it really useful. What has been your biggest challenge in starting your own business?
Traci:
Oh, there have been so many! Balancing motherhood and a business is probably the biggest, but I’ve also had to deal with breaking up with a business partner and incurring great debt, yet I’m still here! The most important thing is that you learn from your mistakes and that you get wiser about where you go in business.
One important thing I learned as I went through some recent challenges is that marketing and public relations isn’t my passion. What I am doing with the mompreneurs is.
Noelle:
That’s great. I think every entrepreneur has an easier time when they are truly passionate about what they are doing. How has mompreneurship impacted your role as a mother? I think that there’s a myth that when you have your own business or you work from home, you will have a lot more free time. What do you think?
Traci:
Well, I don’t think I have more time with my kids on the whole, but I definitely have more quality time with them. I also have a lot of flexibility, and that is great.
Noelle:
How do you balance motherhood and a business?
Traci:
I try to train my clients and pick the right ones to begin with! It’s really important to have some structure. I have a message on my phone listing my office hours and indicating how long it will take me to return a call. That way my clients know what to expect.
I’m also really clear with my family – as to when they get me and when I need to be working. And, I am really lucky to have a great support group. My husband, my brother and my mother all really help out.
Noelle:
Yes, support is so key. And if you don’t have immediate family nearby, like me, you really need to get creative in building out a support network. What’s been your biggest surprise about mompreneurship?
Traci:
I am not sure there have been any big surprises, but I guess I’d say I was surprised by the overwhelming sense of freedom I felt when I left the corporate world behind. It felt like a huge sigh of relief to stop “working for the “man”.
Noelle:
Oh, I agree. Some days I really can’t believe how lucky I am to be able to make a living and enjoy such great freedom and flexibility. Do you have any advice for aspiring mompreneurs?
Traci:
I say if you are interested in being a mompreneur, go ahead and take the leap of faith! It’s kind of like what you hear when you are thinking about having a child. You can’t really read all you need to know in a book and you can’t fully prepare for it financially. You just need to go for it. Street knowledge really comes in handy.
I’d also say be sure to find some local support groups and get some business counseling. It’s really important to have an external team of people you can check in with.
Noelle:
Again, support really is key, especially when you are just getting started. I remember being full of self doubt when I was starting my business. I had some friends and colleagues that were real naysayers, but once I surrounded myself with the right group of women, women who had been there and done that, I began to believe I could succeed, and I did!
Are you seeing any trends in the market? If I am a mom looking to become self employed, where should I look?
Traci:
I’m seeing a lot of moms migrate to the virtual assistant industry. If you are a good multi-tasker, which many moms are, it’s an easy business to get started. And, based on your experience and knowledge, there is very likely a large target market for services.
I’m also seeing a great uptick in women getting into what I call “hobby businesses”. These are businesses you can start from home, like selling candles, Avon, or Send Out Cards. There is a whole system there and you are given great support and guidance. With all that structure its easy to be successful.
Noelle:
That’s a great idea. I so often think about service businesses being the easiest to start, I hadn’t really thought about hobby businesses. They really are great for moms!
In closing, tell me about some resources besides The Mom Entrepreneur, that you recommend for mompreneurs.
Traci:
Well, www.themomentrepreneur.com, is my favorite of course, but I also like Laura Galloway’s site, www.mombizcoach.com. She is a great business coach. She also has a radio show and a bunch of great videos on her site. And, I like Heather Allard’s site, www.themogulemom.com. She interviews a lot of great guests and features good business advice. Finally, when it comes to navigating the social networking scene in general, I love Chris Brogan too, www.chrisbrogan.com. I love social media and he is a real thought leader in this area.
Noelle:
Thanks so much for your time today Traci and thanks for all you do for the mompreneurs of the world!
Marketing is the life blood of any business – without it you simply won’t generate the revenue you need to STAY in business. However, marketing can be a scary process for some mompreneurs. It requires time and money, something we are often short of!
Lately, I’ve been collecting ideas on how to build and market my own business, and I thought I’d start sharing tips on free marketing and educational opportunities on this site. Here are a few I noticed over the past week. Check back soon for more!
Have A Story You Want to Share With Other Moms In Business?
Maybe you learned something you think others should know, or maybe you are an expert in a specific area and want to share your advice with other mom business owners. Write for Marketmommies.com! We are looking for moms to contribute to Marketmommies.com. We already have a great group of moms already at work – but would love to hear your story. Email: info@marketmommies.com, if you are interested in contributing!
Is your company Buzz Worthy?
Do you have a product/service that you feel is filling a niche in the market? How is your product different from your competition? For my Daily Buzz free PR newsletter, I write a post every Tuesday called Buzz Worthy. I’m looking for companies to showcase so let me know if your company has the right stuff to be featured on Buzz Worthy. And it helps if you are a Daily Buzz member. Sign up at here and shoot me an email once you receive your first Daily Buzz by simply replying to it. And spread the word about Build-A-Buzz.
Win a Trip to the Super Mom Entrepreneur Conference & Expo
The Super Mom Entrepreneur Conference & Expo will be held on 10/30/10 in NYC at The New Yorker Hotel. Whether you are an experienced mom entrepreneur, one who is just starting out, or a mom entrepreneur to be, this conference has got you covered.
In an effort to give more mothers an opportunity to experience the inspirational and transforming event, conference speakers and mom entrepreneurs Mindee Doney and Julie Pickens, the co-inventors of Boogie Wipes, are offering an all expenses paid trip to one lucky mom entrepreneur. All interested moms, whether they have a successful business, are a new start-up, or are thinking of starting a business down the road, are eligible to enter.
To be considered, visit the Boogie Moms’ blog between July 1st and September 1st, fill out the form and tell them a bit about your business or business idea, your goals, and how the Super Mom Entrepreneur conference would benefit you. The winner will be chosen by The Boogie Moms and will receive an all expenses paid trip, including airfare to the conference (from anywhere in the Continental US or Canada), lodging for two nights, conference registration fees, and two hours of business consulting time with Mindee and Julie, The Boogie Moms.
