Lessons for “momtrepreneurs” this Mothers’ Day
Gugu Mjadu, spokesperson for the 2018 Entrepreneur of the Year® competition sponsored by Sanlam and BUSINESS/PARTNERS points to the 2016-17 Global Entrepreneurship Monitor report for South Africa which shows that for every 10 male entrepreneurs more than seven women were engaged in early-stage entrepreneurship activity - an increase from six in 2015.
Mjadu believes that lifestyle-entrepreneurship, where the business is a means to a particular lifestyle, offers a unique opportunity for women who need to fulfil the duties of motherhood, but who are also passionate entrepreneurs. “We are seeing these momtrepreneurs establishing successful home-based small businesses like blogging, ecommerce businesses and consulting services.”
She offers the following advice for momtrepreneurs and moms planning to become entrepreneurs:
- Trust your skills: as moms, women already have the skills required to manage a business, these include multitasking, budget management, and problem solving.
- Have a schedule: it is important to have a schedule to keep track of business and family life tasks and to exercise discipline in following this schedule.
- Put support structures at home: get your family in your business, it is a great learning ground for your children and request them for support where you require it. You can also take advantage of technology like online shopping and planning apps to ease the burden.
- Ditch the guilt: it is easier said than done but momtrepreneurs need to acknowledge that they will not always get the work-life balance right, they should look at the bigger picture and focus on the positives brought on by running a business instead of the negatives.
- Appoint the right people: a small part time business may not afford to pay highly skilled staff however when you do appoint people, you need to appoint the right people who are passionate, trainable, reliable and affordable.
- Perseverance: keep striving to achieve your goals, even when the going gets tough.