The Reality of Being an Entrepreneurial Mom
Recently, online graphic design marketplace, 99designs, published a very enlightening infographic on “mompreneurs” — those entrepreneurial mom’s, who generally enter the workplace after their kids reach school age, and who often work a “second shift”, at the end of their “mom duties”, when the kids have gone to bed. Although we are learning more and more about female founders, there’s still very little data available on women business owners with children under 18.
In their study, which polled 1290 business owners (male and female), who have at least one child (under 18 years of age) in the U.S., Australia and Europe, 99designs also relied on the more in-depth research of Womenable and American Express OPEN, on the state of women-owned businesses in the U.S.
Between 2007 and 2016, while the total number of business across the US increased by 9%, the number of women-owned firms increased by 45%—a rate five times the national average.
Women-owned businesses also account for 30% of privately held companies in the US, and are expected to create more than 50 million new jobs nationwide by 2018.
The Average Mompreneur
An impressive 57% of mom entrepreneurs are over the age of 40. Seventy-nine percent are married, with their partner supporting the family with income; while the mompreneur does the majority of childcare.
Although their rigorous schedules seem superhuman to most guys, a significant statistic demonstrated that 63% of mompreneurs recognise the importance of sleep, and get 6-8 hours per night. Work/life balance is important to mom entrepreneurs too, who generally spend less than 8-hours a day on their businesses.
They focus on making the right connections — cultivating relationships — every day. Pam Webber, the founder of weeDECOR, and Chief Marketing Officer of 99designs writes, “Networking is critical for any business owner, though we all know it’s not easy. Add in the complication of balancing your business and personal life with the need to connect professionally and you’ve got a real challenge. Luckily, there are tried and true strategies that can help.”
They connect with a mentor and supportive network of fellow-entrepreneurs. Mompreneurs are not afraid to ask for help, and are generally open to new ideas. They choose accountability partners, and grow as part of a community.
Many involve their families, especially their kids, in their businesses. This not only allows more time to spend with them, but instills entrepreneurial values in the children as well.
I’m grateful for the terrific research done by 99designs — the world’s largest on-demand design marketplace; and for the mompreneurs on our teams and other ventures around the world.