After two meetings today and another phone call last Friday, the prospect of the motherhood and business ownership combination is causing some angst.
The main issue seems to be for those women business owners who are currently in business and are either planning to have a family soon or have just had their first.
They want to be able to have the combination work but just can’t seem to see how. The thought of having someone else brought in not look after their business is too much to bear. And, the thought of trying to run it full time as well as being the mother they want to be is just not fathomable.
So… what to do?
Sell it of course. That seems to be the answer. Then reality sets in. Has the business been set up as a asset, to run independently of the owner? Not in any of these 3 cases. So then what?
In the planning stage, this scenario can be sorted. It’s usually time and money that’s the prohibiting factor. When baby is already here, the mother wants the stress removed.
If only I had a chance to talk to them in the very early planning stages, to get all the planets aligned before embarking on the beautiful journey of motherhood.
If you find yourself pondering similar thoughts, please talk to me…
This time last year, the Australian Women Chamber of Commerce and Industry (AWCCI) conducted the first national survey of female business owners, featuring results from some 3000 women. I thought it opportune to revisit their findings as I suspect not too much has changed in 12 months…
- Women own almost 40% of small businesses in Australia
- there are more than 700,000 female-owned businesses
- Women’s superannuation funds and income are lower
- 24% of female business owners work 41-50 hours per week, 20% work up to 70 hours
- 76% work Saturdays, 64% work Sundays
- 17% have a turnover of $100,000-$250,000 per year
- 71% are running their first business
- 70% are providing a service
- 52% do not pay themselves a market wage
- 62% used social media in their business, mainly Facebook
- 57% work with their spouse
- 79% do not sell online
- 47% work from home
- 42% start with less than $5000
and my guess is that a large percentage of them are not building an asset to sell, nor are they considering an exit strategy.
Think I might address each one of these over the coming weeks as it seems we have a lot of work to do…
The 2013 competition is now open for entries. Entries in the competition will close on Thursday 28 March 2013.
There is over $18,000 worth of prizes, including cash, writing courses and books, to be won by finalists and winners.
Here’s the background…
A driven and caring entrepreneurial mother, who wanted to buy something specific in Australia for her child, couldn’t find what she was looking for. So she took it upon herself to rectify that problem.
To her credit, she morphed into a woman business owner (during her long-service leave break) and has turned this need into the most delightful shop, not only addressing what she needed to at the time but also making many, many more children happy, very happy since.
All hail to her…
I know, there’ll be a number of you thinking “I’ve done the same thing, what’s the big deal?” Are you now the leader in your field? Do you have the major retailers sending people to you? Are you now doing close to 7-figure turnover? Have you built your Mother of a Business into an Asset, ready to take to the market?
if not, there’s the difference…
Are you looking for a business to make your own?
Are you a “Fashionista” who has always wanted to own your own fashion business but thought it out of your league?
Could you add this to your existing business perhaps?
Then maybe this little business is for you…
Working approximately 15 hours per week, the owner is making an adjusted profit (after paying for expenses, including stock) of $38,000 – $48,000 per year for the last 2 financial years.
Ideal business for those who do not want to take the risk of a “new start up” and prefer to take over a proven business model.
Minimum overheads and low stock value.
The online business is already fully functional and profitable; therefore there will be no lag time in terms of creating immediate revenue.
The current owner has already done all the hard work setting up this business. Many variations of process have been tried, through trial and error and the current processes have proven to be profitable, with minimum working hours.
Products are fashion oriented and would suit those with interest in fashion.
Flexible working hours and potential for further growth.
As part of the sale, the current owner is prepared to pass the knowledge, tips and tricks of the trade on to the new owner.
Price includes all stock and equipment.
Interested? click here for details of what to do next…
In town for a meeting with a city retailer this morning, I wondered what I’d find.
The word “retail” is, at the moment, almost a word that should no longer be used! It’s a shame because when introduced to one business that’s working, and working well, you don’t want to see it tarred with the same brush that is the doom and gloom of others experiences.
This business may come on the market, that remains to be seen. The key thing is though that there are retailers doing well and they should be regarded accordingly.
Picture this… you’ve been running your home-based business for 16 years when you decide in 2007 that it could be a successful model for other entrepreneur mothers to follow.
After extensive planning and roughly $65,000 in consulting and legal fees, you sell your first franchise that year.
Within three months, it had failed.
This is the basis of one entrepreneurial mothers true story. To read what happened, and how she turned it around, click here. Enjoy!
3% of women-owned businesses make $1million or more a year; so why are you in your Mother of a Business?
As featured on the Ruby Connection…
A little while ago, I came across this… according to recent statistics in the Wall Street Journal from the Center for Women’s Business Research in the U.S., there is only 3% of women-owned businesses with a revenue of $1million or more in The Million-Dollar Club… (and I bet that percentage is a whole lot smaller again if being the only breadwinner for the family is also taken into account).
Only 3%, is that all I hear you say?
Given that 7-figures is the turnover my Mother of a Business was doing at time of its Sale, that put me in the category of the 3%…are you kidding? How can it be that with all the businesses started by women, only 3% manage to reach 7-figures?
Why are Businesses being built if not to serve your Lifestyle, as opposed to the other way around?
Couple that with some of the more disturbing statistics from our very own Ruby Connection “Westpac Women’s Financial Health Report, September 2011”:
- Nearly half (49%) of women agreed they felt disadvantaged in terms of the amount of superannuation they were able to save as a result of having to cut back or stop work. This view was even more likely held by Gen Y (63%) and Gen X (63%).
- After having children, 64% of women reported that it had significantly affected their ability to work continuously and impacted substantially on their working career cycle
We’re not in a very good place are we? Well, the majority of us that is.
Business gives you Lifestyle to be the Mother you long to be. No question.
In fact, it’s not just about the mothering, it’s ultimately about Lifestyle and the ability to earn what you must earn, plus a whole lot more.
Come on, join the club too…
If the notion of a 7-figure business scares you right now, you may be thinking that it must mean a whole lot of work that will take you away from your family even more? WRONG! You couldn’t be further from the truth, provided you structure properly and of course, “Start with the End in Mind”.
Just financing the family holiday is not enough of an “End” to justify all the blood, sweat and tears you will invest in your business, not to mention money…
Ladies, we’ve got some serious Business Building and Professional Development work to do…To discuss any of this further and, most importantly, to do something about it, feel free to contact me.
As Viv has discovered, there’s a lot more to being a successful Mother and building a Mother of a Business than just dreaming about it every day. It’s about behaving in a manner which builds a genuine business. It’s about having the confidence to do whatever you dream of achieving. And most of all it’s about Mothering as you want PLUS earn what you need to earn (and a whole lot more!).
So much so, she featured on p21 of the recent Green Guide in The Age newspaper.
Viv came to join my Mothers Group after previous attempts at really firing up The Web on Wheels. It would appear that this time she has done just that! Congratulations.
the entrepreneurial mother® Mothers Group has been developed in response to an overwhelming number of requests asking me to share my knowledge. However the majority wanted more than just help. They wanted to transform their Mother of a Business, they wanted to start achieving. And they wanted real backing to do it. Not simple once off help, not just electronic help but live and timely ongoing structured interactive support.
Is It a Sin For You To Want More?
Organise a Mothers Group of your own and/or Join mine and
You’ll Be Gaining More Than Just Profit
This is my way of truly demonstrating how you can to Learn to Earn and Build a Mother of a Business as an Asset, in your own guilt-free school hours.
I value my fellow entrepreneurial mothers because word of mouth and recommendation is the most effective form of marketing known to the human race, and the most flattering!
Hold your own Mothers Group, and/or Join Mine and
You Could Be On Your Way to Much More
Than You Had First Imagined…
Give me One Lunch, One Evening, and I’ll Get You Started…
Organise 8 or more people in a room, and I will come!
Think Mothers Group with a Twist.
Think Party Plan for your Business!
It’s as simple as that. (Australia only at this stage I’m afraid, although other destinations will be considered)
Whether it’s to be in the school hall, the church hall, the classroom, the lunch room or your lounge room; and I will be there to talk all things Mother of a Business, and Starting with the End in Mind TODAY, regardless of how old your business is…
Or you can join my existing Mothers Group where you get to talk to me and the likes of Viv, on a regular basis…
Interested in finding out more?
Either email my invitation or request information to email@example.com
I look forward to hearing from you…
The co-founder of the Huffington Post marks its arrival in the UK with a lecture on love, guilt and getting what you want. She talks to Celia Walden.
Fresh off the plane from LA, the Greek American author, businesswoman and co-founder of internet newspaper the Huffington Post - bought by internet provider AOL for $US315 million ($298 million) in February this year and launched in Britain last week… read the full story & more