Pros & Cons of Owning Your Own Business

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#292 - Unlock the secrets of successful mompreneurship with me as we navigate the rewarding yet challenging journey of balancing motherhood with entrepreneurship. In this episode I share my perspective on managing these dual roles. Discover how to harness the power of organization, task prioritization, and effective planning to achieve both personal and professional success. Whether you're dreaming of financial independence or craving a flexible schedule to harmonize work and family life, this episode provides the insights needed to make informed decisions on this transformative path.

We delve into the heart of what it means to be a mompreneur, sharing real stories and practical advice to help you thrive amidst the chaos. Explore the diverse range of businesses today's moms are spearheading, and get inspired by the endless possibilities that await. We don't shy away from the tough stuff, addressing the stresses and risks that accompany this journey, but also offering strategies for overcoming them. Plus, I'm here to offer guidance and support, ensuring that you're never alone as you pursue your entrepreneurial dreams while nurturing your family. Join the conversation and feel empowered to step boldly into the world of mompreneurship!

Connect with Teresa on: Instagram or Podcast Website

Episode Transcript

Speaker 1 (00:09):
Hey, my name is Teresa Hildebrand and this is
Organized Chaos.
We take a deep dive into livingwith intentionality, focusing
on what's important in our livesso we can truly feel our best.
It may feel chaotic at times,but with a little organization,
the right mindset and a ton ofself-love, we can still thrive.
Join me as we talk to otherbusy moms and experts who will

(00:31):
share tips and strategies tohelp you reach your goals.
Hope you enjoy this episode ofOrganized Chaos.
Now on to the show.
Hey friends, welcome to anotherepisode of Organized Chaos.
So today, doing something alittle bit different.
So I am replaying an existingepisode that I did last year and

(00:51):
this is the pros and cons ofmompreneurship.
Now, every now and then I'll dothis because I mess up, I don't
plan ahead or I forget that thekids are off and I don't have
any place to actually record anew episode.
So today I am giving myself thegift of existing content and

(01:13):
giving that to you.
But I wanted to bring it backup to the surface, this
particular episode, because Ithink it's just a good thing to
have you know, kind of like atthe top of mind, and really
talking about the risks and thebenefits of mompreneurship.
So, without further ado, here'sthis episode.
Hey everyone, welcome to thisweek's episode of Organized

(01:37):
Chaos.
So today we're going to explorethe benefits and risks, or pros
and cons, of mompreneurship.
There's a lot of uniquechallenges and advantages that
come with being a mom and anentrepreneur.
So whether you're already inthe thick of it or you're just
getting started or you'rethinking about creating a

(01:59):
business, this episode will giveyou some really good insights.
We all want to know that we'reon the right path and we also
want to plan.
So knowing the good, the badand the ugly of what you're
pursuing can be helpful so youcan be prepared.
So I'll explain whatmompreneurship is and kind of

(02:22):
what it entails, and then I'llgo into some of the advantages
that come from being amompreneurship is and kind of
what it entails, and then I'llgo into some of the advantages
that come from being amompreneur and also kind of
discuss the potentialdisadvantages of being a
mompreneur, and then I'll justshare my final thoughts.
So this is going to be a prettyquick episode, all right.
So first let's define what amompreneur is.

(02:44):
So whether you love the term oryou hate it, it's a term that
gets used a lot to describe amom and an entrepreneur, and
it's a mom who runs a businessin addition to, you know, caring
for her children or otherresponsibilities, her children

(03:06):
or other responsibilities.
The actual use of the termmompreneur has increased because
of the uptick in the number ofwomen who have created
businesses while raising afamily, and in many cases,
motherhood has inspired ideas tocreate a business, and
mompreneurship is basically justcombining the word mom and
entrepreneurship.

(03:28):
And the types of businesses orindustries that mompreneurs
create or join are, for example,blogging, some type of handmade
product, graphic or web design,photography, virtual assistance
, consulting, personal training,accounting, event planning,

(03:49):
coaching, et cetera.
So there's tons and tons ofdifferent types of businesses
that moms can actually createmany times online, which is
probably why there's also theincrease in mompreneurs, because
it's I don't want to say easy,but it's so accessible for women

(04:12):
to be able to create businessesnowadays.
And you know I'm not justtalking about women, I mean
people in general.
So let's start with the goodstuff and keep in mind that this
is basically when all of thestars align at this point.
So you know some of the prosthat I'm going to be talking
about here is when things aremoving smoothly and you kind of

(04:36):
have your flow.
So starting off with benefitnumber one is flexible schedule.
So being a mompreneur allowsyou to work when it fits into
your life, so you can spend moretime with your family and take
care of your needs as well.
Benefit number two is the kindof elusive work-life balance.

(05:00):
Now, it's really easy to justsay work-life balance, but there
truly isn't a balance.
There's kind of a give and take, but let's say, for the sake of
simplicity, we'll call itwork-life balance.
So this is when maybe you'reallowing yourself to work from
home and it gives you morecontrol over your time, so you

(05:21):
can create that quote unquotework-life balance that works for
you.
All right, so number three,benefit number three is
financial independence.
So owning your own business canprovide you with financial
security and independence.
There is always that potentialto create financial freedom.

(05:44):
The benefit number four ispride and accomplishment.
So being a mom and a businessowner can be extremely rewarding
, as you're able to createsomething pretty much out of
nothing and watch it grow.
So I'll leave you with the fouradvantages.
There's plenty more, but I justwant to keep it simple.

(06:08):
So now let's talk about thedisadvantages.
So the disadvantages ofentrepreneurship is stress.
Starting a business can bestressful and challenging, and
juggling motherhood and abusiness can be even more so.
So risk or con number two istime management.

(06:32):
So finding the time to balanceyour business and family can be
really, really difficult.
I mean, it's hard enough as itis to be a mom and you just, you
know, throw in a running abusiness and growing a business,
this it just becomes reallyreally difficult to manage your

(06:55):
time.
Of course, there's many peoplewho can overcome that and that's
just something that we get tolearn along the way.
But Especially at the beginning, it can be very hard to manage
your time, all right.
Risk number three is a financialrisk.
So starting a business can berisky and you may not always

(07:18):
make a profit at the beginningor it just may be inconsistent.
Like owning your own businessis not a you know, it's not
always steady income.
There's ups and downs.
Sometimes you make aconsiderable amount of money and
then other times there's like adip, in that it really depends

(07:41):
on the type of industry and thetype of business that you have.
So in anything there's always arisk, all right.
So risk number four isespecially, you know one of
those cons that are veryspecific to working from home
and that's isolation.
So many moms that work fromhome work alone and that can

(08:05):
lead to feelings of isolationand loneliness, especially if
you're a people person.
So I really, really struggledwith this when I first left my
job to work on our businessbecause my kids at that point
were of school age, so I woulddrop them off at school and then
I would come home and I wouldbe at home by myself for seven

(08:29):
hours when my husband was atwork.
So it was tough.
You know I was.
I was excited about running ourbusiness, but you know, coming
from the corporate world and youknow, always being able to to
see people and chat with peopleand interact with other people
face-to-face was very, very hard.
So that's it.

(08:51):
Those were the benefits andrisks of mompreneurship and I
hope this gave you a betterunderstanding of this and just
remember that the key to beingsuccessful is to stay organized,
prioritize your task and findthe right balance between your
parenting and business or otherresponsibilities.

(09:13):
We're all going to experiencethese risks, but we're also
going to experience the benefitsif you keep at it and you plan
and you're prepared.
So a lot of these risks caneither be mitigated or avoided
altogether if you have the rightsteps, and sometimes you need

(09:35):
someone to help you with that.
So if you ever do need helpwith navigating through
mompreneurship, please don'thesitate to reach out to me and
I would be happy to help.
All right, I hope you have anamazing rest of your day and
I'll see you next week.