3 Reasons Why Moms Make Great Entrepreneurs
KARL R. LAPAN, PRESIDENT AND CEO OF THE NIIC
Mothers are a particulars special breed in their own right, and it turns out some of the qualities that make a great mother can also translate into great entrepreneurs. I am fortunate to have grown up with an incredible mother who encouraged, inspired and supported my dreams. Having lost her just two short years ago, some lessons learned from her modeling on what it meant to be a great mother and for all the great things she did (and sacrificed) for me in my lifetime can directly translate into a budding entrepreneur or business builder.
1. They tackle problems head-on and aren’t easily deterred by failure.
Early morning feedings, messy diapers and many sleepless nights mean mothers are adept at working through stressful situations. Entrepreneurs have to handle unpleasant situations, too, and often face the same existential questions, like “is this lifestyle really for me?” But like mothers, sometimes it’s the small wins that make getting up every day worth it for entrepreneurs.
Moms know that every day is a chance to start fresh. Entrepreneurs who take up this healthy attitude can keep their sights set on the big picture and move closer toward goals.
2. They know how to prioritize and juggle the need to be in multiple places at the same time.
Between carpool, baseball practice, making dinners, etc. the modern mother is juggling a lot and knows that time is at a premium. Like supermoms, entrepreneurs must know how to differentiate between pressing tasks and those that can wait. They also know that they are bound to disappoint people (like that over-zealous PTA president from Bad Moms), and that’s part of putting your family first. Similarly, entrepreneurs sometimes have to make tough choices for the sake of their business, and sometimes that means turning off customers or suppliers.
3. They aren’t afraid of self-funding and bootstrapping their venture.
Women make the majority of household decisions regarding spending. That means they usually have a handle on the family’s financial health and goals. They know how to be thrifty and make sound money-related decisions for the good of the family unit.
Many entrepreneur types rely on their savings for seed money, at least in the early stages. That means they must examine each decision with the same consideration as a mom running a household. No decision is made in a vacuum. Scrappy entrepreneurs know they have to embrace those same values when it comes to managing capital.
If you’re a mom-turned-entrepreneurship, how do you find your experience has helped you excel in the business world?