Playing referee, balancing the finances, and putting other people’s needs first. These are only a few of things you’re responsible for as a successful entrepreneur. And as a successful single mom.
It’s no wonder that these two worlds can seamlessly coincide. But only with the right mindset and drive.
Read on to discover how to be a successful single mom and entrepreneur without sacrificing your sanity or your life savings.
1. Identify Your Work-Life Balance
Maintaining a healthy work-life balance is essential for any entrepreneur but this is especially true if you’re a business mom. As the matriarch of the family, your children need your support, love, and nurturing. And as a business owner, your company also needs your attention and care.
Burning the candle at both ends isn’t healthy and could lead to a breakdown both at home and at work. Set realistic expectations as an entrepreneur. This means creating a flexible schedule for yourself and hiring reliable staff in your absence.
It’s also important to schedule time with your family. Maybe it means taking off every Saturday to watch your kids play sports or making sure you’re home each night for dinner.
A work-life balance is also about self-care. If you don’t take care of yourself mentally and physically, you won’t succeed at home or in business.
2. Get Your Kids Involved
Every entrepreneur knows that your business becomes your second baby. But as a single mom, you have real babies at home that need your attention.
For many entrepreneurs, their business becomes their second home. If you’re spending a majority of your time at your establishment, bring your children along when possible.
Depending on the type of company you run, try involving your children in your work. If you run a retail business, let them help run the cash register or stock the shelves.
When you’re working after hours, let your kids set up their tablets or laptops beside you. That way you can both be working together. Their involvement will help you both feel less distant.
3. Don’t Lose Focus
What is life without purpose? Keeping the vision and focus for your business at the forefront of your mind is key when life gets overwhelming.
Doubt and uncertainty are common feelings when you start your own business. You might even ask yourself things like, “Why did I think this was a good idea, again?” If you can’t answer that question, then the demands of splitting your time between home and work may not seem worth it.
But if you can answer this question with things like, “To build a brighter future for my children” or “save money for their college fund”, then it gives you a purpose. And the sacrifice won’t feel so great.
4. Find a Successful Single Mom Support Group
Single moms share a special bond that only other single moms can fully understand. It’s a job that takes sacrifice, selflessness, and hard work.
Many of the same skills are required for running a successful business. Surrounding yourself with like-minded individuals is essential for success. Find other successful single moms and work together.
You can bounce ideas off one another. Lend a hand when needed. And lift each other up when things get rough.
You can also pool your resources. Collaborate by using the same suppliers, payroll services, or advertising firms. Read more about the benefits of advertising and sign displays at this site.
Single moms can carpool, swap coupons and plan play dates in the park to help unwind.
It’s easy for both moms and entrepreneurs to get overwhelmed with demands and obligations. If you’re tackling both these challenging jobs, you’ll need to prioritize.
Try making a list of what needs to be done in chronological order. Determine which tasks can wait and which need your immediate attention. If there’s an overlap in events, adjust your schedule accordingly.
For many successful single moms, their children’s needs outweigh work obligations. That’s why hiring reliable staff who can handle the business in your absence is an important ingredient in your success.
Letting go of control is difficult. Especially when you’re used to being a one-woman-show at home. But delegating tasks as an entrepreneur will help reduce your stress and give you more with your children.
Hire reliable and trustworthy employees in managerial positions. Make these people responsible for important jobs like opening and closing your establishment and scheduling staff.
Train them in duties that you normally perform. This gives you the freedom to schedule days off and not worry that things won’t get done.
7. Be Creative With Your Funding
Keeping your head above water financially as a single mom can be extremely difficult. But that doesn’t mean you have to give up your dreams of being an entrepreneur.
Don’t let limited funding crush your business before it’s even off the ground. There are a lot of ways to get financial backing for your business venture.
In fact, there are financial resources available specifically for single moms. Small business loans, payday loans, and grants are other funding options.
One such program is the Community Development Financial Program (CDFI). The CDFI works closely with different government departments as well as the Small Business Administration. Together, CDFI’s are designed to support small businesses and offer economic opportunity and house in areas.
Get creative when it comes to financing your entrepreneurial dreams.
8. Surround Yourself with Positivity
You need positive influences in both your personal and professional life. As a single and successful mom, you need a core group of friends and employees that want what’s best for you and your children.
Steer clear of dating men that don’t support your dreams or appreciate your work ethic. If your partner feels threatened by your success they’ll quickly become a hindrance, not a help.
Hire employees that you can trust and who share your same vision and passion for success. Perhaps bringing a business partner on board would help alleviate both your mental and financial stress.
Set Yourself Up for Success
Being a successful single mom and a successful entrepreneur are more similar that one might think. They both take patience, hard work, passion, and balance.
When you arm yourself with the right recourses and surround yourself with the right people, nothing can stand in your way.