7 Pieces Of Business Advice From Mompreneurs
Finding a balance between work responsibilities and enjoying time with family can be a difficult task for any parent who owns their own business. This becomes even more apparent during the holiday season when time becomes more stretched and sales performance can make or break a small business.
In late 2018, our team at Vistaprint worked with OnePoll to conduct a survey of 500 business-owning moms from the U.S. According to this study, nearly three-quarters (74 percent) of entrepreneurial moms say the performance of their business in 2019 depends on the revenue they earned during the 2018 holiday season.
On average, this group earns more than one fifth (21 percent) of their annual income during this time of year. Because of this, they often face difficult trade-offs when it comes to their children and families during the holidays.
Having worked with countless entrepreneurial moms over the years, our team at Vistaprint knows they are often trying to do it all. That’s a lot of pressure to take on at such a busy time of year in their business and personal lives. In fact, 47 percent of moms say the holidays are their most stressful time of year.
But, many of the business-owning moms we surveyed also said they’re able to find the balance they need to have a happy holiday at home and a successful season in their small business.
Here are some top tips from the business-owning moms we talked to.
1. Create a schedule and stick to it.
Nearly half of the moms we surveyed (43%) say they adapt their schedule/working hours to spend more time with their family. Forty-one percent say they specifically schedule family time – making appointments just as they do for their business.
2. Make a list. Check it twice.
Although it may seem simple, we found this to be among the top tips. Creating a prioritized task list for work and home allows you to set achievable goals that keep you on task and allow you to feel accomplished at the end of each day.
3. Shop now, sell later.
When time is at a premium you don’t want to be spending what little free time you have away from family shopping for gifts. If you can get any holiday shopping out of the way early, you can focus on creating sales in your own business and spend more quality time with family.
4. Know your value.
Your time is important and that gives it a monetary value. Even though there are sales going on in many businesses throughout the holiday season, you shouldn’t feel the need to discount your services. Understand your bottom line and don’t dip below when it doesn’t make sense.
5. Learn to say no.
The holidays are a time for giving but realizing how to say “no” to unrealistic expectations in both your personal and professional life can save you a lot of time and hassle. No one can do it all on their own. Develop a support system at home and at work that allows you to delegate tasks and take on only what you can handle.
6. Set aside time for self-care.
Entrepreneurial moms who work on their business full-time (40 hours per week) have an average workload of 54 hours per week during the holidays. In fact, more than one-fifth (21%) of those surveyed say they find themselves working more than 60 hours per week throughout the important holiday season.
But, there’s only one of you. If you’re sick and unable to work, your business will likely suffer, and you may miss out on time with family. Taking care of yourself is just as important as taking care of your family and tending to your business.
7. Make it a family affair.
Most moms (61%) say they handle holiday stress by carving out downtime with their loved ones. In fact, nearly a quarter (22%) say they find ways to involve their family in running the business. It gives them a glimpse at what you do and gives you more time together.
In addition to this study, the Vistaprint team created a video expressing our continued admiration of business-owning moms, especially during the holidays. We’re looking forward to working with all our small business partners (and parents) in the year to come.
Erin Shea is the North American Country Director for Vistaprint, focused on driving continued growth and customer satisfaction within the US and Canadian markets. In addition to her current role, she has also worked in a number of other marketing roles at Vistaprint and across the industry specializing in customer retention, email and direct mail marketing, integrated merchandising, and seasonal event planning. She received her B.A. from Marist College located in Poughkeepsie, NY.
About the Study
OnePoll conducted a survey for Vistaprint with a sample of 500 business-owning moms from across the US in October 2018.