Mompreneurs, Et Al

So much has been written about work/life balance, yet, who exactly has been able to achieve it? “Mompreneur”, a term coined about ten years ago, described women with young children who were leaving the work force to be home with their kids, and who ultimately designed a successful blueprint for combining family life with the world of work.

Lest the “Mompreneur” explosion (nearly two thirds of home-based businesses are owned by women with children), be viewed as a passing fad, a 2007 report stated that a variety of groups will change the face of entrepreneurship over the coming decade. Often, by focusing on a niche market with which they are familiar, these individuals will come from the ranks of high-schoolers (Teenpreneurs), new immigrants (Newpreneurs), middle-lifers seeking change (Midpreneurs), retirees (Seniorpreneurs)-make up a name which describes who you are, what you want to pursue, or what you plan on offering:

· Entrepreneurship is more prevalent and lifestyle–friendly- technology, particularly the use of cell phones and the internet, has changed the face of doing business (often doing so at any given hour of the day or night).

· Recipe for success: choose a business idea that inspires you and can incorporate all your values, research the need for the products or services you’ll be offering, affiliate with a network of like-minded colleagues, a willingness to probably work long hours, and make it a family business where everyone pitches in.

· Be realistic-list the perks of a home-based business: making your own hours, more time with kids, partner, family, etc., no commuting or rent vs. the drawbacks: lack of daily camaraderie with co-workers, need to be a self-starter and be disciplined (it’s easier to procrastinate), no formal office.

· A 2006 interactive survey found that 60% of fathers interviewed (only 3% less than the mothers), voiced a desire to be at home with their families. There is also a significant rise in the number of fathers who have primary custody of their children, all signaling a need for Dad(or Parent)preneurs.

· Incorporate all you learn from trial and error-endless planning, feedback and research goes into setting up any kind of business, but flexibility is still the byword. The best laid plans often get tweaked or substituted for even better and more ingenious ones.

· It’s stressful and often inefficient to constantly be a one-woman (or man) band -outsource whenever possible (try bartering goods or services), use a virtual office program, network in person or on the internet (look into “meet up groups” which fit your needs), establish a Mastermind group, etc.

· Establish your own dream team- build a substantial and sustaining support system, with a myriad of resources-from your personal boosters (spouses, children, family and friends), to reliable babysitters, financial experts, webmasters, etc.

· Consider the possibility of working part-time at home and also having a separate “real” office -this can be done by sub-leasing office space, bartering services for the occasional use of an office, share space to reduce costs.

· Start small (but think big), and grow as orders or clients really multiply.

And remember, taking action is the catalyst for change!