One of the concerns most busy moms have is “Do I have enough time to start a business that actually makes money?”
This is a valid question, and one you should fully explore before getting started.
As with most things in life and business, there is no set answer to this question other than, “It depends.”
Which is good news for those of us who already have a full time job of raising a family and would immediately be disqualified from being small business owners if we needed 40+ hours a week to be successful.
Perceptions of the Entrepreneur’s Life
There are two perceptions that people have of entrepreneurs that can really color our decision of whether to start our own business.
The first is that the entrepreneur’s lifestyle is glamorous and carefree.
Under this version, we see ourselves sitting on the beach with our laptop, putting in an hour or two of work, then shutting down to play in the sand with our kids the rest of the day as the money rolls into our bank account.
The second view has the entrepreneur as stressed and constantly hustling for business.
There’s a saying entrepreneurs like to put out there, only half-joking, that I’d rather work 80 hours a week for myself than 40 hours a week for someone else.
Under this definitely less pleasant version of being a business owner, we see ourselves wearing every hat there is in our business and working before the kids get up, while they’re playing at the park, while they nap, and after they go to bed.
So where’s the reality?
Does it take 10 hours a week to be an entrepreneur, or 80?
Not surprisingly, the answer depends, and likely lies somewhere in between these two numbers for most of us.
What the Studies Say
If you were to Google the question before deciding whether you have the time it takes, you’d likely get a little depressed.
(But just like you shouldn’t self-diagnose your medical conditions on Google, nor should you base your business decisions on it!)
A New York Enterprise poll reveled that most small business owners worked at least 50 hours a week, with 25% claiming to work more than 60 hours a week.
A Gallup poll reported that 62% of small business owners work 50 hours a week or more, with the average being 52 hours a week. Fifty-seven percent reported working six days a week, or more.
A third study revealed similar results, with 49% of small business owners reporting they work 50 hours a week, or more, while 33% work 40-49 hours a week.
What’s a Mom to Do?
With these kinds of numbers popping up consistently in the published studies, it seems virtually impossible for one to be a mom and a small business owner.
Obviously, this isn’t the case, as thousands and thousands of moms around the world can attest to!
So, why do the numbers lie?
None of the published studies give any insight into what type of business the respondents are running, what they do during all those hours, how long they’ve been in business, or what their profit is.
For moms, we just have to be picky on what kind of business we start and how we run our business.
There are basically three boxes to check if you’re a stay at home mom looking for a side business to that of raising your kids.
First, the business you start should be online, so you can work at home and for the most part, make your own hours.
Second, you need to have a business mentor who can help you cut out the waste and focus on doing the activities in your business that make money.
A business consultant involved in the New York Enterprise poll stated she was able to quantify that entrepreneurs spend 20% of their time on low value work.
For starters, an experienced mentor can decrease your work hours by 20% just by cutting out the low value work and focusing on what brings in the money and delivers good service.
Third, you need a business that you can grow at your own pace.
This simply means that the fixed costs of doing business can’t be so high that you’re forced to take on 100 new clients a month just to pay your expenses.
Fortunately, most online businesses meet this third box that needs checking.
But How Many Hours DO You Need?
Realistically, to get the momentum you need to start getting clients through your virtual door and have a consistent income, you’ll need an average of 2-3 hours a day, or 10-15 hours a week. (Moms never plan for more than a five day workweek!)
You’ll need time to set your business up, for ongoing training to become better, time to market your product or service, time for administrative duties and dealing with prospective customers, and time to actually deliver your product or service.
Will you grow slower if you spend 10 hours a week than if you spend 20? Naturally, yes.
But who cares? You’ll still grow.
And yes, things do get easier the longer you’re in business.
How Do I Get Started?
At Kids Party Characters, owner Cheryl Jacobs is as enthusiastic and dedicated to helping moms as she is to making sure children experience the party of their dreams.
Cheryl is an experienced business owner, a serial entrepreneur, and a mom who once faced the dilemma of how to put food on the table.
She’s turned her success into a mentorship program for other moms and struggling entrepreneurs by offering memberships to her KidsPartyCharacters.com business.
With membership, you get an exclusive territory in which to book parties, the right to use our 200+ costumes, access to our casting director and acting coach, and the business training and support that is crucial to a new entrepreneur’s success from Cheryl and the whole team at KidsPartyCharacters.com.
In addition to the mentorship, one of the great benefits of a Kids Party Characters business is that it's already set up for you, making the number of hours you have to put in to make your business successful even less.
If you’re ready to explore the possibility of having your own business, hop on the phone with Cheryl for a no-pressure chat where she can answer all your questions, ease your fears, and tell you exactly how to get started. You can schedule your call right here.
Want to see more about what having your own Kids Party Character business is all about? Connect with us on Facebook for daily updates.
No comments:
Post a Comment