3 Massive Mistakes Even Smart Entrepreneurial Moms Make That Keep Them Unhappy and Underpaid
As a mom it’s critical for you to balance a circus of roles including personal chef, janitor, chauffeur, and famed “owwie kisser”. However, as an entrepreneurial mom (with a to-do list a mile high) for both your family and business, keeping your sanity is just one of the keys to not letting it all fall apart. Why? Simple. Any husband will tell you that: “if mom’s not happy, no one is happy”.
Yes, having your own business is great; you get to work from home, set your own schedule, and even call in sick (without risking the boot). Yet, all of those things mean nothing if you’re unhappy and underpaid.
Here are 3 Massive Mistakes Even Smart Entrepreneurial Moms Make That Keep Them Unhappy and Underpaid:
1. Price Competition
I don’t care what type of business you have (product or service based) there’s always the issue of pricing. Too many mompreneurs are cutting themselves short by trying to keep up with their competitors’ low prices. One of the worst things you can do is compete on price; in doing so you put a cap on your income and allow someone else to determine your financial stability. In addition, you’ll be stressed out and overworked. Remember, your customers are looking for a solution to their problem. Show them you can solve their problem better than anyone on this earth and they will happily pay you 10X the amount of your competitor.
2. Misuse of Time
Working from home has its perks. For one, there’s no nosy boss looking over your shoulder; and two, there are no annoying coworkers you want to make mysteriously disappear (admit it, you’ve thought about it too). With this enormous freedom it’s even more important that you manage the time you have wisely. It’s easy to get caught up in social networks; you start off responding to your customer email and then {ping} you get a Facebook notification that you can’t resist. Before you know it 1 minute turns into 5 and the next thing you know you’ve spent your entire day LOLing and Liking. Misusing your time is a mistake you do not want to make. Time is money and the less time you devote to your business, the less money you’ll have. To avoid this mistake make a list of things you must do for the day. Complete each task first before turning to any personal activities. Set your working hours aside from your play hours and never engage in non-money making activities until your work is done.
3. Paper Chasing
Now, unless you’re a nonprofit organization making money is a MUST. However, it’s not uncommon to see mompreneurs start a business based on the amount of money they could make. Yes, moolah is important, but you’re making a huge mistake if your primary focus is on the money. Think I’m crazy? Let me explain. When your only focus is money it’s reflected in your work. Your customers will notice the poor service (and probably never return) and you’ll be stressed at any little problem that you’ll start running in the opposite direction of your clients. Imagine if you loved your clients and they loved you so much they constantly sent you more clients through referrals. Do you think money would be an issue? Heck No. You would have so much dough rolling in you’d need a second bank account just to hold it all. The point here is simple: Do what you love. Find out what you’re truly passionate about and then figure out a way you can use it to help others. Make a list of your gifts, talents, skills, and hobbies. When you can supply a solution to someone’s problem, it not only fills your heart, but also your wallet.
As an entrepreneurial mom it’s important that you love what you do AND you get paid well for it. Can you say both about your business?
| Neoshi Green is a Mompreneur Mentor who helps new and ambitious mompreneurs tune into their passion to create a business and life they love. As a former “stay–at-home mom”, Neoshi is passionate about helping moms take charge of their lives by discovering their divine gifts and passions. She inspires women to look outside their roles as mothers and discover how they can leave their own unique mark on the world. |
Great article, I have sure made some of those mistakes!
What an informative article! I know all too well about using time wisely. It seems like all I am doing is running around trying to make more hours in the day!
These are all dead on. From personal experience not only as a blogger now, but as a previous small business owner. There’s so much “competition” out there, you have to really have the confidence to stand out and own it.
I need to be MUCH better about budgeting my time at home!
Oh my gosh– #2–Misuse of time is me. I have such a hard time focusing at home that I’ve considered going somewhere to work during the day!
I know that I am not making nearly what I could be making but staying home with my little ones while they are little is satisfaction enough.
There was rumors about a raise but it’s not really translating into dollars so I might have to up my prices for sure.
Great post!
Me too, Kari Ann! I think it’s too hard not to.
If only there were more hours in the day…lol Thank for commenting!
Absolutely, Hanan! I truly believe that there is enough business out there for everyone. Why compete when you can collaborate?
It is so easy to get off track during a project, especially if you have kids! I find myself taking a break to help the kids out and completely lose my train of thought..lol
Thank you heather! Pricing can be a tough one. And you are so right. Being home with the kids is priceless!
Me too, girl. Time is like money, it’s always running out!
I agree on the social networking aspect, as bloggers it can be so difficult to stay focused when on the computer. I would have to change “Paper chasing” to email chasing. I spend a huge amount of time sloshing through my emails daily.
Totally, Digna! I get email overload all the time. I try to set a certain time out of the day just for emails. I use the mornings to focus on my design work and email towards the end of the day.
Misuse of time is a huge issue here!! Sometimes Id rather relax after a long day than sit and work!
I am guilty of getting sucked into social media. A kitchen timer is your friend!
Misuse of time … sigh… yes, this is a big problem for me.
I know we price ourselves cheaper when we first started out so we could build clientele after we built them we started inching up in prices. Great tips stopping over from SITS
Number 2, so spot on! Great article!
Love this article! It is most helpful and I am guilty of making a few of those mistakes. Thanks so much for sharing!
Great article! I have been guilty of many of these.
You are SO right about the time sucking. I am the WORST at it and the days I get really into my schedule, I blow my weeks up!
Great tips. These are such easy mistakes to make. I know I have made many of them especially undercutting myself but I’m working on it.
Thank you for the tips! Great article!
Count me in on time wasting. Sometimes it just gets away from me.
Kas
Short, simplistic, and straight to the point! Awesome article Neoshi! Love it!
You are very right! It’s so much more important to enjoy what you’re doing that make money! The money will come.
Great tips, especially about time misuse. I have been guilty of it in the beginning until I finally worked out a schedule I am sticking to!
Yes, enjoy what you do first and the money will come!
Yes!!! Schedules and lists are my friend and makes things so much easier. Thanks for stopping by 🙂
I make a lot of those mistakes. Particularly, the Facebook one. Happy SITS day!
This was a cool, easy-to-read, and, most of all, INSIGHTFUL post…it’s been bookmarked.
Thank you.
Happy SITS Day, and enjoy your weekend!
This was a cool, easy-to-read, and, most of all, INSIGHTFUL post…it’s been bookmarked. Thank you.
Happy SITS Day, and enjoy your weekend!
Thank you JoAnn. Happy SITS day to you too!!
Thank you Courtney. I am glad you found Neoshi’s tips helpful!