"Mompreneurs"

There was a great article in the Work & Money section of the Sunday, May 10, 2009 edition of the News & Observer. The article was on the front page of this section and the title was "Moms who make it work". They used the term "Mompreneur" to describe moms who invent something that they see a need for then start a business by selling the product or service. This trend has been increasing over the past couple of years as more and more moms decide to leave the corporate world of travel, late evening conference calls, and long and demanding hours in the office. Starting a business is a great way to work a schedule that better suits a parent's need to be there for their children. When a parent can work from home, be there when children get out of school, and be available to transport children to and from activities -- it is the best of both worlds -- that is, working and staying home.

But, sometimes it's not all good. As I read through the article I saw that one mother was so successful that she actually works longer hours than when she was in the corporate world. And of course, there is the chance of failure. You may think your idea is great but if it is not marketable or you are unable to find sellers, you may find yourself creating debt but no income. One person in the article mentioned that it is wise to have a set amount in which you and your spouse agree is the most you can affort to spend on the start up of a new business. Once you have spent your budget, evaluate the situation before making decisions to spend more money.

I like the idea of "Mompreneurs". I read the magazine, Working Mother as soon as it hits my mailbox. There are thousands of success stories about women who start businesses and are very successful There are also stories of failures but anyone in business will tell you that sometimes past failures in business create future successes. You just need to be able to learn from your mistakes.