In 2022, four out of every 10 new businesses were started by moms.
Moms make natural businesswomen with their experience in multitasking, management, and budgeting. She is the CEO of the home after all.
Most mompreneurs juggle home, their business, and their 9 to 5 job. However, that balancing act will take its toll eventually. And as the business grows, you will have to make a choice. Should you keep your full time job or venture into the great unknown?
There are so many factors to consider and it might seem high-risk to quit a steady source of income. But having a job and being a mompreneur will not be sustainable in the long run.
Here are some points to help you decide if it’s time to go all-in on mompreneurship.
1.Talking about your business gets you excited.
You’re doing what you’re passionate about, and you find great joy in the small and big things.
2.You have spent time balancing your job and your mompreneur venture.
You’ve been patient. You’re playing it safe as you work hard to see your business slowly takeoff.
3.You know how much income you need to live a healthy, balanced life.
While you may not make as much as your 9 to 5 right away, you have an amount in mind to be able to provide for yourself and your family’s needs. Be willing to cut-out a few subscriptions and dinner outs, and be honest about your earning expectations. Having 2 months worth of emergency funds will give you the leeway to pursue your passions without worrying.
4.Your business model works.
All of the above, plus consistent net income is a good sign that you can take your business full-time. Dig dip, focus, and check if you’re mentally and emotionally prepared to go all-in. Are there major events happening in your family? Are you at a place where you can launch and talk about your business with confidence?
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So, when is it time? It’s up to you to decide when the time is right for this important decision. This step is lifechanging so take the time you need, dream big, and enjoy the ride– that’s what mompreneurship is all about!