Thinking Capital is now DRIVENtm... Learn more.
Thinking Capital is now DRIVENtm... Learn more.
Thinking Capital is now DRIVENtmLearn more.
Thinking Capital is now DRIVENtmLearn more.
The balance magazine/

‘Momtrepreneurship’: Tips and Resources to Succeed as an Entrepreneurial Mom

‘Momtrepreneurship’: Tips and Resources to Succeed as an Entrepreneurial Mom
May 12, 2023

When it comes to the idea of a successful career, entrepreneurship has become more popular in recent years. Becoming a business owner is now more accessible to individuals of all ages and backgrounds, but many women still find themselves feeling apprehensive about taking that leap of faith. In fact, only 18% of Canadian small and medium-sized businesses are owned by women, something that we are keen to change.

Mothers often have more to consider then others when taking on the role of an entrepreneur. The juggling of family responsibilities and running a business can seem overwhelming. However, for those mothers who are willing to take the challenge and make the commitment, the rewards can far outweigh the risks.

In this article, we'll explore some tips for entrepreneurial mothers, including defining success, setting boundaries, finding a support system, and self care. Additionally, we will provide resources for women in business that offer support to help them achieve their goals, including funding and grant options. With the right approach and resources, mothers can thrive both personally and professionally.

Tips to Succeed as an Entrepreneurial Mother

  1. Define Success

Defining success requires a delicate balancing act between professional and personal aspirations. Success may mean achieving financial stability and recognition in the business world, while also being able to spend quality time with family and pursue personal goals.

To define success, you should take a holistic approach and identify what is most important to you and your family. Where would you like to be in 5 years? Set achievable goals, both in business and personal life, and strive to achieve them with focus and determination. It's also important to recognize that success is not a one-time achievement, but a continuous process of growth and development. Celebrating small wins and learning from failures are equally important parts of the journey towards success as an entrepreneurial mother. Ultimately, success is defined by one's own values and priorities, and the ability to create a fulfilling and meaningful life that balances both professional and personal pursuits.

  1. Find a Support System

As an entrepreneurial mother, it's essential to have a strong support system to help you navigate the challenges that come with managing both your business and your family. This support system can come in the form of friends, family members, or other entrepreneurs who can offer guidance and advice based on their experiences. Building relationships with others in your field can also be helpful, as it can provide opportunities to network and collaborate. It's important to identify individuals who can help you in both your personal and professional lives, and to nurture those relationships by staying in touch and offering support in return. Remember, you don't have to go through this journey alone, and having a support system can make a significant difference in your success and well-being.

  1. Set Boundaries

Setting boundaries is essential when it comes to being successful as a mother and an entrepreneur. This means setting aside time for work and home life, and making sure that your family knows when you need to focus on your business. It can also be helpful to create a schedule that keeps you organized and on track.

Setting realistic expectations and learning to say no to tasks that don't align with your values or schedule is crucial. Prioritizing self-care and making time for yourself is equally important, as it will help prevent burnout and allow you to give your best in both your work and personal life. Remember that setting boundaries isn't selfish; it's necessary for maintaining a healthy work-life balance.

  1. Self Care

As a mother and entrepreneur, it's easy to put everyone else's needs before your own, but it's crucial to prioritize your own physical and mental health. Taking time for yourself allows you to recharge and refresh, which can ultimately help you be more productive and successful in both your personal and professional life. This can include activities such as exercise, meditation, or spending time on hobbies you enjoy. It's important to carve out time for yourself regularly and to make it a priority, just like any other important task. Remember, taking care of yourself isn't selfish, it's necessary for your overall well-being, and it sets a positive example for your family and employees.

To learn about some strategies to maintain your physical and mental health check out Improving Your Health is Improving Your Business.

Resources for Women in Business

  1. Women's Enterprise Organizations of Canada - Women's Enterprise Organizations of Canada (WEOC), is an association that caters to a broad spectrum of organizations that have a direct impact on the progress and prosperity of female entrepreneurs. The members of WEOC come from various regions and represent diverse populations, and they extend support to women entrepreneurs by providing various initiatives like business training, advice, financing, and mentorship.

  2. Canadian Women's Business Network - The Canadian Women's Business Network (WBN) strives to provide programming that assists its members and guests in achieving their goals and attaining their desired level of success. The organization facilitates meaningful approaches to networking, embracing new ways of enriching its connections and raising awareness of its members. WBN welcomes businesswomen of all ages, cultures, industries, and professions and serves as mentors, sharing experiences, challenges, and wisdom, collaborating within the network and, ultimately, with the greater business community.

  3. Women Entrepreneurship Strategy - With the introduction of the Women Entrepreneurship Strategy (WES), the government is taking significant strides towards empowering women economically. This pioneering strategy, worth almost $7 billion in investments and commitments, aims to enhance women-owned businesses' access to financing, talent, networks, and expertise required to initiate, expand, and enter new markets.

  4. Business Development Bank of Canada - The Business Development Bank of Canada (BDC) is one such program that provides financing, consulting, and other resources to Canadian businesses, including women-owned businesses. The BDC offers customized financing solutions to meet the unique needs of women entrepreneurs, including loans, lines of credit, and venture capital. The BDC also provides advisory services, such as business planning, financial management, and marketing strategy development, to help women entrepreneurs start, grow, and succeed in their businesses. Moreover, the BDC has a Women in Technology Venture Fund, which invests in women-led technology companies and aims to increase women's representation in the technology sector. Through these programs, the BDC is contributing to the economic empowerment of women in Canada.

  5. Canada’s Total Mom Pitch - Total Mom aims to provide support to moms in both their personal and professional lives, helping them transition from feeling overwhelmed to feeling empowered. With a focus on global accessibility, Total Mom offers a range of programs, including business initiatives, wellness activities, coaching, and mentorship. By catering to the unique needs of moms, Total Mom provides a community of like-minded individuals who are juggling motherhood and their business. Take a look at their programs and experiences to see how Total Mom can help you thrive.

Parenting and running a business at the same time might seem overwhelming, but with the right attitude and resources it's possible to be successful. Define your success, set boundaries, find a support system, and take care of your health to keep your workload manageable. Be sure to look within yourself too, so you can tap into what makes you unique as an entrepreneur. With these simple tips and valuable resources for women in business, moms can achieve 'momtrepreneurial' success by balancing their family’s needs with their own goals. Self-care may be essential for working mamas but that doesn't mean it can't also bring joy! Enjoy each moment of your journey – even the challenging ones – since there’s no better feeling than giving your all to something worthwhile. Keep going like a mountain mama and take advantage of every opportunity that comes your way!

More resources

Advice and research for Canadian small businesses from our expert team

We've got you

We're here to make life easier for Canadian small to medium businesses like yours. How can we help you today?