I grew up as the child of two small business owners. Not only is it in my blood, but it’s what I actually experienced growing up. And while I haven’t implemented everything I was taught growing up into my own businesses (because let’s be honest, not all of it was good), I definitely had a leg up!
To a certain extent, I always knew I would have my own business one day. I have big dreams – both professionally & personally – and am so, so fortunate to love what I do.
Being a business owner comes with some amazing benefits, but it is NOT all sunshines & rainbows. Let’s break down the basic pros & cons of having your own business, especially if you’re a mom.
PROS
Flexibility
It’s hard to be there to both drop off AND pick up your kids from school in the corporate 9 to 5. I drop the boys off to school every morning and pick them up on time 3 out of the 5 days of the week minimum. I get to be there for school mass, Thanksgiving feast, field day, and just about anything else I choose to be at.
Earning Potential
Ultimately, you control your destiny and that of your business. I find that the more energy you put in, the more reward and better results you expressly see. This isn’t always the case when you’re working for someone else. Typically you’re putting in more energy and effort, but they see more of the reward.
Multi-tasking
I love that on days I work from home, I’m able to move the laundry over, get dinner started, get an Instacart delivery or whatever else I need to get done that requires me to be home. Sometimes I even trade off weekdays to run errands because crowds are less and than work at home on a weekend day.
Control
I really love being able to have more control over my schedule, how much I make and what I do on a daily basis (ie focusing on the things that truly light me up and letting go of the rest). Being a business owner works well with my personality – I’m highly motivated and don’t like taking orders from others. LOL
CONS
No work = No money
If you’re not working, you’re either not making money or moving the needle forward. Unless you have a large team under you (which can come with other difficulties), it’s hard to keep growing without being fully present. And this can mean having less cash flow to pay yourself. It happens to biz owners more often than you think!
Loneliness
It can feel really lonely when you don’t go into an office & get to see coworkers each day. This is honestly the single biggest thing I miss about my corporate days. I’m an extrovert and had some of the best coworkers out there. If you’re an extrovert, I think you’ll see this as a con, too. I try to schedule 2-3 lunches per month with referral partners, potential clients etc to get me out of my home office at least a few times.
Lack of Balance
This is a huge focus for me now because I had NO balance – zero, zilch, nada – for the first 2 years of my business. I was a brand new mom (and soon pregnant with our second) and I was BURNT OUT. If you’re not careful, boundaries get blurred and burn out can set in even faster than with that 9 to 5.
This is especially tough when you work from home. The benefit of working from home that allows you to move the laundry or get dinner started can also cause you to feel like you’re constantly “on” and never get a break.
Investment
Depending on what type of business you want to get into (or are into), there can be a large investment up front. I’m speaking more in terms of money here, but it could also be time – which we are all short on as moms.
Summary
In my opinion, the pros will outweigh the cons every day of the week. I truly love the flexibility that it provides for me with our family. These are years that I will never get back and I will never forget!
I have chosen to have slower growth these last few years, but I have still been able to grow my business all while growing my family. How amazing is that?!?
