As a Mum and Wife, you’re already being pulled in multiple directions. From organizing everyone’s meals at the start of the day, to drop offs, pickups and the numerous house chores, the list can seem never-ending.
But, you have a dream. A big dream. One that will change the world. How do you convince those around you that your dream can become a reality? You have to really work that magic and get it off the ground. That’s the hard part that no one really tells you about.
I come from a family full of Entrepreneurs and owning my own business is something I have subconsciously been aspiring to all my life. However, underneath this desire was the (pretty misguided) belief that everyone who owned their business was set for life. The day without a boss… Awesome! Yes? Hmmm… debatable.
Underneath all those layers of success, amazing stage presence and calm facade is stress. Stress in all shapes and sizes. Money is at the centre of this stress for a number of reasons:
- You need to feel financially stable before you break away from your day job
- You need money to be able to support the business
- You need to more than break-even to also support yourself
- If you can only support yourself, then how will you pay the staff?
- Without staff, how will you scale?
- If you can’t scale, how will you generate more profit?
It is a vicious cycle and one that is really hard to remove yourself from. I almost feel the real question we want to ask ourselves is: “Would we buy this product or service ourselves?”. Something tells me that if you personally are willing to part with your money, then there is a chance someone else will too.
Monetisation can be a struggle for many startups. If you have an app, it could take quite a long time to start charging. You would need to get a set number downloads and would probably have a freemium model. In which case, your most engaged customers are likely to be your pipeline for real paying customers. If you have a service, you’re also likely to start charging small amounts until you get a steady stream of people recognising you and repeating business.
So where does the freedom, and work-life balance come in? After all, that’s the real reason we want to get away from the day job isn’t it?
No one could have prepared me for the harsh reality that starting up is NOT easier than a corporate job. You don’t get to delegate to anyone and you don’t have more free time. I have had to juggle an active 3 year-old and a 7 month old baby whilst attempting to make my dream a reality. It all seemed so far fetched in the early days but there is nothing more satisfying than seeing your idea evolve. The MumsinTech experience has given me the opportunity to learn so much about the Tech space and how many really inspiring women are already breaking down barriers for us. It’s been the best maternity leave ever! Learning, meeting amazing Mums and Dads, Visiting cool Startups and best of all, having Ivy with me all the time.
So yes, there might not be much money, but it’s my own personal satisfaction that makes me the richest person in town. Will this idea make me rich? Maybe not. But the level of passion I feel can’t compare to a full bank account.
That is what must get entrepreneurs up in the morning, prepare them to take on any challenge you throw their way, work all hours, give up on the latest fashion and move back into their parents’ house, or sell up and downsize. It’s because they are gaining a different kind of wealth, one that is much more rewarding than cash.
The image above is a shot from our amazing “Inspiring Women in Tech” Panel, hosted by Dominnique Karetsos.
Let’s get more women excited about Tech!