Corporate Moms Considering Entrepreneurship
By Karen Steede Terry
Today, moms are seeking ways of maintaining a career and having more time with their children. Many would like to pursue their own business, but struggle with a lot of questions, such as "What can I do on my own? Or "Will I make enough money?" As a working career mom herself, Karen Steede, author of Full-Time Woman, Part-Time Career, gives her insights of becoming an entrepreneur.
Are you a working mom who would like to work part-time, and spend more time with your kids, but don't know how to leave your current position or company? Have you thought about going out on your own, but don't want to go the party-planning route selling products, and don't know what you would do otherwise?
Women who have kids work full time and stay in corporate jobs for a variety of reasons, including a big salary, investment of their time and money in their career and/or higher education, and some just need to work, mentally and financially. Another reason is "fear of making the leap." It is easy to sit back in a comfy secure job, and dream about going out on your own, but the act of actually leaving and doing it is another matter entirely.
In this article I will briefly address many of the questions that plague women who want to go out on their own, but don't know how to make the leap or how to market themselves if they do. Besides wondering what they will do (as in what kind of business they will start) once they leave their current position, women wonder:
- What if I don't make enough money immediately?
- Where will I get clients?
- How much work is it?
What can I do out on my own?
Starting out, perform an individual needs assessment by asking yourself, "What kind of skills do I have?" Professional women (accountants, attorneys, technical writers, computer or software specialists, marketing professionals, project managers, etc.) can go into business immediately as consultants in their field. Women in a technical field (computer programming or training, software engineering, or telecommunications) have an advantage when going out on their own.
Why? Because they can obtain technical certifications which increase both marketability and credibility. Certifications (also called "designations") are offered through various industries, organizations, software companies, or other high-tech manufacturers. Certifications can be used for teaching or consulting, and there is demand for individuals who can provide those services.
A Microsoft Certified Trainer (MCT) is an example of someone who is qualified and authorized by Microsoft to teach their software. Certifications offer you instant credibility to potential clients, because they are widely recognized and accepted. Companies tend to hire certified professionals as contractors because they know they are qualified to do the work.
What if I don't make enough money immediately?
One prepatory step that can be done prior to leaving that steady paycheck behind is to save money. Most women who start their own businesses have at least one or two years worth of living expenses in the bank. Be prepared to go several months - at least - without any income.
Where will I get clients?
Many women start out by immediately contracting back to their current employers. This provides you with some income while you are out hunting other clients. Your employer already knows you, and knows your capabilities, so your chances of them hiring you as a part-time contractor are excellent.
Another tip is to network by attending trade shows, conferences, association meetings, and networking events. Rather than sponsoring a conference as a vendor, register as an attendee and submit a paper. This not only positions you as an expert, but guarantees you a roomful of people who are potential prospects!
How much work is it?
Is going out on your own the same thing as starting your own business? Yes! And it's just as hard to do. In fact, you will not be working part time at first.
When you are self-employed, there is always something you can be doing to market and sell your services. There is no "down time." Unfortunately most people don't understand this basic premise, which is one reason they fail.
The trick is to build up your business first, to get it to the point where you can go part time. After getting through the hard part (start up phase) of a business, you can "pick and choose" the jobs you would like to work on. After nearly 10 years in business I am now in that very fortunate position, but I was not when I first started out. As the mother of a 16-month-old, I am very grateful for the flexibility that I have today.
Life is full of transitions. When you have children, you make an identity change as you go from being however you previously defined yourself to being your child's mom. If it is important to you to have enough time to be involved in your child's life, then it is worthwhile to explore these part-time options and make another identity change - this time, in a professional capacity.
Karen Steede Terry is the author of "Full-Time Woman, Part-Time Career." She has been self-employed in a high-tech field as an independent consultant and software instructor since 1996. Karen wrestled for many years with how to resolve the "traditional" role of women as wives and mothers versus having a career. The result is her second book, "Full-Time Woman, Part-Time Career" - the professional woman's guide to building a flexible business. www.fulltimewoman.com