Business is said to be a man’s world. There are more men than women who start a company of their own. Moreover, there are more men who advance into executive roles in an organization than women.
However, women make great entrepreneurs. Previous studies have found that, when a venture is backed by a woman, it produces 12 higher revenues even if they launch on less capital. Women-led companies have also been proven to be more resilient to financial and market crises.
Part of the reason why there are so few female company founders is the false belief that women cannot juggle the responsibilities of running a business and taking care of their children.
This was proven by COVID-19. When lockdowns happened, many parents had to maintain their jobs as well as take care of their children. About one in five working-age adults had to leave their work because the pandemic disrupted prior childcare arrangements. Women were three times more likely to stop working to take care of their children than men, according to the U.S. Census Bureau.
In reality, the experience of motherhood can make a person a better entrepreneur.
Franchising: the Right Path for Parents
Parents, especially women, do not have to sacrifice their own careers to become primary caretakers of their children. Running a business provides the flexibility that they need to balance work with childcare and home life. The regular 9-to-5 does not often give working parents the freedom to choose when to come to the office and when to leave. With a business, they are their own boss. They can dictate when they start working and when to stop.
Franchising is the perfect venture for working parents because it is relatively low risk. The franchisee has the backing of a big corporation that has millions of dollars to spend on marketing and crisis mitigation. Franchisees also have the advantage of opening a business that already has a tested and proven process.
A tech franchise is perfect for those who know how to repair smartphones and other electronic devices or sell batteries and lighting.
Prioritization
Being a mom is not an easy role. There is so much to do, especially when one is responsible for childcare and looking after the house. There are chores to do, and children to feed. In both cases, prioritization is needed to accomplish everything that needs to be done throughout the day.
The same is required in business. Less will be accomplished when a person is doing multiple things at once. Not all tasks have the same level of importance. Prioritization allows a person to focus on one task at a time to ensure quality output. It also guarantees that tasks that have the most detrimental effects are completed first to minimize the consequences that the company will face.
Working Under Pressure
Being a caretaker of a child constantly places a parent under a lot of pressure. Kids, especially babies and toddlers, have tempers. If they cannot have what they want or if they feel uncomfortable, they will cry. It is hard to focus on a task and make decisions when your child is screaming, especially in public.
There is also the pressure of being responsible for the survival and proper development of the child. Motherhood makes a woman resilient to stressors. Once a person has experienced caring for a child, everything else, including running a business, becomes easier.
Negotiation
If you have ever convinced a child to eat a vegetable, you likely have the skill to sell anything to a potential customer. Negotiation is part of parenthood and business. Children do not simply follow orders. If they did, being a mother would be a lot easier. Instead, they do the exact opposite of what they are asked to do. They can be stubborn.
Delegation
Being a mother requires a person to let go of their ego, and recognize when they need help. Too many entrepreneurs, especially at the early stages of running a business, believe that they can do everything and their decisions are always right. However, any organization can only function if everyone is working in harmony. It requires proper delegation and trust in members of the staff.
Home life provides parents the opportunity to practice delegation. If there are too many chores, ask the children to help. Assign each one a chore that they can do based on their capacities or interests.
Delegation in business works in the same way. Individual staff members should be assigned projects that are in line with their skills, expertise, and interests. This will ensure that the project will be a success.
Motherhood should not be a deterrent for women to pursue a career. While business and childcare both have high demands, parents can excel in both at the same time.
