Almost 11 million US businesses are currently owned by women; according to the Census Bureau, that’s 48 percent of all US businesses. It is predicted that by 2025, that number will rise to 55 percent.
It’s not just the Census Bureau making this type of grand prophecy; The Guardian Life Small Business Research Institute also forecasts that by 2018, women as entrepreneurs will be primarily responsible for creating approximately 5.5 million new jobs across the US.
As such, there is an increasingly greater chance that tomorrow’s jobs will come from these women who are emerging as employers in the new marketplace.
Whether the reasons these new female bosses started businesses was that they were unhappy with their paychecks compared to the other gender, or were dissatisfied with the job in the first place, or perhaps decided to have children, there are a slew of reasons they might decide leave their job and start a business themselves. When it comes to having children, understandably many women undergo a restructuring of their priorities once a child is in the picture.
“Women today understand the pressures of careers and the dedication their careers need,” explains Kathryn Bechthold, a successful entrepreneur, in her book The Entrepreneurial Mom’s Guide to Running Your Own Business. “It becomes clear very quickly that if they are going to work that hard and be separated from their families for that many hours per day, they might as well start to consider doing it on their own terms and for themselves.”
Despite the seemingly obvious title of Bechthold’s book, The Entrepreneurial Mom’s Guide to Running Your Own Business is in fact not just for moms – anyone looking to start their own business can learn from the book which guides the readers with the wisdom of the author and numerous interviewees whose insights are accumulated through life experience.
Whether an entrepreneur is male or female, having an extra member in the family means that some extra cash would likely be welcome. Amidst the excitement of venturing into the entrepreneurial domains, Bechthold warns to be careful not to lose sight of your initial goal; remember that you are doing this to have a better balance of work and family time, so don’t waste your efforts by turning into a workaholic for your new business.
In other words, draw boundaries, and decide what you want early on. “Whether it is bringing in enough money to be the primary caregiver or if it is to surpass one million dollars in revenue next year, know your definition of success now,” stresses Bechthold. “Have it clearly laid out, and focus on achieving it.”
Entrepreneurs following this sage advice can help ensure their life is balanced the way they want.
The book is available in our Web store.
Click image to enlarge