Momtrepreneur Series: Mom Boss?
If you did not notice, CPR dedicated the past few blogs to salute momtrepreneurs with as much as 40% off CPR LLC services. If you have not taken advantage of this opportunity, please email us today. The blogs within the past few days illustrated the similarities between mom-in-charge and momtrepreneurs. Many of the skills used to manage your home apply to managing your businesses effectively. Which of the fifteen attributes described will assist you in your pursuit as a momtrepreneur? Or for the current momtrepreneurs, which of the fifteen attributes do you apply most frequently? Please feel free to leave your responses in the comment section. The final five attributes of a mom and entrepreneur will be explored today. The attributes include:
consistent but flexible
ability to follow up
1. Consistent but flexible
A business similar to a child has its growth stages. Throughout the growth stages of a business, from birth to infancy, adolescence, young adult, and maturity, your business requires the right amount of attention. Being consistent yet flexible combines the quality of dependence and independence, providing the current growth stage. Juggling both attributes can be troublesome for some people; however, this seems to be the nature of the job for moms. Consistent business owners with the most flexibility seem to push forward in the world of entrepreneurship.
2. Follow up
Following up with customers and clients can be one of the most critical business actions a business owner can take. As a mom, you know the importance of following up on doctor's appointments, schoolwork, class projects, dietary needs, or school activities. A business requires that same level of energy. According to statistics identified by the Hubpot group, follow-up is a required element in business. Here is why:
80% of sales require fivefive5 follow-up phone calls after the meeting. [Source: The Marketing Donut]
Research shows that 35-50% of sales go to the vendor that responds first. [Source:InsideSales.com]
If you follow up with web leads within 5 minutes, you’re nine times more likely to convert them. [Source: InsideSales.com]
63% of people requesting information on your company today will not purchase for at least three months – and 20% will take more than 12 months to buy. [Source: Marketing Donut]
50% of leads are qualified but not yet ready to buy. [Source: Gleanster Research]
93% of converted leads are contacted by the 6th call attempt [Source: Velocify]
3. Resolve conflicts
Effectively dealing with conflict is essential for every organization, including small businesses. As moms, you become the coach and mediator during times of conflict to establish a perceived win-win. In business, it's no different. A leader must identify ways to establish a perceived win-win. If there is a clear case of in the wrong, you must be able to de-escalate the situation. De-escalating anxious, hostile, or challenging behavior calls for a level of emotional maturity and a sense of self-awareness. How you control the situation depends on how you, as a leader, control yourself. Moms typically can de-escalate a situation and make peace, even involving someone else's child. Some tips recommended by CPI with a few additions from CPR include:
Empathize with the parties involved but express your disappointment pending the gravity of the situation.
Manage your response
Don't blame but encourage each party to take accountability for their response to the situation
Encourage a one-on-one to handle challenging questions
Prevent a physical confrontation by all means necessary
Follow up with each individual regardless of who started the conflict
For small businesses, Networking takes front and center. Whether an introvert or an extrovert, a business leader must be proactive when networking. Do not assume someone will make the first move. Moms network by making inquiries about the best schools, programs, financial aid, and whatever is required. Moms network with ease to secure their needs and the needs of their families. CPR offers some networking tips on the business front:
Readiness of your physical business cards at all times. Not everyone is up to date with e-business cards.
handout at least five business cards per day regardless of where your meetings take you
have a 15-second pitch but be ready to customize your pitch
be sure to work on your win-win for the potential client
keep in mind that a potential client can be converted to paid client
participate as an expert subject matter content by collaborating with another entrepreneur, sponsor your podcast, and interview other experts
establish a local networking group where each small business does SB-2-SB (small business to small business transaction-keep it in the family)
Humility is not the lack of self-confidence; instead, it is the epitome of self-confidence. Humility can be honed and developed over time; it solely requires the will to be humble. Humility requires patience, the ability to say I am wrong and apologize, and open yourself to learning something new. Humility also nurtures creativity, accountability, and satisfaction in the workplace. Frequently, in a two-family home, the mom's role may be perceived as secondary as opposed to supplementary. There is a big difference—support matters. The humility with which moms serve their children and their homes can be mastered in the workplace.
This concludes the twenty attributes of moms' skill sets that can be transferred to managing a successful business. Be sure to add to this list or advise, which of the attributes contributed to your success.
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