Courtesy navigation

Blog posts tagged mums in business

Mumpreneurs and money

June 16, 2010 by Antonia Chitty

Most mums with businesses are serious and committed, but don’t always find it easy to turn this commitment into big bucks.

Many women need to change the way they think about money and how they feel asking for money. Research has shown that women are less comfortable to ‘name their price’ than men, and women in ‘helping’ professions are less comfortable than, say, women working in IT. Say how much you want for your service out loud: are you comfortable saying this or do you feel a bit apologetic? I know I do.

When I run courses the majority of women attendees are in business to HELP in some way. You can only be truly effective as a helper if your business is strong and making a profit will allow your business to grow and help more people.

If you are in the position of running a business that doesn’t make enough profit you could:

  • Pay close attention to where the money comes from. Which clients/product lines bring in most profit? What can you do to maximise these?
  • Look at your outgoings. Could you source more cheaply, alter suppliers to ones with bigger discounts or buy in bulk?
  • Work out which jobs you should outsource to allow you to work more effectively. Pick tasks that you struggle with which someone else could do more efficiently.
  • Ask clients and customers about the value your business offers. Collect their feedback and spontaneous thanks to help build your confidence in what you offer.
  • Work out what motivates you to earn through the business. Is it the feeling of independence, the need to put food on the table or the ability to pay for treats? Remember this when it is time to chase for payments.

Follow these tips, stay in control of your finances and you will see your business grow.

Antonia Chitty of Family Friendly Working

startupdonutbannerbutton728x90

Bookmark and Share

Necessity is the mother of invention

November 17, 2009 by Alison Knocker

I lost count of the number of times my parents told me this rather irritating expression when I was small. However, recently I have met two women entrepreneurs who demonstrate just how true this old saying is. Both have used their skills in and love of cooking to create successful businesses.

Escaping from an unhappy marriage, Lely arrived here from the Far East with a tiny baby. How was she to earn a living? For the initial few years, she set up a stall in a market, baby in tow, selling culinary products from her native Thailand. Gradually the business flourished. She rented a small shop, and started producing Thai food. The combination of her excellent cuisine and her warm personality, no doubt seasoned with a hefty dose of determination, ensured a steady growth in clientele. First one restaurant, then another opened, and now Lely has a thriving chain, despite the recession, serving excellent oriental dishes.

Redundancy of her husband, who had been the main breadwinner, was the reason for Sue’s business start-up. She had been a nursery school teacher, but realising that the family needed more money than this would produce, she decided to combine her love of cooking with her teaching skills. Sue transformed her garage at home into a large kitchen, where she could accommodate a small class of students. Cleverly she marketed herself not to the bored housewife wanting to know the finer points of an asparagus souffle, but to those who might not have any cooking nous, or indeed any domestic skills at all. She now has a steady stream of students, such as kids leaving school or uni, or kitchen-incompetent guys, and provides practical, useful guidance at all levels. She also makes it fun. Now there’s a challenge!

startupdonutbannerbutton728x90

Bookmark and Share
Syndicate content