3 Steps to Making Good Business Decisions and Being a Good Mom
You're doing all of the right things for your business.You track your business expenses and income. At least you should be.You monitor which activities are bringing you the most return in new readers, leads, and customers.You identify your ideal customers and how you work best with them.All of these tangible pieces of information help you, the entrepreneur, make decisions about your business.But if you're a mom entrepreneur, there's another element to your bottom line. A bottom line that also includes your family, and the time and energy required to keep them growing and thriving.Let's call it "the mom entrepreneur's bottom line". As if the entrepreneur's journey didn't have enough twists, turns and challenges, you have other decisions to make, other criteria to weigh, much more than just the expected line items on your profit and loss statements.This bottom line is about more than your revenue, following your bliss, and leveraging your talents.It's about making decisions based on your family, the reality of expenses, not putting your family in the poor house, and making sure you don't neglect yourself, too.Tell me if this sounds familiar:
- You book a client call - and then have to cancel it to pick up your sick child.
- You're about to start a webinar during the launch of a program, and your spouse calls you to ask if you can pick up your child who's sick again.
- You're thinking about starting a new project, maybe starting a business, going to a business conference, and the question "can we afford it?" comes up. Though you'd be using business funds, it's still a discussion for the whole family.
Now, I know these things are often labeled excuses and "if you really want it, you'll make it happen" comes up, but any mom in business knows what I'm talking about. Excuses or not, they are real concerns in your life and they affect your business.So how do you make decisions for your business that won't negatively impact your family?
4 Steps to Making Good Business Decisions and Being a Good Mom
1. Define your number ones.
Yes, it can really be that simple. Your "number ones" are the most important things in your life, your top priorities.Your list might include:
- Yourself
- Your children
- Your husband or partner
- Your home
- Your business
Each of your number ones is important for different reasons.
2. Assess the impact
Next, look at whatever decision you're making, and ask yourself:How many number ones does it affect?
- If the decision affects two or more negatively, think again and decide what would need to happen to make it positive.
- If the decision affects three or more negatively, it's a no. Go back to the drawing board.
- If the decision affects two or more positively, the answer is yes, but proceed with caution.
- If the decision will affect three or more positively, the answer is to shout YES! from the rooftops and drop every other activity to do it. PRONTO.
- If the decision will make you and your business happy - you must move forward with it - but do it with a plan in place.
3. Communicate the decision
One of the biggest mistakes I see mom entrepreneur's make is when they make decisions, but keep them a secret. Don't do that.You've made your decision, so now, make sure that your family knows about it. Share your excitement with them, fill them in on all the details, and prepare them for any possible outcomes. Sit down and make a plan (maybe even a plan A, and a plan B) together so everyone can help, and everyone feels like they're part of it.
Follow these three steps, and you'll be on your way to making good business decisions and being a good mom!
How do you make business decisions as a mom entrepreneur? Share with us below!