Being a working mum is never easy. As a Mumpreneur you need to run an entire business and raise your children at the same time.
No matter how challenging it might be, being a Mumpreneur can certainly be rewarding.
Imagine your business as if it is your child. If you nurture and focus on meeting your child’s needs, both emotionally and physically, he/she will be a happily growing child.
The same applies to your business.
When you have it all fixed, planned and monitored everything goes like clockwork and you experience business growth, even in baby steps at first.
Research and studies have shown that when Mumpreneurs experience business progress and increase their income, their family life changes for the better.
Mumpreneurs appear to be less stressed when they know their business is thriving, which in turns affects the quality of their family life.
Follow this easy 3-step suggestion, and open the doors to your business’ progress.
After all, what can compare to being a happy and self-assured, successful Mumpreneur?
How to monitor your business progress: In 3 Easy Steps
Mumpreneurs usually struggle to balance family and business. On one side of the coin, it’s their dream to have a business that will save them from all the negatives of working for someone else.
On the other hand, maternal obligations hold them back from giving their full potential to their own business.
However, if Mumpreneurs keep track of their business, many benefits can arise for both their business and family alike.
Step #1: Start by tracking how far you have come already
When setting goals, it is extremely motivating to know your accomplishments to date. Past successes and achievements are great motivators.
That way, you can not only plan your future goals more effectively, but have a better idea of the steps you need to take to achieve those goals.
You can start tracking your weekly business’ growth and evaluate your achievements, alternatively, you can conduct a monthly checkup if this suits better.
Also, creating milestones to track progress and time can keep you aware of how close you are to reaching the goal(s) you have set, or how much further you need to go to reach them.
Step #2: Know your Numbers and Create a Forecast
Many Mumpreneurs make inaccurate assumptions and their forecasts are often unrealistic, which creates frustration when they realise they are off track.
It is important to know your numbers on a daily basis. If necessary get help with this.
Next, your business’ success relies on creating a sales and budget forecast at the beginning of each week, month, quarter and even year and comparing the results from the end of the week, month, quarter and year respectively.
That way, you can check your business growth more effectively. It also makes it easier to plan ahead for the next year too.
Step #3: Perfect your Business Plan
Of course, we take for granted that you have already a business plan to hand.
Business plans are powerful tools for any entrepreneur and allows them to have view of everything, from operations and financial plan to future goals.
In other words, your business plan is the baseline for tracking your business’ growth. For that reason, a Mumpreneur, like any other business person, needs to look for business plan improvements.
For this reason a business plan should be a living document that grows as your business grows.
Incorporate your acquired experiences that you bring with you – even if you are a start-up – and take action on the goals in your business plan that have not been met in a set time frame.
Assign a start and completion date to these items and like your other business goals track their progress too.
Results will definitely amaze you!
Have you got a system in place to track your business progress?
What has worked really well for you and what have you stopped tracking and why?
Written by Mairead Kelly