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Survival of a mompreneur

        I just read a great blog post on WorkingMother.com by a mompreneur who survived her first year in business. I found it inspiring.   

       As Toyi Ward (MaxiMom) points out, hitting this 1-year milestone can be challenging. Statistics show a failure rate of new businesses in the first year range from the sensationalized 90% to a more reasonable 26%.  

       Ward says, "The pressure to give up my flexible schedule and autonomy for the 80-hour work week was knocking at my door. But like all entrepreneurs, the love of what I do drives my tenacity."

       So, as someone who just formed her own LLC, I wondered if Ward made enough money to support herself.

     She writes, "I can’t forecast my cash flow out 6-months.  I can pay my bills monthly and on time. With all the economic doom and gloom around us, it's easy to fall back into the safety net of regular paychecks and paid vacation. So, I surround myself with other women business owners who are struggling with family and work demands and meeting the challenge."

      If you've survived your first year in business as an entrepreneur, please share the key to your survival!

Comments

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Sharon Textor-Black

My husband and I moved from NJ to Florida at the end of 2000. We were up and running with our own business in early 2001. Even though it was growing, it cost a lot more than planned to start-up... extremely stressful. A few years later, I felt comfortable as it seemed people were throwing money at us to place orders. What a shock this recent economy has been to us, though. My advice to help others: plan on start-up $ being double what you think you need, save more than you think you should when business is good, and remain hopeful as you also plan realistically. Having role models helps a great deal. I even wrote a book about mine that can help others. Just watching the book website videos may give you a quick lift when needed. The book is called "Elsa's Own Blue Zone", website elsasownbluezone.com. If not Elsa, keep searching. It's that important.

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