5 Financial lessons from enterprising and successful mothers

5 Financial lessons from enterprising and successful mothers

keys-to-success Life-lesson

When we think of success, we often relate it to the economic one; However, you will be surprised to know that for many entrepreneurial mothers, the greatest success lies in balancing their business life with the role of mother, even more as a single mother.

We share 5 financial lessons that these happy moms leave us. 

1. Your children are your greatest economic engine. 

For many mothers it may be difficult to start a business and combine it with the upbringing and financial support of the children; For others, the children became the inspiration for the great business idea. Such is the case of American actress Jessica Alba, who after becoming a mother, she realized the importance of using products of none - toxic origin for babies, and thus founded  The Honest Company, company home products back not Toxic and promotes ethical consumption. The company was established in 2011 and was valued at 1.7 billion dollars in August 2015. 

2. It helps other entrepreneurs without expecting money in return. 

This should not be confused with giving away your work, but with empowering and empowering other women who may need more of you. Daisy Garcia, entrepreneur and founder of the advertising agency, boutique Daibrand.com in Chicago, United States, believes that competition is not always bad. And if you know how to channel your good will, your competitors become a support rather than a threat; The monetary reward will be greater for all if you manage to work as a team. 

3. Do not count the time for yourself, give it to yourself. 

The pretext of many women to neglect is the time that the children demand; However, the image significantly affects the mental and emotional health of a woman. Arranging yourself every day as if you only existed can give you a state of peace and tranquility that is reflected in the prosperity and success of your business. 

4. Know the economic value of your work. 

Giving your work to help other people is not the idea of business; Nor to charge a price that is in the clouds. The important thing is to look for balance, and give the fair value to what you do. Slaughtering your work discourage you in the business and generate economic losses. And give the fair value to what you do. Slaughtering your work demotivate you in the firm and make financial losses. And give the fair value to what you do. Killing your job discourage you in the business and generate economic losses.

5. In your budget, finances for your children are a priority. 

Some women have not been able to separate the capital invested in the business, with the one that is destined for the children. Wanting to start or accelerate a business without having first ensured the core needs of the children (education, housing, clothing, and food) can generate a remarkable imbalance. Be sure to prioritize your personal and family well-being, because, in the end, the success of the business will be for and for them.

Fail Fast, Succeed Faster: Five Key to Achieve Success

Fail Fast, Succeed Faster: Five Key to Achieve Success

How-to-be-successful keys-to-success

The biggest fear of most entrepreneurs is to fail. Learn to face your mistakes and share your experiences. You'll be successful as soon as you learn from it.

"Fail fast" is a widely used saying. Entrepreneurs don't wake up and wonder "how can I fail today?" What is important is not to accept it, but to figure out how to handle it.

As an educator at the Launch Academy, one of the hardest things I've had to deal with is with students struggling against failures.

Our program attracts and admits the extremely competent who, as entrepreneurs, are very hard to themselves. What is unexpected about our program and the tasks of the entrepreneurs is that failure is what is expected. How we face, it is what defines us. I share the recipe to do it:

Try. 

Theodore Roosevelt, one of the toughest and most interesting executives in our history, tells us that "it's hard to fail, but it's worse to never have tried."

Akhil Nigam, the founder of MassChallenge, said during a panel in National Small Business Week that "as a new entrepreneur you must make your business start to exist." If you do not act out of fear of failure, how will you create something meaningful?

Own your failure. 

As you make your creation come to light, you will stumble along the way, and those who follow you will also have difficulties. Accept your part in the failure. If you make excuses for yourself or blame others, nothing good can come out of a situation that is already worrying.

Excuse me. 

For many of us, this is the hard part. For me, it helps to realize that failure is part of the human experience and that you can grow thanks to it. It also contributes to having others to relate to.

Dani Dewitt, a Launch Academy student, says "I think being around a group of people who are also going through the same kind of things has made me realize that I need to keep seeing everything from different angles until I can solve the problem."

Apologize. 

As part of accepting your mistake, be authentic with those you've done wrong. There is nothing more exasperating to your customers than the phrase "we apologize for the inconvenience."

As for example, if your email service went down, it would be better to listen "We know that email is critical in your business and we feel appalling about the inconvenience. We will update it as soon as we resolve the issue to make it work again." He always accepts the problem and the importance of solving it.

It carries out a transparent retrospective. Commonly in the corporate world, this would be called post-mortem. This term should be avoided unless you are in a health business, as it is unlikely that someone will die as a result of your failure.

In software development, we use the term retrospective when we refer to a board where we remember what went well and what went wrong in managing failure. Involve stakeholders in the process and be transparent in sharing what you have learned with your employees and clients.

Teach the others. 

We have a saying in my work: "Teaching is the same as learning." As entrepreneurs, our business moves very fast to think about failure. It uses this framework as a means to learn and progress after having benefited from the experience. Don't get confused, failure is not mortal.