| Focus on the Best Women-Owned Companies - Mom Inc. | |
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| More working women are forgoing employee status to start their own businesses. Could you be next? |
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By: Carlye Adler, Photo: Joe Fornabaio
For Los Angeles mom Deborah Wolsh, the prospect of working in Canada for three months, separated from her kids, convinced her finally to leave her corporate job and open Ethel, a clothing store. For Michelle Dawes, it was her boss's negative comments each time she needed to leave work when her son was sick that gave her the gumption to resign and start Moxie TM, a New York- and Miami-based brand development and design firm. And for Erin Patterson, frustration over what her pediatrician wasn't telling her about feeding her baby inspired her to launch Small Bites, a Brooklyn, NY, consultancy that helps parents to establish healthy eating habits for their kids.
Whether hunting for more flexibility, seeking greater control over their work or needing to fulfill a passion, moms across the country are striking out on their own in growing numbers, experts say. "I never had real excitement for a job before," says Erin, whose nutrition consultancy, founded in 2005, has 650 subscribers to its monthly newsletter. "For the first time, I've found that I have something to say to the world."
The number of women-owned businesses has almost doubled in the past decade. Today, 10.4 million women-owned businesses operate in the United States, generating an awe-inspiring $1.9 trillion in sales, according to the Center for Women's Business Research in Washington, DC. Exactly how many of these women are also moms isn't known, but experts say mompreneurs are a robust force. "Half of the women in our network are moms," says Victoria Colligan, cofounder of Ladies Who Launch, a New York City-based organization that helps women start and expand their businesses. "This is a huge trend."
Despite the entrepreneurial success of many moms, launching a business that will last is certainly not a cakewalk. While nearly two out of three new companies survive for two years, fewer than half are still around in four years, according to the U.S. Small Business Administration. And not everyone who fantasizes about freedom from corporate ties is cut out to be an entrepreneur (see our quiz). Experts agree, however, that building a thriving business requires two nonnegotiable factors: an incredible amount of hard work and an intense level of passion.
Working harder, longer "You have to be a force to drive your business forward," says Maureen Kelly, who six years ago founded tarte, a luxury cosmetics line that rang up $15 million in sales in 2006.
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| ahenry262 |
2009-03-13 |
This was a very inspiring, thought-provoking article. I could really identify with the momtreneurs' reasons for going it on their own. Balancing work and family, especially with unforseen situations like kids getting sick, can be very stressful. Even the fun things like attending field trips can tug at your heart ... |
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