SWNYSMALLBIZ by Tyler Schmall
New York office - 646-873-7565 / usnews@swns.com
NEWS COPY - WITH VIDEO & INFOGRAPHIC
Three-quarters of entrepreneurial moms say the performance of their business in 2019 will depend on revenue they earn during the holiday season, according to new research.
A study examining the extensive workloads and juggling skills of business-owning American moms found as many as 74 percent feel the survival of their business heavily relies on strong sales this holiday.
Even though they feel the high pressure of the holidays on their business, business-owning moms are equally focused on making the work/life balance a priority with their family, as well. This is according to a new survey of 500 American moms who run their own businesses, conducted by Vistaprint.
The holiday season is crucial for business-owning moms who on average earn over one fifth (21 percent) of their total annual income during this period.
That may explain why moms plan for the event a full two months in advance and will shell out $317 for holiday-themed decor, marketing, and window displays.
So, it comes as little surprise then, that 47 percent of moms say the holidays are their most stressful time of year.
When asked how they plan to make the holiday season a success, the most common answer was to work longer hours.
Entrepreneurial moms who work on their business full-time (40 hours per week) have an average workload of 54 hours per week during the holidays, with over one-fifth (21 percent) of them working over 60 hours per week.
While extra income earned from the holiday season is key for business, most of these moms are burning the midnight oil for their families. According to 55 percent of those surveyed, the biggest indicator of a successful holiday season is being able to provide for their family.
Similarly, only 17 percent of entrepreneurial moms say their business gets most of their focus during the holiday season.
Most either put family first (44 percent) or give equal attention to both (37 percent). A majority of moms (61 percent) say they handle holiday stress by carving out downtime with their loved ones.
“The holiday season is a wonderful time of year, but it can be difficult finding a balance between work responsibilities and enjoying time with family,” says Vistaprint North America Director Erin Shea. “As they play a pivotal role in driving growth for their business, entrepreneurial moms in the U.S. can face difficult trade-offs when it comes to their children and families during the holidays.”
Having a successful holiday season while making time for family requires a tough balancing act, so how do these moms achieve it?
A little planning can go a long way, it turns out, as 43 percent adapt their schedule/working hours to spend more time with family. This was followed by scheduling time to spend with family (41 percent) and involving them in running the business (22 percent).
“Entrepreneurial moms are often trying to do it all, and that is a lot of pressure to take on at such a busy time of year,” continued Shea. “We want to recognize all of the love, care and hard work that they put into making the season successful, both personally and professionally.”
7 Pieces of Advice from Business-owning Moms:
1. Create a schedule and stick to it. Make appointments to spend time with your family just as you create appointments for work.
2. Make a list. Check it twice. Create a prioritized task list for work and home. Setting achievable daily goals keeps you on task and allows you to feel accomplished.
3. Shop now, sell later. Get any holiday shopping out of the way early. Then you can focus on creating sales in your business and spending quality time with family.
4. Know your value. Time is money, especially when there never seems to be enough to go around. Don’t feel the need to discount your services during the holiday rush if it doesn’t make sense for your business.
5. Learn to say no. Realize how to say "no" to unrealistic expectations in both your personal and professional life.
6. Set aside time for selfcare. Taking care of yourself is just as important as taking of your family and tending to your business.
7. Make it a family affair. Whenever possible, involve your family in your business. It gives them a glimpse at what you do and gives you more time together.
ENDS
