Worst Business Practices to Avoid for Aspiring “Mum-preneurs”

Many working and stay-at-home mums are dreaming of managing a business of their own because of the following reasons – financial stability and flexibility, indulge in their passion, and have a better lifestyle. A busy mother cum business owner can be tough and challenging because one has to multitask and juggle household chores, family needs, and business practices at the same time. At the end of the day, these so-called “mum-preneurs” have to understand two things when starting their own business – knowing what to do and doing it right. Before anything else, make sure you check out the businesses for sale and franchise opportunities that suits your needs and business expertise. Mums may have to consider using a vertical search engine to get the updated listings of possible business ventures in Australia.

No matter how busy life can be, mumpreneurs with good business acumen can manage to operate their own business ventures while not taking their personal and family lives for granted. Once every aspect of the business has been properly organised then the work can be rewarding and fun at the same time. The success and failure of an online store or small business start-up depends upon the way mumpreneurs implement their business plans. Of course, mothers who manage their business should know about the common business mistakes that they should avoid.

1. Bad time management
We all know that mothers have a busy schedule from cleaning the home to taking care of the kids. Taking care of business can be an added burden if you don’t follow good time management. When it comes to business, best practices counts because creating a harmony in business and lifestyle is crucial to your success. Take time to plan and prioritise important business tasks in order to achieve your personal and business objectives. Have short and long-term plans so that you will know what to accomplish.

2. Insufficient business capital
Though mumpreneurs can provide additional income to their family, there are bad business practices that can have serious consequences on your small start-up. Learn to manage your finances because you don’t want to spend most of your hard-earned money on advertising and marketing before you recoup all your expenses. If you have limited business funding, learn to be creative and follow low-cost marketing strategies that maximise your business potential. Access to good business funding is important in order to cover up the costs of setting up your business in the first place.

3. Ineffective marketing strategy
Mums can get excited to jumpstart their business right away to the point overextending precious resources and finances. Setting marketing plan on an aggressive rate for the first few months of business can exhaust your chances of profiting from it. Take your time and do the necessary research on every aspect that can affect your business. Don’t get your judgment clouded on the excitement of achieving short- and long-term success. Moderation should be the centrepiece for Australia business practices.

4. Doing it all by yourself
Even though mothers are tough cookies and can do so many things by themselves, doing business on their own is a whole different ball game. Working too much can be counterproductive because you end up getting tired and fed up by your own business. Learn to accept advices from those who know the business very well and get a good support from your family, friends, and colleagues. Consider the Asian business practices perfected by large and multinational Japanese and Korean corporations like Mitsubishi and Samsung.

5. Not rewarding yourself
Burnout is the worst nightmare for business-minded mums because no matter how hard they work to achieve business success. It is important to reward yourself from time to time. We can always get lost from the intricacies and challenges of business so take time to rest, stay fresh, get motivated, and gain confidence. Successful business practices can be achieved if you are productive in your life and business.

6. Mixing domestic household chores with business
Juggling is a remarkable trait that business-owner mums should have but mixing household work with business can be one of the many bad business practices that can put your online store and business start-ups in trouble. If you can handle sales calls and play with your children at the same time can be done easily, think again.

7. Without a decent office environment
It is a fact that you can run your business at home and don’t even need to operate an office but if you are a busy mum then it is important to have a proper place to do all the things affecting your business. Set up a separate business environment away from your children because you need to be professional when you’re dealing with customers and clients. You don’t want them to be interrupted by children crying and horseplaying. Among the unethical business practices, being unprofessional is a mortal sin.

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