Empowering Moms Through Small Business

I encountered my first microlender program at work when I was passing through a village in the Andes Mountains while spending a semester abroad in Chile.

These woman sold beautiful black clay pottery unique to the region (I’d attach pictures….but my two little monkeys have managed to break my entire collection! I’m trying to put a positive spin on the situation and say it’s a good excuse to return back).

Anyhow, these women were different than other merchants I had encountered during my travels. They knew the value of their work and did not haggle with Westerners. They kept careful accounting records of their sales and inventory. They were true businesswomen.

That very day I threw away my law school applications and started searching for an MBA program with a strong non-profit emphasis.

More than any other tool to break the “cycle of poverty”, a successful small business can empower women throughout the world to be financially independent, be confident and to likewise raise independent, confident and educated children.

With a little cash and a lot of hard work, SAHMs (or anyone for that matter) can reap some of these benefits as well. Oprah magazine recently featured stories of women in business, including a mom who started a mail-order cookie business in order to finance her kid’s college educations. Some of us in the Tales crew have also built successful small businesses while juggling young children and other responsibilities.

If you are a potential momtrepreneur (thanks for that word, Chloe!) here is a mini-guide on how to get started:

1. Find an idea. It doesn’t have to be a new idea….but it does need to have a market (people willing to purchase the good or service).

2. Write a business plan. Keep it simple, but make sure that key questions can be answered.

3. Obtain proper licensure for your business. This process varies by state. Most state government websites have a “Department of Licensures” or something similar that should explain what your state requires to set up shop.

4. Need financing? Check out Count-Me-In, a by-women, for-women microlender that also offers free consulting and online business education classes. (They’re great - I’ve worked with them on projects).

Other financing options might include a small business loan through the SBA, a traditional bank loan, or an angel investor who will GIVE you money for a portion of ownership in the business. Or you can always hit up your rich Uncle Fred for an early inheritance.

5. Get Started!!!!

Good luck and have fun! And if you have any great business ideas, feel free to send them my way….I’d love to EMPOWER myself a little!$!$!$!$!$!$!$!$!$!$!$!$!$!$!$