Research suggests that major life events like getting married or having a baby can positively develop your entrepreneurial skills. The study showed that starting a family caused new parents to be more passionate, alert to new opportunities, and more creative—all positive traits for entrepreneurs. “Parentpreneurs,” with their unique set of skills, may have an advantage when launching a new venture, offering a hopeful perspective for those balancing parenthood and entrepreneurship.
Parents learn how to work smarter, not harder
Savvy entrepreneurs understand that there are only so many hours in the day. While starting a new venture takes a lot of hard work, pushing yourself to burn out isn’t the recipe for business success.
The same is true for parenthood. Kids, especially babies, are on their own schedule. There’s only so much energy a parent has during the day; kids force their parents to be flexible. “Instead of trying to get more things done in less time, I accepted that I would work fewer hours and accomplish fewer things, not try to do more in less time,” wrote one father. “I didn’t fight the loss of my productivity; I planned around it.”
Parenthood forces you to work productively, too. Juggling the tasks of raising a child requires strong time management skills. As a result, when it comes time to focus on your business idea, you’re more motivated and able to get your work done efficiently.
Parents understand how to lead effectively
Parents must be authority figures to their children. Your children look to you to be a strong role model, and raising a child requires a combination of rules, encouragement, and empathy. This leadership experience translates well in an entrepreneurial environment, where leaders must juggle the demands of different groups of stakeholders. The best leaders understand the levers to pull to get the best results from their employees, connect with customers, and recruit investors and lenders.
[Read more: 6 Essential Personality Traits of Successful Entrepreneurs]
[I’ve] learned in both business and motherhood that I must keep on moving and pivoting until I find what works.
Leslie Lee, StartupNation
Parents develop a uniquely entrepreneurial skill set
Many entrepreneurial skills can’t be taught, but they can be learned — especially when raising a family.
“I think moms are master negotiators and the best salespeople. If you can sell a toddler on why vegetables are good for you, you can sell or negotiate just about anything,” wrote Leslie Lee. “Multitasking, sales and negotiation are all skills that are essential in being a successful entrepreneur.”
Experts caution that parents may run the risk of overestimating their entrepreneurial skills. “A positive family event, like the birth of a child, often has an emotional spin-on effect for an entrepreneur and could lead to greater confidence. This ego boost could result in an entrepreneur being overconfident and making poor business decisions,” wrote study author Pi-Shen Seet, Professor of Entrepreneurship and Innovation at Edith Cowan University.
Parents are comfortable dealing with uncertainty
Parents know that growth is never linear and that every day is different when raising children. From early on, parents learn how to get comfortable with uncertainty and understand that failure holds valuable insights. These are key lessons for entrepreneurs, too.
“[I’ve] learned in both business and motherhood that I must keep on moving and pivoting until I find what works. When something doesn’t work, I’ll try my next best option, and choosing that next best option will do one of two things: it will give me the clarity to move forward or the confirmation to close the door, and I will try again,” said Lee.
As the nursery rhyme goes, “If at first you don’t succeed, try, try again.” Parents teach this to their children from an early age, and it’s a good reminder for business owners, too.
[Read more: 5 Small Businesses Owned by Fathers and Their Kids]
Parents have the discipline to stick with it
“Being an entrepreneur isn't much different from being a parent. They're both about creating, nourishing and protecting your baby, even though it can be stressful, demand a huge amount of attention and resources, and keep you up late at night,” wrote Thomas Mai, CEO of Diapers2Go.
Lee also notes that despite the many obstacles of parenthood, giving up isn’t an option. It takes hard work and dedication to be a good parent, and that discipline sets a strong precedent for other areas of life, such as starting a new business. Parents are uniquely equipped to pursue a new venture with tenacity, flexibility, and creativity — as long as they don’t get overconfident in the process.
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