These self-described Bay Street refugees, who have MBAs, like having control over their own personalized baby blanket business, but it isn't perfect.
Media reports often highlight the joy of being one's own boss, making money yet still being able to stay home with young kids. But the owners of Admiral Road Designs say that's too simplistic.
"We wanted to draw on our own experiences," said Ballon, 39, in explaining why the pair co-authored the book Mom Inc. about how to start a business, outlining the challenges and benefits.
"We think 'mompreneurship' is about trade-offs and choices, and choosing the things you want most," she said. "But you still have to take the garbage out. You still have to file the GST."
Ballon and Botterell started the business a decade ago, before either had children, and now they have five between them. They share how they did it, including examples of mistakes they made along the way.
They wanted the book to be real, get to the skinny -- everything from how to get a bank loan to how to decide whether you need to hire help to child care and employees.
Ballon will be at McNally Robinson Thursday at 7 p.m. for a presentation and book launch.
Mom Inc. offers practical advice, such as managing risk and what impact running your own business can have on a marriage. They even suggest treating yourself to lunch occasionally, since no one else is going to praise you, and their website http://www.mominc.ca has examples of how to write a business plan and media kit.
The duo interviewed more than 50 mompreneurs, from women who run multimillion-dollar enterprises to solo businesses in Canada and the United States, surveying 200 in all.
The book quickly points out that being a mompreneur takes hard work and focus, with women regularly working late into the night after their children are in bed.
While some enjoyed quick success and others utter failure, most reported they were happy they had forged their own path.
"Mompreneurs tend to start their businesses for a whole host of reasons," said Botterell, 40. "Some women are in it to make a million bucks, and some are in it to avoid losing their mind when they're home with their kids."
Even though half of all new small businesses in Canada fail, Botterell says their anecdotal evidence suggests mompreneurs seem to survive more often, in part because the business is not the main source of income for some families.
Becky Reuber, who taught both Ballon and Botterell when they were students at the Rotman School of Management and collaborated on the book, believes the trend of mompreneur will continue to grow.
The pace of working life has speeded up so much with BlackBerrys constantly on, some women, and men, are wondering whether it's what they want, she said. Plus women who are returning to high-powered jobs that require early breakfast meetings plus travel start to reassess priorities after a maternity leave.
"I don't see the workaday world calming down, I don't see the technologies that keep us going 24-7 subsiding," Reuber said. "As you get more role models, people are thinking, 'I don't have to rely on getting a job. I can do this."'
Ultimately, Ballon and Botterell hope people who read their book come to their own decisions on whether mompreneurship is for them.
But they're obviously sold on it.
"There is a real satisfaction to charting your own course," Botterell said. "I always say to people, every good thing that happens in the business happens for me and my best friend. On the flip side, every bad thing (that) happens also happens to me and my best friend.
"There's something about owning that, owning your own future."
-- The Canadian Press
Source http://www.winnipegfreepress.com/
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