parent skills to start business

Have you ever considered starting a business but thought you didn’t have what it takes? You can use what you’ve learned as a parent to start and build a business.

Let’s take a step back and take a self-inventory. Let’s consider what you’ve learned as a parent. If you have raised kids, then you have developed an impressive list of skills—time management, logistics planning, relationship building, coaching, negotiating, and the list goes on. Now, combine that list of skills with those you’ve developed in your professional life. Look at your list and consider which of those items really motivates you. Which ones give you energy rather than drain your energy? 

What gets you energized and excited about the day ahead?

Think about times when you felt energized and excited about the day ahead. Now, think about what excited you during those times. 

Was it planning a great event—a birthday party, team dinner, or fundraiser? Whether it was for your family, a team, or the entire league, there were countless details to manage. You had to consider everything from feeding people to making sure everyone felt welcome. Guest lists were managed, details were communicated to the right people at the right time, and all your vendors got paid.

Some people really thrive pulling together events, while others dread even the idea. Other people would love to have an over-the-top birthday party for their kids or parents but simply don’t have time to pull together a party. And, since they don’t organize parties often, they don’t have the contacts or know where to find the elements, from tablecloths and tents to clowns and ice cream trucks. They’re willing to pay for someone who can manage all the details and pull off a great party. 

use what you've learned as a parentMaybe you loved seeing the kids’ pride when they suddenly understood a math concept you explained in a new way. Or perhaps you’ve seen the anxiety on your child’s face at some point when they just couldn’t quite understand a new concept. I’ll bet you can see how people are willing to pay if you’re the person who can present a concept to their child in such a way that they can understand it and bring about that sense of pride.

Perhaps you’re excited about the idea of providing tasty dishes to feed 40 people. Maybe you have a network and a knack for managing renovation projects, or you have artistic skills. Or you feel a huge sense of accomplishment when you manage and execute a list of a dozen errands you strategically planned to use your time and travel most efficiently. Maybe you loved the experience of volunteering in youth organizations – raising money, budgeting, and inspiring people toward a common goal. 

These things you have done as part of your normal routine are services that many people don’t have the time, inclination, or skills to do themselves. If you are truly happy and feel a sense of accomplishment when you provide these services, perhaps it’s time to consider offering them as a business. 

Becoming an entrepreneur

Becoming an entrepreneur and starting a business involves lots of moving parts besides the specific idea that excites you. Just like you can provide a service, there are people who provide many of the services that a business owner might need. And there are countless resources available to help you start a small business.   

As your children grow, you will be shifting your focus over time. Whether starting full-day school, just getting their driver’s license, or heading off to college, you’ll find yourself with more time and more freedom. This is a great time to use what you’ve learned as a parent and consider shifting the focus of your freed-up time to building a business and earning an income doing something you love.

Imagine getting paid to provide a service and enjoying what you do. It’s another aspect of being a role model for your family.  

Imagine building something that becomes a fulfilling part of your life as you enter the next stage in your journey. 

This article is intended to be educational and thought-provoking rather than financial advice. When we work together in a financial planning engagement, we discuss your unique personal situation and your unique goals. We examine these factors and many others during our financial planning process to determine appropriate financial strategies for YOU.

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