Recently and to my absolute surprise I was a finalist in the AusMumpreneur Awards for 2018, Big Idea category. This came as a total shock after my friend and beautiful jewellery designer - Corrine Lim secretly nominated me for my initiative with Sisters Stepping Up and the transition from my design agency to Love Beauty Co. I was extremely flattered!
For this I flew to Melbourne for a 2 day conference and a Gala Awards Dinner on the Friday evening. Was a lot of fun to mingle and meet some of Australia's most talented mums, I was I blown away. I actually had a momentary thought of "am I doing enough"?
As you would know I am a lover of learning, I am always bettering my skills and knowledge and love personal growth. So I thought I would share with you a few of my notes and take aways from the 2 day conference:
1. Get your finances in order!
- Understand where your money is coming from and where it is going.
- Are you tracking your numbers? Check your accounts daily.
- Use XERO or another cloud accounting software to organise and manage your finances.
- Invest in a bookkeeper.
- Understand your relationship with money, do you love it or hate it and be ok with that either way. Invest in others who can help you.
- The worst thing is not knowing what is happening with your money have feeling out of control.
- Make a money goal and take action steps to make it happen.
2. Ask and you shall receive!
Speaker after speaker this seemed to be the common thread... All of these women got to where they are by asking for it. Asking others around them to help, for advise or simply for support. As powerful and independent as these women are, no one can do it alone.
- Be ok with asking for assistance.
- Two heads is better than one.
- If you have an idea sleep on it. See how you feel in the morning.
- Collaborate, it's the quickest way to grow your network.
- Get out and network, meet new people. People are opportunities.
Something I had very little knowledge of before this conference. Luckily I am in a position where I don't have to manufacture and warehouse stock, this is managed for me however I learnt a lot about investment, capital and what it takes to create a product from scratch.
- Investors, not always the best option.
- How important is it that your business stays true to you and your mission? Or is funding the idea most important?
- Can you self fund or lend from the bank?
- Look into business grants (SO MANY AVAILABLE)!
- Understand that having investors means giving up some right to your idea.
- There are other options if you are looking for products to sell. Can you become a boutique and hold others products to start? Be the middle man and build the brand before creating your own.
4. How do these women stay so motivated?
These incredible women are not only building massive empires but are also busy wives and mothers, often of multiple children. How is it they stay motivated and inspired to run their usually at home business? Here is what I made note of:
- Understand why you are doing what you are doing. Is it for you, your family or for the greater good?
- Your dream doesn't have to die when you become a mum, in fact it is more of an reason to do it!
- If it's scary, do it!
- Lead by example, show their kids and the world that anything is possible.
- Show the world what you've got! You are more than just a mum!
- Would you feel regret if you didn't action this idea?
- A little each day will mean a completely different future.
- If you stayed in the same place, did the same thing each day would you be happy with your life in 5 years from now?
Ready to take action? Go conquer the world!