Lately, I’ve been writing about how mentors and networking can push your business forward. This post is about how both mentors and networking gave one entrepreneur the idea to start a business.
Stacey Smith of Hybrid Mom
When Stacey Smith launched her invitation and stationary business, she recognized that her strengths were in marketing, design, creative ideas and research, but she was lacking knowledge in sales and financial management. “I looked to my own inner circle of friends,” says Stacey. “They ‘donated’ their time and experience to me to help me succeed.” After consulting with many other entrepreneurs and stay-at-home-one-time-corporate moms, Stacey found both a huge void and common bond – and an idea. What about connecting mom entrepreneurs who lacked resources and needed help with certain business areas with talented, educated and experienced moms who were willing and had time to support those mom entrepreneurs? “I saw that my little stationery company wasn’t going to change the world – but my new idea could.” And Hybrid Mom was born.
About Hybrid Mom
Stacey is committed to “helping each mom nurture her own ambitions, in a world where so much is demanded of her.” Like the word “hybrid” – the combination of two or more things – moms are notorious multi-taskers, who have many jobs and fill many roles, both personal and professional. To Stacey, “Hybrid Moms” are entrepreneurs, executives, bloggers, volunteers, consultants and students who are “actively pursuing their personal and professional goals on terms that still allow them a fulfilling family life.” Entrepreneurial moms can gain access to a wide array of information and resources to help develop their business. The business includes a quarterly print magazine, a consulting network of professional women turned stay-at-home moms who are supporting mom entrepreneurial members and a site that includes articles, an active community, an area to share information about your business, as well as the opportunity to be featured on the site and potentially the print publication.
On the Journey
“Owning your own business is one huge roller coaster ride,” says Stacey. “There are many ups and downs, obstacles and thrilling moments.”
No kidding. On top of caring for her newborn, Stacey also had to find the right people to support the concept, partner with her and help finance the idea. She initially went into business with the wrong person because she was a good friend – and then spent three years managing that mistake and making it right.
Stacey didn’t find that financial partner overnight – in fact, it took four years. “After almost ten pitches, eight revised business plans, nine executive summaries, four trips to different states, twelve adjusted financial projections, four bank loan rejections, and thousands of dollars at Staples for color copies, binders and dividers. Charlie Martin [of The Martin Companies and Hybrid Mom investor] got it, wanted to support it, loved the mission and is my knight in shining armor.” That’s when she knew she was doing the right thing. “It was the ultimate validation.”
Advice to Mom Entepreneurs
To moms setting out to the world of entrepreneurship, Stacey emphasizes prioritization. Although all entrepreneurs lack time, energy and resources, moms also play a huge role in juggling kids and family commitments. She emphasizes the importance of dedicating at least one full day a week for family. “With managing a family and a business, time is the hardest commodity,” she advises. “Do not dedicate 100% of your time to your business each and every day. In the long run, it won’t work.”
Stacey also confides that it’s also about perception when you start out. “If people think you have a team of 10 and in reality it’s only you – that’s ok.” Put yourself out there and gain visibility, customers and clients, or public relations. “Perception is the reality.”
On Her Team
“My team is by far the best,” she beams. As she lists members of her staff, I’m struck by how proud she sounds. She recognizes everyone’s contribution – from the editorial staff to those who clean the coffee pot at the end of the day.
She also outsources to a large assortment of freelance writers and consultants for projects. “All small companies or one-woman-show companies need to know their limitations and when they need help. Outsourcing is a great way to expand your bandwidth.” She’s also quick to point out that Hybrid Mom, with its 2,500 mom consultants nationwide, is a terrific resource for companies looking to outsource.”We fully support outsourcing to help a business grow and enable someone the ability to utilize their skills for the benefit of others.”
On Family Life
“My family is my support system,” says Stacey, who has brought them along on her roller coaster ride. Stacey found that she would have to dip into savings to keep the company afloat or spend time away from her husband to focus on business growth. Her husband would also need to pitch in extra to help with the kids. Balancing her marriage and business was “challenging to say the least…. There were many fights about me going back to ‘real’ work so that I could contribute financially to the household instead of working on my ‘hobby’ – until the day my investor came in. Now it’s quite the role reversal. He is a stay-at-home dad now!”
Stacey knows she’s lucky that she doesn’t need to rely on a sitter or nanny. “[My husband] is now a very involved caretaker in every sense of the word – cooking, cleaning and caring for the kids the majority of the time.” Her office is also very close to her home and her kids’ camp and school, so she gets to pick up and/or drop off and gets home for dinner most nights. “It’s a challenge, but isn’t it for everyone?”
To find out more about Stacey, check out Hybrid Mom or follower her on Twitter.
If you think you have a great story for Go Go Mama Go readers, please contact me!
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What a great article and company. I love your blog. I have started a regular feature on Entrepreneurs on my blog. We just did a post on a first time – self published author of a hot new Children’s book. Check it out it you want,
Love your stuff it is so fantastic to see all these Mom entrepreneurs, SO inspiring!
Take care,
Cameron from
http://www.conquerthemonkey.com (post at link below)
http://bit.ly/8q9T4
Thanks Cameron!
I love Stacey’s story. Hybrid Mom certainly has fantastic resources! I just explored the entire site and subscribed to the print magazine. Can’t wait to get my first copy!