Mompreneur Advice, Choosing a Charitable Cause, and Preparing for Entrepreneurship
Advice from a Mompreneur Who Sold her Startup for $25 Million
What’s the secret to creating a nationally recognized brand that attracts eight figure offers?
Ask Julie Clark. She was a mompreneur and woman founder years before it became trendy, and (if you have kids) it’s likely you have at least one of her products in your home.
Clark is the founder of the Baby Einstein brand, a company she built from scratch and sold to Disney for $25 million (which went on to become a $300 million a year phenomenon).
Before becoming a mom, Clark was a high school English and art teacher. As she raised her young daughter, she discovered “how few resources there were for me as a parent to expose her to the things that I really loved and and those were things I had taught, so things like art and literature and poetry.”
She created a video to combine beautiful elements like Mozart, Bach, and Shakespeare with things her daughter already loved — and Baby Einstein was born.
For those considering their own startups, Clark says to “make sure your idea is unique. If it doesn’t exist in the marketplace already, the first thing you ask yourself is does it not exist because no one wants it, and if that’s not the answer, does it not exist because no one has done it yet? And if no one has done it yet, get out there. Ask people if they think your idea is a good one and if they do, start really thinking is this reasonable and realistic for me to do? Can I do it at a cost that I can afford?”
For Clark, that was only $15,000 (although that was a big sacrifice as it was half of her teaching salary at the time).
No matter your industry, Clark’s formula is a winner: find a void in the market, solve the problem with a product people love, understand the customer, and put the product where those customers are shopping.
Clark’s newest project is WeeSchool, a program designed to support parents and caregivers as they help babies up to the age of three be stimulated and grow.
‘Tis the Season for Giving: Tips for Choosing a Charitable Cause
Despite the new tax laws put into place this year, donating to a worthy cause can still help your business.
Small businesses thrive on community involvement, and charitable giving creates a positive relationship with the community. Millennials, in particular, are attracted to companies that donate to worthy causes and show commitment to making the world a better place.
If you own a small business, donating to charity is a great way to make an impact this holiday season. Here are six tips to help you make an intentional donation you can be proud of:
Choose a cause that is truly meaningful to your company. There is no shortage of nonprofits to support, and generous giving is more likely when people feel a connection to the issue.
Align the mission of the charity with the mission of your company. It makes more sense for a pet store to donate to an animal shelter than to, for example, early childhood education or the symphony (even though both are important causes).
Do your homework. Just because an organization is well known doesn’t mean it’s well run. Do your research, pick up the phone, and ask to speak with the executive director. Nonprofit leaders should be happy to speak with potential donors.
Develop an ongoing relationship with the charities you support. Volunteering, sponsoring events, and inviting the charity’s CEO to speak at local business associations are great ways to offer help and support year-round.
Engage your employees. Employees can help identify causes to support, select which charities to give to, and/or make their own contributions through a matching gifts program.
Anticipate challenges. Remember that some things may not go as planned. Some employees may not want to volunteer or might disagree with your cause. Always allow for flexibility.
In previous years, certain tax breaks played a major role in deciding how much to give. With the new tax laws in place this year, there are fears that giving will decrease.
Even so, business owners who truly want to make a difference know that giving is the right thing to do.
5 Things Every Entrepreneur Should Know Before Starting a Business
There’s a certain glamour to entrepreneurship, but the reality can be chaotic, shabby, and challenging (to say the least).
Before you quit your job to start a business, make sure you’re prepared for the following:
No Time: If you want to build a business, you should be prepared to work longer and harder than anyone else you know.
No Money: If you want a steady income, get a job. Don’t start a business.
No Stability: If you need organization and routine, this is not the life for you. Entrepreneurs must embrace the chaos and uncertainty.
No Ego: Bury your ego. At least until you have genuinely added value to your stakeholders.
No Control: You can’t build a successful business by doing everything yourself. You have to be willing to let go, trust people, and empower your team so the business can scale and grow.
If you’re still game — go for it! Entrepreneurship can be a great way to explore yourself, create wealth, and give back to society.
Just don’t say we didn’t warn you!