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July 31, 2009

Guest Blogger: Lessons from a Mommy-prenuer

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Two years ago I took the plunge. I left corporate life to launch Bebe Paluzza. It was a leap of faith, and I was not going to allow myself to fail. I had a three-year-old at home with big brown eyes that stare up at me expectantly. I was his source of new food, shelter and Transformer toys. The latter being the most important, of course!

 

Being a parent prepares us all to be mommy-prenuers. It’s the skill of being able to juggle multiple tasks, stay organized, problem solving, and know that sleeping eight hours a night is well in the past. I knew that I would have to work hard. I knew there would be many long days. What I had to learn was that balancing work-life and my son was going to be challenge – but one think was certain, my family would always come first. There have been times when I have had a day full of meetings, multiple production deadlines, and a hoard of phone calls and emails coming in and I get the call. My son is sick and needs to be picked up from daycare. The rest of my day is spent juggling between caring for my son and rescheduling meetings. I wouldn’t trade it for the world.

 

As a mommy-preneur, I have learned not to take anything for granted. It’s all the little things that we need to be thankful for, that continue to build on our successes. I’ve been fortunate to have many friends, family members, customers and past colleagues, refer me to potential clients. For each, I have been sure to show my gratitude through a personal phone call or email to say thank you. Those people are the building blocks of my business.

 

My purse has gotten a bit heavier over the past two years. The wet wipes and bandaids are now sharing space with hundreds of business cards which I hand out or leave stacks of everywhere I go. Having a son makes that easier since he tends to want to frequent places that hit my target market – Chucky Cheese, McDonalds, the playground, the restroom at the Zoo…you never know where you might catch someone’s attention!

 

I knew that success would not happen overnight. I’ve learned that’s true – success doesn’t happen overnight, in fact – it takes multiple overnight “catch up sessions” to be a success.  But it is those late nights that I am thankful for being busy, thankful for long days, relishing on the sound of my son’s laughter from a tickle-fest we got into earlier in the day. 

 

For those who are considering life as a mommy-preneur, I have this to say – it’s tough and exhausting, but it’s very rewarding! If you have a dream, don’t let it pass you by. You deserve to give yourself a chance – dream big and shoot bigger.

 

Jenn Kampmeier
Founder, Bebe Paluzza Productions
Mom Since 2005
jkampmeier@indybabyexpo.com
"Everything From Bellies to Tots"
www.bebepaluzza.com
Shows:  Atlanta, Chicago, Denver, Des Moines, Houston and Indianapolis
Myspace Account:  www.myspace.com/indybabyexpo
Twitter: indybabyexpo
Facebook: http://www.facebook.com/group.php?gid=116897355402

WELCOME!

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Welcome to the J.D. Walls & Associates, P.C. blog.  We are excited about the opportunity to use this wonderful forum and hope you will find it both interesting and useful.  Moving forward you can expect to see our legal professionals providing useful advice, updates to legal issues, as well as general  tips and reminders on important legal topics that may affect you. 

We are also excited to have many guest bloggers who have agreed to contribute content as well.  They will be providing information and using their insights on areas of their expertise and experience.  We have CPAs, consultants, insurance advisors, financial planners, real estate experts and many other entrepreneurs scheduled to contribute.  We hope you enjoy the material and if you have any questions or suggestions about future topics, please do not hesitate to contact us.    We thank you in advance for your readership!

John D. Walls

jwalls@jdwalls.com       

Plan Your Business' Survival

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It is a sad fact.  Around 70% of family owned businesses do not survive the transition to the second generation.  How can this be?  A major factor is the lack of succession planning engaged in by small business owners.  Succession planning in any small business can be difficult but even more so when it is family owned.  There are always options to sell to a third party, but most people want the business to stay in the family.

It is a mistake to assume that Junior will automatically take over someday when you are ready to retire.  Is Junior prepared for this?  What if you develop health problems and can no longer work before Junior is ready?  What if you die before you retire?   Here are some tips to help you begin to address these issues and create a succession plan for your business:

1.        Start early:  At least five to ten years in advance.  The best advice is to put it in your initial business plan.  Sure it will change, but at least there is something in place.

2.       Be realistic:  Does Junior have the skills to run the business?  Does he want to run the business?   Sometimes it is necessary to go outside the family in order for the company to survive.

3.       Do not get hung up on dividing everything equally:  Ownership and management are two different things.  There are options which can allow the proper management of the business while still taking care of your family.

4.       Train your successors:  If you currently do not have anyone in the family or the business who has the potential for succeeding you, your options are limited. 

5.       Get outside help:  Lawyers, accountants, financial advisors:  Most of these folks can provide help and facilitate this process. 

Putting off succession planning is the worst thing you can do.  It is a recipe for not only chaos but for the business you worked so hard to build to become another casualty statistic. 

 

John D. Walls

jwalls@jdwalls.com      


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