This week, I’m proud to feature a kindred spirit, Traci Bisson, an amazing mom entrepreneur who not only started her own marketing & PR company, but also a fabulous blog community for mompreneurs. Traci’s blog is full of useful information and offers wonderful support for moms trying to strike the balance between business & babies.
Q: What is your name & how many children do you have?
A: Traci Bisson, two sons, Lucas is 4 and Jacob is 8.
Q: What is the name of your company and when did you start it?
A: The Mom Entrepreneur started in April 2008 and Bisson Barcelona Mktg & PR started in August 2000.
Q: What was the inspiration behind your company?
A: The inspiration behind The Mom Entrepreneur came from my 8 years as a mom entrepreneur struggling to balance motherhood with running a company. Bisson Barcelona started after working for three companies that either went out of business or had department layoffs. I decided there was more security working for myself and it allowed me to spend more time with my newborn.
Q: How long did it take you to earn a profit from your business?
A: With Bisson Barcelona, I earned a profit the first year, but I also did not take from the company a salary equal to what I hade made at previous jobs. This is part of the growing process, knowing how to balance your income through other sources while your company grows. Fortunately, my husband had a secure job and supported the business for about three years until I could bring home a decent salary.
Q: What obstacles (if any) did you face along the way & how did you overcome them?
A: The biggest obstacles I faced was understanding how to grow the company slowly and strategically. We grew too fast and ran into several cash flow problems. The other challenge was that we hired inexperienced employees because we were not controlling the growth, we did not have enough money to hire talented employees who could bring the company to the next level. We eventually overcame these obstacles by hiring a business consultant who helped us build a solid foundation for the company and better understand our cash flow position at all times.
Q: Did you ever feel like quitting? What kept you going?
A: Absolutely, I think everyone thinks about quitting when times get tough. Mom entrepreneurs that don’t give up make it through and weather the storms. What kept me going was the fact that I never wanted to call anyone else boss, the quality time I am able to spend with my kids and the debt I owed from borrowing to keep the company going.
Q: What quality/qualities (i.e., tenacity, discipline, time management) do you think are necessary for a mom entrepreneur?
A: The most important qualities include confidence, empathy, patience and humility (the willingness to accept the fact that you do not have or know all of the answers helps).
Q: What one thing (book, website, coach, tool, blog, service, etc) was VERY INSTRUMENTAL in your success?
A: The one thing that I can pinpoint, which was really the turning point in my career is a book I read entitled The E-myth Revisited: Why Most Small Businesses Don’t Work and What to do about it by Michael Gerber. Fantastic book that really spoke to me.
Q: What is your favorite quote?
A: “Do good by doing good.” I was never able to find out who said it first.
Q: What advice would you give to a new mom entrepreneur?
A: Persistence pays! Follow your heart and do what you love. As a mom entrepreneur, you need to try to find balance between motherhood and running a company. It is not easy, but it is important. Visit www.themomentrepreneur.com and join our online support group. At our website you can also find more tips, advice and resources, including a list of grants, contests, awards and PR opportunities for mom entrepreneurs.
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