Mompreneur Spotlight: This Mother+Daughter Duo Built A 6-Figure Business In 3 Years

Business Basics For Mompreneurs

Source: Courtesy of Evana Oli / Subject

Wisdom For Moms Without A Business Background

After learning about their story, Redd asked Evana to share her tips for aspiring entrepreneurs. Redd recognized that not all mothers who want to go into business have an MBA (which Evana does), nor do they necessarily have strong business-minded role models within their family. So she asked Evana what her advice would be to women in that situation.

Role models don’t have to come from within the family, says Evana. “There are role models everywhere…strong women everywhere…find a network…find a sisterhood…there’s so much power when women get together.” Evana even jokes that women can call her (she didn’t give out her number, but she is on Instagram @EvanaOli and her DMs are open to mompreneurs with questions).

It’s those very networks that can be useful in particular to moms who don’t have a background in business. Mompreneuers can learn from these communities, find resources and even find mentors and coaches.

Empowering Resources For Black Mompreneurs

Evana and Zoe shared the many organizations and resources that have helped them along the way. From groups that helped with finding capital to finding mentors, these are just some of the organizations the duo recommends mompreneurs check out:

• Women In Toys (WIT). Provides networking and educational opportunities for female entrepreneurs in toys, licensing and entertainment.
• Hello Alice. Reports on grants available to small business owners, including Black-owned business grants.
• Fearless Fund. Group that invests in women of color-led businesses.
• Russel Innovation Center for Entrepreneurship in Atlanta. Hub that helps Black businesses in Atlanta grow through various resources.
• Goodie Nation. Combines the power of social and financial capital to fund Black-led tech startups.

New Entrepreneur Pitfalls

Redd asked Evana about some of the pitfalls she faced as a new mompreneur, and how she’d advise others to avoid them.

One of the first things Evana recommends is recognizing that building a business takes time, and being willing to start small is crucial. If that means you need to hold onto your day job while things pick up with your business, that’s okay. She also advises new business owners to plan for the worst. “Things cost more than you think,” says Evana, explaining that it’s important to have a financial plan for how you’ll bridge the gap if those first sales are taking time or if you go beyond your budget.

For mompreneurs who are thinking about getting started, or who have launched a business and are frustrated over how long it’s taking to build, Evana says this: “If you have something you’re passionate about, it will sell.” She emphasizes focusing on your story – on what the company means to you – and communicating that to customers.