Barbara Corcoran: How Entrepreneurs Can Make Room To Start a Family
Written by
Marc Guberti
Edited by
Rebekah Evans
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Barbara Corcoran has shared business advice with many people over the years. She even started a podcast called “Business Unusual” with Corcoran and on one episode answered a listener’s question about making room to start a family. Corcoran detailed what you can expect and some ways to make the transition more seamless.
You Will Have to Give Up Some Control
Entrepreneurs are used to having full control over their schedules, especially if they don’t have kids. However, you will lose some control the moment that you start a family. Your baby will need diaper cleanings and will wake up in the middle of the night and need attention during those early hours. As children get older, they have more commitments and activities that require you or the spouse to drive them around.
Corcoran said there’s never a perfect time to start a business or a family. If you wait for the perfect moment, you can miss out on one of the greatest joys that life has to offer: raising a family. The best entrepreneurs thrive on uncertainty and Corcoran said earlier in the show that you have to be willing to be uncomfortable and make changes.
Don’t Be Afraid To Share Your Development With Clients
The caller was worried that mentioning her baby could cause clients to leave her. The caller’s logic is that clients may worry that maternity or paternity leave can negatively impact the quality of the services that you provide for them. It’s similar to how some corporations worry that a woman will walk out of the workforce shortly after becoming a mother.
However, Corcoran said in the episode that views on maternity and paternity leave have changed. The podcast host and real estate mogul even suggested letting your clients know about the happy development but leaving it at that.
If something related to the baby causes you to miss a meeting, you don’t mention the baby. Instead, you can simply say that something came up and request to reschedule. It’s better to ask for a new time and date a few days or hours before the actual meeting is supposed to take place.
How Long Should You Leave the Workforce?
Corcoran mentioned that people’s opinions have changed and they are more comfortable with mothers and fathers leaving the workforce for a bit. However, Corcoran doesn’t provide a specific timeline on this since everyone is different.
Some people return to work after two days of maternity leave, while others take more than two months. Both options are fine, depending on what works for you. It’s important to consider how flexible your business is when deciding on maternity leave. For instance, business owners who work from home have more flexibility. They can work for one to two days per week during their maternity. That way, they are still present but harder to access. Business owners can also consider hiring a personal assistant during the pregnancy so parts of their business can continue to move robustly.
You may also need an assistant for the long run now that you have a family. A personal assistant can minimize how much time you spend on mundane tasks that don’t have as much of an impact on your business. Families can also consider if the spouses split up business responsibilities. For instance, if the mother works for one to two and the father works for another one to two days, they can cover a lot of ground while not spending as much time on the business.
Emulate the Traits You Want To See in Others
Later in the podcast episode, Corcoran mentioned a valuable insight about leadership that also applies to entrepreneurs who want to start families. Entrepreneurs can benefit from thinking about couples who can manage their responsibilities while spending time with their children. Some people can find these families in their neighborhoods, but you can also find them online.
Once you get an idea of how various entrepreneurs have managed this lifestyle change, you can then emulate those traits in yourself. Having a good role model and knowing what type of person you want to be can make the entire experience more smooth.
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