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November 2013
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The Rise of the ‘Mumpreneur’

Posted by: Alex Linley, Director, Capp

 

Entrepreneurs see opportunities where other people see problems. It’s therefore both hugely exciting, and also no surprise, to read regularly about the rise of the ‘mumpreneur’, female entrepreneurs who are mothers. See, for example, this article from The Sunday Times.

 

With a business mindset, combined with a mother’s instinct and first hand experience of the perennial challenges, unmet needs and hence market opportunities that raising children presents, so-called Mumpreneurs bring their capabilities and personal experiences to the fore in meeting needs that they and the people like them face every day.

 

If ever there was a case for diversity in business, this is it. Imagine trying to design a product for mothers if you had no understanding of what it was like to be a mother.

 

I once heard an apocryphal story of a retailer that wasn’t selling as many children’s coats as they thought they should. Nobody sat around the table had any idea why. Then they asked a colleague who had young children.

 

“Because they don’t have hoods” came back the immediate reply. “Mums want to buy coats with hoods for their children, to keep them warm.”

 

How much wasted investment could have been saved, and how many more hooded coats sold, if this perspective had been part of the discussion from the outset?

 

The great thing for me about this story is that it illustrates the fundamental essence of entrepreneurship:

 

That anyone, anywhere can spot unmet needs through their own experience. Then, as long as you have the wherewithal to do something about it, anyone can be an entrepreneur.

 

Unlike being a lawyer, doctor or accountant, there are no qualification requirements to entrepreneurship. Just aptitude and appetite.

 

Go on – what’s stopping you!

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