If you could create your own fantasy board of directors, who would be on it? CO— connects you with thought leaders from across the business spectrum and asks them to help solve your biggest business challenges. In this edition, we ask an expert about the lessons of being a parent and small business owner at once.
In this edition of “Ask the Board,” we ask Teresa Johnson, CEO of Color Me Mine, the leading paint-your-own pottery franchise, to discuss what she learned by owning several businesses while raising her daughter.
There’s no denying that balancing parenthood and entrepreneurship is no easy feat. However, it’s certainly possible and has the potential to change your life (and your child’s life) for the better. Here’s what I learned (and my daughter learned) as I ran a business while being a mother.
The value of hard work
Showing my child that anything can be accomplished with hard work was immeasurably valuable for her journey—both in school and in life. Did I miss out on things because of late nights or early mornings at my business? Yes. Did she miss out on activities because of her late nights or early mornings there with me? Yes! But understanding that what you get out of life is based on what you put in couldn’t be replaced with just talking about it. She saw that in action. There certainly could have been worse places to raise a child.
The ability to teach, not just talk
We all know that our children are always listening to us talk about life lessons or our advice on how to grow strong and tall, but my daughter was able to see those life lessons in action. She watched how I treated employees, she watched how I treated customers, she watched how I led a team, and most importantly, she watched my decisions when no one else was looking. I learned that kids who are watching their parent entrepreneurs soak it all in instead of dismissing life lessons as just talk.
Failures are as important as successes
Small business is no cake walk. She witnessed (and felt) failures with me. I learned that failures were just as important for her to experience as successes. While she didn’t have to make some of the mistakes later in her own small businesses, she learned that there may be as many failures as successes and how you react to those failures can determine your successes.
Showing my child that anything can be accomplished with hard work was immeasurably valuable for her journey—both in school and in life.
Teresa Johnson, CEO of Color Me Mine
Self-awareness and humility
No one in a small business gets there on their own. It absolutely takes a team of people to win games. We all have strengths and weaknesses and we have to recognize and appreciate the strengths of others around us. I learned that understanding my own strengths and primarily my weaknesses was the best way to live and illustrate humility and servant leadership. Always be humble for the opportunity you have for another day to succeed.
Work/life balance
I learned the true meaning of work/life balance before the phrase was even coined. Balancing business responsibilities with family time has honed my time management skills, making me more productive and present in both areas.
Empowering self confidence for women entrepreneurs
My daughter saw me open businesses myself; she watched me renovate spaces, get building permits, she even painted walls to help. I didn’t realize that all of those things she was learning in her teens would translate to her opening her first business as a 15-year-old high school student and five additional franchise locations (with her husband—also from a small business family) by age 29.
The fulfillment of legacy
Ultimately, it’s what we leave behind that truly matters. By raising my daughter in my small businesses, I learned the importance of building something that lasts—whether that is a successful business or instilling strong values and work ethic in my daughter. Both are important legacies that will last.
CO— aims to bring you inspiration from leading respected experts. However, before making any business decision, you should consult a professional who can advise you based on your individual situation.
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