Karen Sherr, 46, the brains behind successful franchise Musical Minis (www.musicalminis.co.uk) tells motherswhowork.co.uk how she went from being a play specialist at the renowned Great Ormond Street Children’s Hospital to successful mumpreneur. The mum-of-three shares how she managed to turn around a loss of ?6,000 in the first year of trading into a business model that other parents are now? buying into.
How did you fund the business? Personal savings
Profit in first year Loss of ?6,000 as start up costs were high.
What was the motivating factor for staring your own business?
I didn?t want to leave my son to return to work with other children. I also wanted something that was flexible and which I could run whilst caring for my family.
What do you enjoy most about running your own business?
Knowing that I am in control of the culture and values of the business.
Running a business can be a mixed bag sometimes. What have been you highs and lows so far?
The highs are seeing my franchisees manage successful businesses while maintaining the work/home balance they want. The low was when my business partner of 18 years decided to retire although she has stayed on as a consultant.
How have you managed to stay on top of your career with the demands of motherhood while running a business?
I set out with a clear strategy ? to grow the business at a pace that did not compromise my wish to be a full time mum. Having this as a purpose meant that I always took and picked up my children from school, attended school plays, school concerts and sports days. Even though it was frustrating to keep a lid on the business, it has been worthwhile and now the children are older I have been able to push for growth.
How has running your business impacted on your relationship with your partner and children?
My husband is a director of the company, albeit it is not his full-time job. My children, as they have got older, have all found ways of contributing to the running of the business. We all see it as just a part of our lives and have all enjoyed the rewards in one way or another. I don?t think the business could have survived without the support of the family.
Any tips for expectant mums, or mothers who feel that you can’t have a successful career and a happy family life at the same time?
1.??? Research the market and competition.
2.??? Start small, let the business grow as and when you can cope with expansion.
3.??? Have a clear idea what you want out of the business
4.??? Try to separate work from home. If your business is based at home (as all the Musical Minis administration is) have a second phone line fitted.
5.??? Have backup. If your child is ill what will happen to your business?
6.??? Know your limitations. For example if you have problems with accounts, get someone to help you.
7.??? If there are not enough hours in the day to do everything, do the bits you like (with both work and home life) and get help with the bits you don’t.
8.??? Work out the balance between work and home that you want.
9.??? Keep time to be a mum.
10.?? Set time aside to deal with administration, household tasks etc. If you keep putting it off the task will become huge (hours of paperwork for example? or loads of ironing) – regular manageable chunks of mundane but important tasks will help things flow smoothly.
