Dear Working Mom is our periodic love letter to working moms everywhere, where we deal with and unpack the challenges facing mothers and offer encouragement and support…
Dear Working Mom,
Are you doing too much?
If you’re reading this, you may feel a twinge of anger as you wonder if you really have a choice to do less. Wouldn’t you take the opportunity to lessen your burden if you could? Maybe, but then again, maybe not…
In this modern era, almost post-pandemic era of the “supermom”, the mother who can defiantly do it all, is it possible that working mothers have taken on too much, willingly or not? Is it possible that after all, mothers have resigned themselves to carry an excessive burden that was always too heavy for them? And most importantly, is it still possible to put some of this burden down?
If you could only open your to-do list, and look at it with fresher eyes, with eyes outside of the harsh, demanding, and ultra-competitive reality you’re accustomed to, maybe you could see that not everything on it is truly needed. If you could take the exhaustion you feel in your body and soul, the hint of resentment and anger you experience all too often, as serious signs of imbalance and excess, you could see that what you’ve come to consider as your normal pace is actually burning you out. If you could understand that what the world considers to be a superwoman, a “successful” working mom, is a grossly ridiculous modern exaggeration of women’s and mothers’ roles, then you may be inclined to consider that maybe, only maybe, you are doing way too much…
In between all the ultra-positive messages of female independence and #girlpower, the hyper-visibility of women’s accomplishments, and the transformation of motherhood into a competitive social media-fueled performance, it’s no wonder too many working moms are overwhelmed. It’s also no wonder you feel the all too heavy pressure to do it all at the same time, from breaking the glass ceiling, raising model children, keeping up a spicy partnership, to maintaining the perfect girl squad too…Even as you’re advocating for increased gender equity, adding more action items to your already packed to-do list, you’re carrying burdens that never belonged to you entirely. All the while, you’re signing up for more kids’ activities, volunteering for additional benevolent activities, and trying to keep up with a smile on your face and a paralyzing fear of failing in your heart…
While you certainly have a lot on the various plates you’re juggling, you’re still adding on more, for fear of saying no, disappointing your loved ones, or just not being up to par. The reality is, as much as you have to do, what you don’t have to do is slip into the dangerous trap of excess, whether it’s excessive commitments, demands or challenges…
It may be time to pause and listen to your body, soul and mind, as they first whisper, then start loudly yelling, warning you of impending crisis. These warnings are not a sign of weakness or calls to increase your stamina, as you compare yourself to other working mothers who seem to do it all at all times, in the most flattering Instagram filters too. Instead, they’re nudges to ask yourself: “Am I doing too much?”
Is that extra project absolutely necessary? Are the extra kids’ activities a must? Are the extra volunteering activities on three boards, two parent-teacher associations, plus the neighborhood council indispensable? Is taking on all the grand family holiday celebrations a must?
Are you doing too much? And if so, it’s ok to release all the extra, focus on what truly matters, and breathe again, even if imperfectly so…
In academics as well as the professional sphere, Black women have been conditioned to operate in excellence for the longest time. There is a badge of honor that comes with always showing up in your optimal capacity, especially if and when you’re the “only” Black woman in the room, the department, at this or that level, or in the company as a whole. The traditional saying according to which Black women have to work twice as hard to achieve the same, or lesser results, than their counterparts, has and still is, holding true for many Black women in the workplace…
However, with the advent of the COVID-19 pandemic and the racial reckoning that has accompanied it, it is a reality that is increasingly starting to fade out. As the glaring gender, race and class inequalities are rearing their ugly heads, inflamed by the repercussions of a global health crisis shaking the very foundations of our society, women in general, and Black women in particular are questioning the legitimacy and necessity of a narrative aimed at glorifying an ideal of excellence rarely rewarded in kind by the advancement, growth and progress it was always supposed to create.
Excellence, for the sake of it, is certainly a noble pursuit to aspire to. For many, Black Excellence has served as a tool of empowerment. However, unrecognized, demeaned and even questioned excellence drastically diminishes its intended impact and effects. The point of making it into once restricted rooms, once secret conversations, and into once segregated systems, is to birth opportunities for change, growth and progress. When these opportunities are stifled and compressed, status quo not only remains, it grows stronger by the sheer compounding effect of the unrecognized effort and the barriers in place. All in all, it becomes an even harsh reminder of the barriers still standing in the way of gender and race equity for all.
? How can this be when Black women are graduating at higher rates than their male counterparts, and entering the workforce in larger numbers? How can Black excellence result in such dismal representation at lower and higher levels of management alike?
These are just some of the questions at the tip of the Black Excellence iceberg that is prompting many a Black woman to divest from it, and even begin to embrace mediocrity, which for many Black women has long been associated with lack of opportunity. What was hailed as a protection against unfairness and bias, is increasingly being experienced and seen as too costly a badge of honor to carry. One that may unwittingly reduce the lives of those who strive for it, to exceptionalism that may not be necessarily fulfilling, rather than true meaning, purpose, and even sanity.
More and more, the question is being raised as to whether or not measuring Black women’s worth through what is traditionally being defined as “exceptionalism” is still valid? Is being a CEO or high-tech executive in a non-diverse environment the real definition of exceptional success, or one that needs to be re-visited to expand more inclusive definitions of what success may look like across gender and race spaces? Maybe true excellence is about fulfilling a career and life of meaning on our own terms, inclusive of our different identities and aspirations, making it a welcoming space of growth rather than an enclosed trap of traditional expectations…
Welcome to our #AskACPA feature where we answer financial, accounting and business questions.
Question: As a woman small business owner, what are tips to transition into the new year?
Entering a new year as an entrepreneur, whether you have a side hustle or full-time business, is not just a fresh start, but an opportunity to transition into a more fruitful business season. While it is important to set goals for your business, it is also crucial to effectively make the transition from one year to the other, especially as related to your finances and accounting. This is especially important considering the many disadvantages faced by women-owned businesses as a result of the current COVID-19 pandemic, despite the increase in new entrepreneurial ventures started by women during this period.
As an entrepreneur, how you finish one year, and start another year sets the tone for the future of your business. Many, if not most important metrics by which your business’ performance are measured, including budgets and benchmarks, are set at the beginning of the period. The goals set ahead are also defined at the beginning of the year, which all make the transition from one period to the other a particularly critical time.
If you’re working through your business transition from one year to another as a female entrepreneur, here are a few steps that may help:
Re-awaken your business’ WHY
Before even delving into financial and accounting figures and projections, the first step is to refresh your business’ WHY. That is your business’ purpose, the reason why you started it all in the first place. Your financial and accounting processes are only significant enough to the point where they are aligned with your business’ WHY.
After all, all your financial and accounting performance does is tell the story of your business, defined and embodied by its purpose. It’s the same purpose that ought to drive your strategy, and ultimately your financial results.
What is your business’ WHY? Has it changed from last year to this period? If so, in what ways? Are you still in alignment with it or have you lost sight of it?
Be honest about where you stand financially
This is especially important if your business is on a fiscal year calendar, which means it reports its financial results on a calendar year basis. As such, year-end financial statements and reports constitute an excellent barometer to assess the business’ performance in the course of the prior year.
As you closed the prior year a few days/weeks earlier, where do your business’ revenues stand? Have your revenues increased or decreased in the course of the prior year? How have your business’ expenses changed? What other parts of your financials have been affected? What are the reasons behind these changes, if any?
Being honest about, and understand where your business stands financially, allows you to transition into a new year with a better sense of the modifications needed to further your WHY.
Make a plan
Last but not least, relying on a refreshed sense of your business” WHY, as well as a clear understanding of where your business stands financially, allows you to confirm any goals you’ve set. Even better, it lets you devise a plan to reach these goals in a way that aligns with your business’ WHY, and address any gaps identified when reviewing your prior year performance.
Transitioning into a new year as a business requires a bit of a process. These 3 steps can help smooth out the transition and set you up for a successful year ahead.
New year, new transitions. While the rest of the world is busy setting goals it may or may not accomplish in the next twelve months, what is barely spoken about is the challenging need to transition from one year to the next. When it comes to work, this transition can be a rather daunting one, especially for many, if not most working women and moms taking into the new year increased responsibilities on the home and career front. As we’re still in the midst of an ever-growing pandemic, what with faltering childcare, a growing career “Great Resignation” phenomenon, and the constant debate around vaccinations, making it from one year to the next at work has become quite the difficult process.
As a working woman and mom, you may have felt the pressure of everything going around you, in addition to the usual pressure you normally face. I know I sure have…And while you may be caught up in the day-to-day haze of unending to-do’s and items to cross of your list, you may even not have given much thought of making a clean professional transition from last year. Yet, especially in the trying times we’re living in, it’s much needed. Every career year brings with it its weight of needed (and not-so-needed) changes, especially the last one we’ve been through. So much has changed, and is still bound to change, in the way we work and live, from the advent of remote work to the new rules of quarantine, that we cannot ignore the impact it has on our careers as we move into what feels like a new era…
If you’ve been contemplating the last year and are wondering about how to make the best of this transition at work, as so many of us are, here are some tips that may help:
Refresh your sense of purpose
If there ever is a time to refresh our sense of purpose in our careers, especially as working women and moms, it is certainly at the beginning of a new year, especially as we close a previous difficult one. It’s the opportunity to start again with a fresh slate, a fresher sense of who we are and what we want out of our work.
What are the areas and activities that truly bring you fulfillment? What are those tasks that bring your energy levels up instead of draining you? Where do you find yourself come alive? What parts of your work tap into your natural gifts and talents? These are the areas, tasks and activities that, knowingly or unknowingly, are aligned with your sense of purpose. Reminding yourselves of these, or uncovering them for the first time, can help re-awaken the purpose inside of you and guide you to seek to incorporate more of these into your current work, or move towards work that includes them.
You can also ask these questions of those around you who may provide you with an insight you may not have yourself.
Honestly assess the prior year
Your career is a living, breathing process that is supposed to evolve from year to year. However, this evolution can only occur when you’re willing to honestly assess the past as you move towards the future of your career. This requires you to connect the dots from year to year, asking yourself simple yet deeply revealing questions such as:
How did you feel about the last year of your career? (fulfilled, drained, overwhelmed, satisfied…etc)
What worked well?
What didn’t work so well?
Was last year aligned with your sense of purpose as described above?
These are also questions to ask of those around you at work, including your management and team. You can also consult your performance review for insights into these from others’ perspectives.
Now connect the dots…
Refreshing your sense of purpose and honestly assessing the last year of your career will help you connect the dots as the to the future of your career.
What needs to change?
Based on your sense of purpose and the last year of your career, how are you defining career success in this season? What would you need to do to achieve your own definition of career success, in your current or in a different role?
These three steps to transition from one career to another may seem simple, yet are loaded with information and insights to help you successfully move from one season of your work to another. Most importantly, they will help you set the appropriate, meaningful and purposeful goals for yourself in this new season.
Welcome to our #AskACPA feature where we answer financial, accounting and business questions.
Question: As a woman small business owner, what goals should I have for my small business this year?
New year goals are not just for individuals. They’re also for businesses looking to continue to grow, expand and do well in the future. In the wake of the COVID-19 pandemic, many, if not most of the businesses impacted are, unsurprisingly, women-owned small businesses. According to a 2020 survey by the U.S Chamber of Commerce, women-owned small businesses have been more significantly impacted by the COVID-19 pandemic than their male counterparts. Additionally, these businesses also have less optimistic revenue prospects, among general fragile recovery prospects for all business owners.
More than ever in recent history, women entrepreneurs, despite their numerous achievements even in the midst of this global health crisis, are faced with a tough battle ahead. Hence the need to set and commit to solid future goals. To keep things simple yet effective, here are three goals women small business owners can shoot for as we usher in a brand new year:
Own your accounting and financial processes
One of the biggest misconceptions and mistakes committed by small business owners is to neglect their accounting and financial processes. Proper accounting and finances are the foundations and the language of healthy businesses. As such, when small business owners do not proactively take ownership of their accounting and finances, or relinquish them entirely to others’ control (even if these are financial experts), they also relinquish effective control and ownership of their businesses.
This is all the more important for female small business owners, who face exponentially larger barriers including funding limitations. The key here is to get familiar with your most basic accounting and financial information first, such as the amount of revenues and expenses for the period to start. Understanding how the business operates in terms of its cash receipts and expenditures, and being able to own its financial story and be accountable for it, is crucial.
Create systems and processes
Running a small business is A LOT of work! Running a small business and staying on top of your accounting and finances is even MORE work! This is why it’s crucial, especially for women small business owners, who also wear many other hats such as working moms and caregivers among others, to create systems and processes to efficiently and effectively track their finances.
Using apps such as Quickbooks or Freshbooks, as well as creating efficient workflows for invoice, revenue and expense tracking, can go a long way to save time, energy and costly business mistakes.
Commit to continuous accounting and financial education
Financial literacy is extremely important for female entrepreneurs, who are most often at the helm of businesses that are disproportionately impacted by lack of funding and scarcity of financial resources. While this gap largely stems from structural and societal This is why it is crucial for female business owners to work at bridging this gap through continuous accounting and financial education through books such as “Million Dollar Women: the Essential Guide for Female Entrepreneurs” by Julia Pimsleur, formal programs, as well as mentoring, and accounting apps such as Quickbooks.
Overall, the importance of setting clear, defined and effective business goals as small business owners cannot be overstated. By keeping these goals simple and actionable, focusing on priorities such as owning your accounting and finances, creating efficient systems and processes and investing in continuous financial education, women-owned small businesses have better chances to succeed in the new year.
What goals are you setting for your small business?
