As the chief executive officer of a multi-million dollar jewelry design company and an active philanthropist, Kendra Scott's work never stops. But when you ask this busy woman how she describes herself, she doesn't hesitate in saying, "I'm a mom first."



"I created a company that allowed me to be a mom and that was my number one priority from day one," Scott said.

As the founder and president of Kendra Scott Design, she's a successful "mompreneur." That's a new "slang term describing women, who run their own business while also acting as a full time parent," according to Investopedia. And she's just one of millions.

There are roughly 7.8 million women-owned business in the U.S., according to The National Women Business Council, which based its research on the most recent Survey of Business Owners by the U.S. Census. And women entrepreneurs create a collective economic impact of nearly $3 trillion.

(Read More: Run the World!: Case for More Women Entrepreneurs)

For Scott, juggling being a mother of two boys and running a business comes with challenges. But she said the balancing act allows her to be the best mom she can be, while doing what she loves—making jewelry.



"The way I work allows me to always be present in my children's lives, even if that means staying up until 1 am working after they've gone to sleep," she said.

Scott eats breakfast and dinner with her sons, drives in their weekly carpool and never misses their games. "I've always done whatever is necessary to make sure that when I'm with them, the focus is on them and them alone," she said.

As if Scott wasn't busy enough, she's also co-hosting "Crowd Rules," a new reality show. Every episode will feature three small businesses that compete in front of an audience of 100 that votes to decide who wins $50,000. "Crowd Rules" premieres on CNBC Prime Tuesday, May 14th at 9 p.m. ET/PT.



(Read More: Small Businesses You Can't Believe Exist)

A Multi-Million-Dollar Idea Born on Bed Rest

