I would definitely be interested in what you're actually eating. Diet plays a big role in weight loss. That said, exercise is important, too! 8-10 pounds a month is definitely do-able, though I will second Fish-and-Chips' 2-3 pounds a week rule.
I'm a parent, full-time job worker, and part-time business owner, so I understand the time squeeze. I find a great way to get an awesome workout in is using something called Tabata interval training.
Basically, you pick an exercise(or series of exercises), and do it as fast as you can for twenty seconds, and then rest for ten seconds, then immediately repeat. Do this for eight repetitions(four minutes total). If you're feeling REALLY enterprising, you can try for more, though you'll find yourself pretty winded after four minutes if you're doing it right.
Some good exercises to do tabata intervals with:
You can pick just one exercise, or stick a couple together for a whole-body workout. For example:
Interval 1: Jumping Jacks
Interval 2: Bodyweight Squats
Interval 3: Pushups(kneeling if you're just starting out)
Interval 4: Crunches(bicycle crunches if you feel up to it)
Repeat intervals 1-4.
Tada! Workout over. Tabata intervals tend to keep your metabolism up and burning hot for an hour or so afterwards, so you get the effect of a long cardio workout in much, much less time. The high-intensity, anabolic nature of the workout makes it particularly good for losing weight as it activates a lot more large muscle groups with large energy expenditures, and really taxes your cardiovascular system.
Remember to take it easy at first, if you don't think you can finish all the intervals without hurting yourself, don't. Do what you can, and know your limits.