How many businesses do you have if you call your hobby a business?
How many businesses do you have if you call your hobby a business?
None.
Calling a hobby a business does not make it a business.
I’ve been playing variations on this theme a lot this past week because this concept is so crucial to your success.
What does a real business look like?
1. You spend real money on it.
2. You spend real time on it
3. You spend deep thought on it
4. You can reliably predict the returns you will receive from your expenses
5. You have systems in place for traffic generation, lead capture, and sales conversion
6. You have outsourced or delegated all tasks except the ones to which YOU and only you can bring the most value.
Take a look at your business. Does it meet the criteria?
If not, don’t fool yourself that your hobby will ever support your financial goals.
I believe this message is clear...
It's up to you to decide what to do next.
To your business,
Michael
I welcome your comments and likes..
Recent Comments
5
Michael that's so true! You definitely need a system so that if something happens to you anybody can pick up the reins of your business no one is indispensable.
I have taken the last step this year. I have always outsourced a lot of things but now outsource all non-essential repetitive tasks. I have set up blocks of five minutes such as deal with comments on X web site or why website.
Leave yourself free to do the most important bits
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Loud and clear! Thank you!