April at 11:04 pm #46594
This issue really struck a chord on a different thread, so I thought it would be good to start a new thread focusing on the difference between a hobby and a business.
Most of us claim to be entrepreneurs who are trying to start or grow businesses, but too often we’re treating our efforts more like hobbies than businesses.
A few major differences between hobbies and businesses are:
1) We do hobbies when we feel like it. We work at a business whether we feel like it or not.
2) We don’t expect our hobbies to produce much income if any. We do expect our businesses to produce enough income to support us.
3) We mostly do hobbies mostly for our own benefit, we do business mostly for others’ benefit.
With such drastic differences between these two approaches, it should be no surprise that we cannot really expect success if we treat our online efforts in a hobby-like manner.
So let’s talk about this!
Here are a couple of questions for you:
1) Are you treating your business like a hobby?
2) How can you move from a hobby approach to a business approach?
Are you Living Your Call?
April at 12:13 am #46597
I believe that to some degree I just might be guilty. I work hard, and I’m at it all the time, but I never make money. Maybe, just maybe, I need a paradigm shift here… I’ll watch this thread to see what others say. I need to get myself on purpose–which is to earn $$$.
April at 1:43 pm #46673
April at 3:38 pm #46678
That is one of those startling questions that leave you wondering about your self.
Before I realized that I could actually teach others the mechanics of setting up a business online and then teach them how to write and how to get in the routine of posting and socializing in order to monetize their new business–I was just writing articles for money.
As a result of what I was doing, I no longer have a list. I can write effective products–but I’m not sure what to do with them. I even have several already.
After the call today, it seems possible I could begin doing youtube videos and get a list going that way. So, I guess the answer to your question is that I have to grab that avenue of possibility and step out of the boat onto the water and start walking with my eyes on the Lord.
It’s like Bruce said, “preparation and implementation.” I am currently like the woman who cleaned her house and prepared the food but forgot to invite the guests. 😉
Thank you for asking that question. I needed to have to answer it.
April at 2:41 pm #46675
This topic is still on my (long) list of things to write about, but I thought that I’d add another comment here.
One big shift for me came when I actually launched a product to my list and the list of someone else’s, and then people who I didn’t know actually bought it. That was a huge validation that people found value in what I had to offer. It wasn’t just Sean or anyone else in the Forum telling me that they liked my ideas.
And so one step in thinking about what you’re doing as a business, instead of as a hobby, is to finish off just enough preparation so that when you release a product, people can buy it.
As I see it, there are fundamentally two categories of activities in any business: Preparation and implementation. You can prepare your website, your autoresponder, your email campaign, your free product, etc. You can prepare to implement all those things, too, by linking them together. But it’s only when you offer your product for sale that you actually implement all that you’ve prepared.
To me, that’s key.
Hope this helps.
Dr Bruce Hoag
Helping you to break through the barriers that hold you back by teaching you how to think differently so that you can finally get the results that you want.
April at 11:53 am #46710
ShariLee, I enjoyed what you said about being like the woman who cleaned her house and prepared the food but forgot to invite the guests.
What a great visual for me. I think in some ways I’m similar, but I’ve invited guests by giving them an open house invitation to come any time rather than a specific time of day.
Helping you share your story through technology.
April at 12:37 pm #46712
This is a great topic Michael. I understand what ShariLee is going through. As she begins to search, she will find her missing link.
Bruce also gave a great suggestion on preparation and implementation.
ON my end, I approached my business, as a business from inception. Making the mindset shift is essential. However, I am still not where I want to be financially and I have now come to one conclusion. Even before preparation and implementation is finding the bleeding neck problem. I have deduced that I am not yet making money because I need to dig deeper. So, after the summit, I am not going to create any more products but dig deeper to find that bleeding neck problem.
Dr. Tranquille is a Business and Life Success Coach. She helps entrepreneurs, coaches, small business owners and professionals to take action and achieve their business, professional and personal goals, by applying the right success principles. Get your Starter Success Bundle here: https://peaklivingwithmel.com/starter-success-bundle-2/
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