When you think about your future 5-10 years from now, what do you picture?
Do you clearly see yourself running a full-time business, or is your future a little fuzzy?
Without a clear goal for your business, it’s hard to stick tight to a single plan. We end up dabbling in different things, but never committing to a solid plan of action.
The problem with that is, if you treat your business like a hobby, chances are it’ll pay you like a hobby too.
Watch the video below to identify 3 common ways we treat businesses like hobbies, and how it can limit our success in surprising ways.
I’ve been thinking a lot about the components of a business, and what truly makes a business successful.
Above all, the key is knowing when to pivot or change your plan…
And if you’re treating your business like a hobby, that might be a clear sign that it’s time to make some changes.
Even in my own business, sometimes I have to stop and recognize when it’s time to reevaluate what I’m spending my time and effort on, and if I’m truly taking the steps that I need to.
If you feel that it might be time to reexamine your plan, here are 3 common ways we end up treating our businesses like hobbies, how it affects our businesses, and what we can do to change them.
Take a few minutes and think about the mindset you have toward your business.
Are you just playing around with it? Are you trying to work it around other aspects of your life?
A lot of people start a side business and hope that one day it’ll become full time. The problem is, they spend more time hoping and praying than they do on planning and execution.
If your mindset is less than ideal, ask yourself what the goal for your business is, and focus on making that goal a reality.
“If your business depends on you, you don’t own a business – you have a job.” – Michael E. Gerber
Think about your business and what you do every day.
Are the processes replicable?
Can anyone do them?
Can they be hired out?
What are the critical components, and what elements are for fun?
When you look at your business and answer these questions, you’ll learn just how much your business needs you.
Once you can streamline those processes and have a set schedule in place for them, you’ll be able to hire them out and allow yourself more time for what’s most important.
Having a team is an important component that separates a business from a hobby.
By having that team in place and allowing yourself the ability to step back from your business, you create an entity that’s self-sufficient.
Each member of your team has an important role, and your business should be able to function without you. When you can accomplish that goal, you create a business that’s scalable and even sellable.
Over the next few weeks, I’m going to be interviewing some incredible women who are each in different stages of business. I’ll be asking them about the goals they have for their business, where they’ve succeeded most and where they learned the biggest lessons.
You’ll be able to hear their stories, learn from their mistakes and experience, and reach your goals faster than you thought possible!
Stay tuned for more info on the incredible interviews coming up soon.
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