Are you a hobbyist or striving to be a business owner?
Are you a hobbyist or striving to be a business owner?
Today more and more people are starting new hobbies and side-hustles, but at what point does it turn into a full-fledged business? Aside from what the IRS considers a business (which you can read more about HERE), there is a mindset shift that happens when you decide to turn your hobby into a money-making business that you plan to earn a living from! That’s what we’re here to talk about today, starting with my own personal definitions of hobbyist and business ownership.
Hobbyist: Always trying new things, going after shiny objects, and making enough money to pay for the said hobby.
Being a hobbyist is wonderful. You get to create something you love without all the added pressure of growing and building a business. Plus, you get to make a little extra cash!
Business Owner: Ready to focus on something they know is (or could be) a bestseller, understands who their ideal customer is, and is ready to take the managing and marketing of their business to the next level.
Business owners are constantly working on pricing and creating bigger margins, working on production and creating a system for efficiency, and nurturing buyer relationships to last a lifetime. It’s a lot of work! Staying focused ON your business is hard when you’re alone or constantly comparing yourself to what you see on Instagram.
As a business owner, you’ll find yourself asking questions like..
Where do you want to see your business in 5 years?
How are sales trending this month? Better or worse than the last? What’s my best-selling product? What’s my plan for reaching out to new buyers? Once I’m on their radar, how can I stay there and nurture those relationships?
To combat the comparison or lack of motivation, I’ve found that staying in my lane and finding a group of like-minded business owners that I can bounce ideas with is just the ticket. I’m able to share my struggles, ask questions, and share tips that might be helpful to others. Plus, these friends are always ready to talk me off the ledge whenever I’m feeling down and ready to throw the towel in! We all need a support system, even if you’re a one-woman (or man!) show!
This camaraderie can be found in my School for Creatives Facebook Group and with my small group of product makers who attend VIP Market Preview Days. If you’re ready to take your product business to a wholesale trade show and set up in front of thousands of buyers, you need to join me at the VIP Market Preview in Atlanta at America’s Mart!
The groups are small so that I can answer everyone’s questions and show up for each hobbyist or business owner where and how they need me. Each attendee leaves fully prepared to set up for their first show! Spots for my July VIP Market Day are limited, so book a Discovery Call TODAY, and we’ll see if you’re ready to join me and so many others who grew their business by more than half their first year at Market.