Do You Treat Your Business Like a Hobby?

Have you had a hard time turning a profit in your business lately? Did it not get off of the ground the way you envisioned it would? Does your business seem to struggle and not perform well?

There could be a million reasons why, but today I’m going to narrow the focus to the way YOU treat your business?

Let me explain.

You REALLY want your business to succeed. You’ve dreamt about it for a long time. You want to be your own boss and call all of your own shots!

You may have quit your full time job to start your new business!

Now, your business seems to be struggling. It’s not generating enough revenue to pay yourself and your overhead. It may not even be generating any revenue at all!

The main reason you may not doing as well as you thought is, you treat your business like a hobby!

Do you just dabble in your business like you would with a hobby or do you really do all the things necessary to make it successful?

Dabbling will not get the job done.

What do I mean?

Dabbling is defined as: to work at anything in an irregular or superficial manner.

Read the following 10 questions and be honest with yourself as you answer them? This will give you a clearer picture of where you are right now in your business:

  1. Do you wake up every morning, jump out of bed and can’t wait to start your day? (Passion)
  2. Did you plan the night before (create a To-Do list) so that you know exactly what you have to do today to move your business forward? (Road map)
  3. Do you have a firm business plan in tact?
  4. Do you have written down goals for you and your business?
  5. Are you willing to put in the hours necessary to be successful?
  6. Do you have a growth strategy? (How do you plan to scale your business?)
  7. Do you have a group of advisors or mentors in place to help you?
  8. Do you have enough working capital?
  9. Do you actively seek out business daily?
  10. Do you promote yourself and business every day?

You may have gotten into your specific business because you genuinely ‘like’ it. You find it exciting and it really interest you.

That’s good!

Getting involved in something you like will definitely keep you engaged in the long term. Having passion for what you do is far more important in the determination of your future success.

Some people have turned their hobbies into very successful businesses. I had an accountant tell me once, “If you’re not making money in your business and you’ve been doing it for a few years, it’s not a real business, it’s a hobby.”

He went on to say, “That’s what the I.R.S. will think when they see all of your expenses and no income.”

Having a good business plan and road map will increase your odds of success substantially.

If you think that starting and running a business is like your hobby, you’re dead wrong. You need to generate revenue.

It’s going to take a lot of hard, dedication and persistence to make your business a success!

What do you think is the most important strategy you can put into action, to make your business a success? Let me know your thoughts?

Bob Theriot is the author of the book ‘Pounding The Pavement ‘ – Tools, Techniques and Inspiration for Succeeding in Sales. He is also a Gitomer Certified Advisor, which authorizes him to sell and deliver Jeffrey Gitomer’s body of work both online and in the classroom. Bob was trained personally by Jeffrey himself. For more information about tips and advice from Bob visit his blog at http://www.SuccessRocketBlog.com or http://www.BobTheriot.com

 

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2 Comments on “Do You Treat Your Business Like a Hobby?

    • Thanks for reading! I think that if people expect great things to happen in their business, THEY have to be willing to do great things.(And work hard.)

      Like

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