As a new business owner, we often treat our business like a hobby unintentionally. Perhaps your business even started as a hobby so treating it like one comes naturally. We want to be a business owner, but we have bad habits that are keeping us stuck.
Starting or owning a business is no easy to achieve. Your business must be high on your priority list whether you have multiple businesses or just one. The goal of every business is to turn a profit from selling goods or services. If you are treating your business like a hobby, then you are putting your business in jeopardy.
Hobbies are meant to be recreational or for sport. Although sometimes hobbies do bring on some sort of profit, the primary focus of a hobby is not to make money but to have fun. You need to reevaluate your business goals and plans if you treat your business as a recreational activity.
These mindset shifts below can completely transform how you do business, handle company finances, and think about the next steps in scaling or mastering your company, and just reading them may be a wake-up call.
Start calling yourself a business owner.
Our work and our business are such emotional things. So, when we first decide to go out into the entrepreneurial world it can feel vulnerable and scary. The weird thing is that it often feels that way most around the people we know closely.
A CEO is the highest-ranking person in a company and is responsible for making all managerial decisions. That’s what you do every single day.
You also handle your finances, run your marketing campaigns, head up all sales efforts, take care of customer service, and much more. Even if you pay someone else to do some or all of those tasks, the buck stops with you. How we talk about our business and our role in it has a direct effect on how others perceive what we do.
Do you invest in a business team or fly solo with your hobby?
Most leaders can agree that employee development is a critical part of creating a lasting business. However, many leaders assume that they can put the onus on the individual to provide their path to personal and professional development.
After all, your job is to grow the company; self-enrichment is up to them, right? The fact is, if you’re not investing in your people, you’re not investing in the future of your business.
Business owners plan for the investment of building a team. Hobbyists consider themselves the sole team member for the foreseeable future.
Have a legitimate website presence.
Business owners keep websites up-to-date with high-quality content consistently. Hobbyists check in on their websites infrequently.
Having a website shows that you are a legitimate business, not a hobbyist. A hobbyist might have an Instagram where they get clients or get jobs on Upwork sometimes. But, a business owner cares about having a solid online presence, and the first step towards that is a website of your own.
It’s never easy to realize you haven’t been doing your business the justice it deserves. But, if you truly are passionate about it, you can transform how you show up for it and turn that hobby into a more serious commitment. Your company will reap the benefits of these mindset shifts.