Online business owners – and even coaches and mentors – can easily “open their doors for business” without a firm business plan in place. (I know I did … *holds head in shame*)
Some may test the waters to see if they attract any clients and some start out doing this online work as a side gig while working their full-time job.
So … if this is how you opened your business, do you have a business or a hobby?
A hobby traditionally is an activity that brings you pleasure that you do in your spare time.
A business, on the other hand, provides a service or products to clients, has regular business hours, and strives to make a profit.
Here are some questions to ask yourself to determine if you are working a business or a hobby:
- Do you have firm business hours or are you working sporadic hours as your family or full-time job allows?
- Do you make the most of your business hours or work time, working as efficiently as possible, or do you get distracted with social media or other behind-the-scenes tasks?
- Do you have a business plan, even for one year, which includes expected profits?
- Do you make opportunities happen or do you wait for them to come to you?
- Do you withdraw every penny from your account after clients pay or do you give yourself a pay structure and reinvest some of your profits into software, training, or other business expenses?
You should have an idea now about if your business is truly a business.
Not everyone needs a business degree to start a business; sometimes a unique product idea or a strong desire to offer services is enough to get started.
However, hiring a business mentor is necessary to set up your company to grow and generate profits.
You don’t know what you don’t know and without a business mentor, you will make many trial and error mistakes, some of which could cost you substantial money.
Instead of closing your eyes and hoping for the best, a business mentor will help you to create a plan of action and will guide you through the steps of the plan with tried and true business advice and strategies.
How many times have you come across a new method, system or strategy, tried to implement it into your business … decided after a few weeks it doesn’t work and then move onto the next thing?
You’re not alone … I see clients doing this all the time. But this is NOT good for business at all and it’s not a good use of your time, effort and true abilities.
A business mentor will help you to discover the right strategies for you and your business, support you in implementing them AND assessing if they are working for your business.
A good business mentor also serves as your accountability partner, someone who wants to hear from you about your progress and who will call you out when you don’t do the work needed to get you to the next level.
We all tend to lie to ourselves … especially if we have been slacking or procrastination kicks in. Your business mentor will be able to hold you accountable and call you out on all your excuses which means you get to face the real issues … resulting in faster progress and awesome personal growth.
Oftentimes knowing someone is expecting results is enough to spur people into action because they don’t want to let down the mentor.
So, if you want to turn your hobby into a true business and you’re looking for a strong business mentor who will call you out, kick your butt AND share all their methods, strategies and experience … then get in touch with me.
I’m currently looking for 3 new private 1:1 client’s, whose main aim is to turn their 4-figure months into 10k, 15k, 20k+ months.
I have recently created a brand new 3-month 1:1 program that will help other coaching & mentors finally smash through their income plateau’s and race towards those big 5-figure months once and for all.
Want to find out more about this kickass program and create your own PATH TO PROFIT, then CLICK HERE NOW!