For a hobbyist who’s received a ton of positive feedback, it MAY seem like a gimme to make it official. For an employee who’s ready to retire and has seen it all, know it all and done it all, a business might seem like a no-brainer.
We hear plenty of success stories, we know it can happen, but too often we know people start a business, and in less than 5 years they will have failed, started some other business and failed again and so on. There are many challenges to pin point for a botched attempt at business, but one consistency we see is the lack of knowledge about “The Buck Stops Here”.
Take into consideration that being a “hobbyist” or a “valued employee” provides a type of shelter that makes it difficult to understand and accept the importance of grasping “The Buck Stops” concept. Another truth is that many people misjudge the so called “freedom” that self-employment appears to offers.
· you don’t have enough time
· you already have another job
· you have kids
· you have a family
· you have a life
· you are not technically savvy
· you don’t handle stress well
· you don’t have any support
· you’re operating on a shoe-sting budget
When you start a business the buck stops with you. Owning a business is a choice; it’s not mandatory. My constant advice is to never-give-up. There are options and solutions to fit every condition.
Adapting to the “the buck stops here” concept will keep you seated in reality. The key is to do the next best thing for your business.This is what makes it obvious that you are a serious business owner and not just running a hobby.
This is the last in our series of Business -vs - Hobby, however we have los's more information to share on this topic.
We’d love to chat with you about some of the strategies you can use to stay successful in your business.
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