Ep 62

This episode takes a look at some key steps in the process of making the transition from hobbyist to business owner.

It can be difficult to define when you make this transition, and it can be a strange feeling suddenly classing yourself as a business owner. It may even be something you’re feeling resistance and fear to. And that’s perfectly normal – but if you’re waiting for someone else to make the decision for you, you’ll be waiting forever.

If you’ve ever wondered…

When will I be ready?

How do I know when it’s the right time?

And what changes will I need to prepare myself for in order to make this transition?

… then this episode is for you.

I discuss what changes you need to expect and anticipate, and some key realisations that you will most likely come across when you make the decision to transition from hobbyist to business owner.

Most importantly – I point out challenges you will face so that you know what you will be up against, and they won’t take you by surprise…

 

EPISODE 62 QUOTE

 

Quotes and highlights from this Episode:

  • You will find as your business evolves that you will be making product that works for your brand not necessarily stuff you love.
  • This can be a huge sticking point – making for customers rather than for you.
  • ‘The fact of the matter is that if you do want to have a successful and profitable business it is extremely difficult to do it with one of a kind designs’ {Jess}
  • Wholesale and online selling can be very difficult when it comes to one of a kind items unless you are making high end products.
  • It is normal to come up against a wall with time limits.
  • Making reproducible items is an important consideration when making the transition from hobby to business.
  • Freedom of expression can be lost through turning your passion into a business.
  • You start spending most of your time making what other people want rather than what you want.
  • A lot of your time will be spent doing things other than making.
  • ‘When you have a business you have to do all of the business part too’ {Jess}
  • A minimum of 50% of your time will be spent on the business side of things especially when you are starting out with the transition from hobby to business.
  • You have to find that time and be willing to spend it on these tasks.
  • ‘You can’t just have a passion for what you make. You actually have to have a passion for business and all of the stuff that goes along with it’ {Jess}
  • You cannot grow your business without doing all that extra work.
  • Find the parts of the business that you love doing and embrace these.
  • You need to find what sort of business model is going to work for you and the lifestyle you want. This isn’t always something you can work out straight away.
  • If you make the transition from hobby to business you won’t be able to always just do the things you enjoy.
  • Look at these parts of the business as a challenge rather than a burden.
  • So how do you know when it is the right time to make the transition?
  • ‘Your hobby becomes a business when you start treating it like a business and when you decide that it is a business.’ {Jess}
  • You will need to start looking at the business from the perspective of the customer and you need to get strategic.
  • It can be a weird feeling for a lot of people and can fill you with self doubt when you start calling yourselves business owners.
  • You don’t have to have it all figured out to start, just start! You can figure it out and make it happen as you go.
  • Make sure to check out my new program (starting July 18) – Your Year to Thrive! I will help you get clear of ALL of this.

 

Download or Listen to This Episode

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