- You’ve been making those cakes now for family and friends and getting rave reviews.
- You are the go-to person for planning events in your circle.
- The feedback is always exceptional whenever you offer to help decorate.
- Your co-workers always nominate you to cook the food for any out of office event.
If you’ve become very good at your hobby during your spare time, friends and acquaintances may already be suggesting that you consider starting your own company.
So how do you know when it might be the right time to turn your hobby into a business?
You need to decide whether it’s a side-hustle or if you’re going to make it a full-time business?
You need to consider whether you are REALLY ready to be self-employed? Are you up for the challenge?
As Inc notes, your once-relaxing hobby will now come with deadlines and service expectations attached.
It’s important to remember that whatever format you decide on for your business you are going in with a core skill and it’s something that you are really, really amazing at doing for your clients even if for the moment these clients consist only of friends and family.
However, there are so many aspects of building a business that you just don’t know about because you haven’t done it before.
There are marketing and sales systems, operations and technology and leadership, hiring and building systems etc. and so, we end up wasting an incredible amount of time, energy, and money on trying to figure it out – by ourselves.
The key is to work with someone who understands growing a business inside and out.
Find the best business coach, strategist and guide and invest in what it takes to work with them.
This is where I see most potential entrepreneurs mess up. They spend money on every thing else under the sun except on guidance.
I would recommend, investing in help FIRST while you iron out the kinks, and then you will be earning what you need to invest in everything else.
If you want RESULTS, don’t skimp on investing in your business. Period.