▪️ HOBBY OR BUSINESS▪️
Is your business truly a business (profitable) or is it an expensive hobby?
Here are five signs that you're running an expensive hobby and not a business:
🚫 You don't have a business plan: You absolutely need a roadmap for where you're going. You don't need a 50-page business plan but you need to have some important details of your business documented so you can review, track, measure and implement.
🚫 You're not charging for your work: I get it that when you're new in the business, you're going to have to "pay your dues" aka do some free gigs in order to build your portfolio and that's fine. What you don't want to happen is an endless cycle of free.99 gigs all day, every day.
Pricing in this industry can be tricky, especially when you're starting (discussion on pricing will be for another post). Be sure to be compensated for your expenses at the minimum so you're not coming out of pocket.
🚫 You don't have an ideal client/target audience: Do you know who you serve? Do you have an idea who your ideal client is? Not knowing about the type of clients you want to work with and who you're showing up for makes you less visible in the industry.
Create an ideal client avatar so that you can find your focus and run with it.
🚫 You're not investing in yourself: You have a natural knack for event planning but have you taken the time to refine your skills or learn about new techniques, tools and best practices?
Take a course, attend a workshop and learn something new about your industry that will help you give your clients quality service or help you manage your business better.
🚫 You're not putting in the work: This is huge! It's one thing to talk about it and it's a totally different thing to take action and really do the work.
Create a schedule for your business and use your time wisely.
If any of the points listed above resonate with you, then it's time to do some reflection and decide what you're going to do. It's not too late to turn things around.
You've got questions, I've got answers!
Book a "Pick My Brain" Session to discuss a pressing issue in your business.
Click the link in bio