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The Success Factory How Can I Turn My Hobby into a Successful Business?

In summary, Terri is urging others to set office hours, keep lines of communication open, and get help. She also recommends going home from work and treating the business like a real job.
DebbieJ
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Today's Tip


Subject: Moving from HOBBY to BUSINESS
Hi. I really need to make my business a business and not a hobby. I have two small children so I really need to maximize the time I give to my business to the utmost! I'm hoping to get some good tips through your website to help me be successful! Thanks. -Terri

This is a common “lament” amongst not only Party Plan folk but anyone who works from home. While we have addressed this topic before; we thought a quick review might be in order for those of you who have only been with us a short while.

We have the “perks” of working from home burned in our minds. We sell the advantages on each and every recruiting appointment. You know the spiel, “work in your pajamas, set your own hours around your family's schedule, no traffic to fight, do a load of laundry while you work, be the `field trip mom', no boss breathing down your neck…yah-dee-yah-dee-yah.” The list goes on and on. However, Terri's point is a valid one and a struggle for many of us as we try to make a viable income from home while at the same time caretaking small children. How is it that you can best move beyond the hobby level and (to quote Emeril) “kick it up a notch…BAM!”

Here are some tried and true tips that will help you do just that:

SET OFFICE HOURS (can we say this enough?) Set them, keep them, and know they will change each year as your children grow.
KEEP THE LINES OF COMMUNICATION OPEN. Share your goals with your family. Let them know where you want to be, when you want to be there, what's in it for them and how they can help.
GET HELP!* As much as we try, we can't do it all. Get a cleaning service (even once a month will help); schedule an extra party to pay for it. After all, wouldn't you rather do a party and let someone else scrub your floors?
CHILDCARE*! Yes, we KNOW you are working from home to be with your kids, but through our entire history in party plan we were always a party of a babysitting co-op or we hired another mom to help us out. (Don't belong to a babysitting co-op? Then start one! It's a great way to network for your business and it won't set you back financially because the `currency' is trading time for time) Visit your local library and check out a book on the subject.
TREAT IT LIKE A BUSINESS! That means you may have to say “no” once in a while. The biggest `rookie' mistake for those working from home for the first time is to think that magically there are MORE than 24 hours in a day and you suddenly no longer need to sleep. Figure out your priorities and learn to say NO to those who think you are just `playing office'. Resist the urge to drop everything to have coffee with a friend when it is office hour time.
GO HOME FROM WORK! One of the biggest challenges of working from home can be that you (mentally) don't go home. When you are spending time with family you feel guilty because you think you should be working and when you are working you feel guilty because you think you should be spending time with your family. AGAIN, go back to #1. By setting and keeping office hours (and set “party” nights as well) you will begin to be able to compartmentalize. Having a separate office space WITH A DOOR THAT CLOSES is also helpful if possible.
C.A.N.I. (Constant and Never-ending Improvement). Another “must” …stay motivated by reading our daily tips and TAKE A PEEK at our awesome training materials to help you keep on keeping on when the going gets tough!
These are the major MUSTS to kick things into higher gear. Stay tuned as we at TSF are committed to helping you with these and other challenges that we all face while growing our businesses.
 
Thanks so much, Deb!
 
Thanks a lot!
 
Great info to keep in mind in getting my business from home going. Thanks
 


Dear Terri,Thank you for reaching out and expressing your desire to take your business to the next level. As a pampered chef consultant, I completely understand the challenges of balancing a business and caring for small children. It can be a struggle, but with the right mindset and strategies, you can turn your hobby into a successful business.First and foremost, it's important to set office hours and stick to them. This will not only help you manage your time effectively, but it will also communicate to your family and friends that your business is a priority. Additionally, open communication with your family about your goals and how they can support you is crucial. You may even consider hiring some help, whether it's a cleaning service or a babysitter, to free up some time for your business.Remember to treat your business like a business, not a hobby. This means saying no to distractions and prioritizing your tasks. It's also important to have a designated office space with a door that closes, if possible, to help you mentally separate work from family time.And of course, never stop learning and improving. Take advantage of the resources available to you, such as our daily tips and training materials, to stay motivated and continue growing your business.I believe that with determination and these strategies in place, you can successfully make the transition from hobby to business. Best of luck to you, Terri!Sincerely,
 

1. What are some key factors to consider when transitioning from a hobby to a business?

When moving from a hobby to a business, it is important to consider factors such as market demand, competition, financial stability, and legal requirements. You should also evaluate your skills, resources, and passion for the hobby to determine if it is a viable business idea.

2. Do I need to register my hobby as a business?

It depends on the laws and regulations of your specific location. In most cases, if you are selling goods or services for profit, you will need to register your business and obtain the necessary licenses and permits. It is best to consult with a legal professional to ensure you are following all necessary steps.

3. How can I determine the pricing for my products or services?

Pricing can be tricky when transitioning from a hobby to a business. It is important to consider the cost of materials, time invested, and the value of your products or services in relation to the market. Researching your competitors' prices and conducting market analysis can also help you determine a fair and profitable pricing strategy.

4. How can I effectively market my hobby-turned-business?

Marketing is crucial for any business, and there are various strategies you can use to promote your hobby-turned-business. Utilizing social media, creating a website, attending local events and markets, and collaborating with other businesses in your industry are all effective ways to reach potential customers. It is also important to have a strong brand and unique selling proposition to stand out in the market.

5. What are some common challenges when transitioning from a hobby to a business?

Some common challenges include balancing your passion for the hobby with the demands of running a business, managing finances, and competing with established businesses in the market. Another challenge can be overcoming imposter syndrome and building confidence in yourself and your business. However, with proper planning and perseverance, these challenges can be overcome and your hobby can flourish as a successful business.

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