Would you describe yourself as a business owner or a professional hobbyist?
I have an answer you may not want to hear.
As it turns out, the IRS would say you’re a hobbyist [and not a business owner] if you haven’t turned a profit in a given amount of time.
So let’s cut to the chase, how can you build a profitable business that is bringing in a consistent and sustainable flow of money?
5 Steps to Go from Hobby to Online Business [A profitable One]
1. Start Where You Are
It’s all about starting where you are and not waiting for the perfect time to launch, promote, engage, take action, elevate, etc! This is the one step so many fail to take.
2. Figure Out Who You Are Talking To
Here’s the deal, if you’re talking to everyone, you’re talking to no one! And even if you feel like you’re talking up a storm, chances are no one hears what you’re saying! Well, maybe not no one, but the people who need to hear you are likely not!
3. Create a Mama in Business Plan
When you decide to go into business for yourself it’s important that you create a business plan! Why? Well this quote from Brendan Burchard does a great job of explaining it!
Before you get too scared at the idea of creating a business plan, I should let you know that the plan I want you to make is simple! Here’s where it gets fun! In addition to including the categories you would traditionally find in a business plan, you are going to plan for Motherhood!
Because here’s the deal, as Mamas in Business we face unique challenges – uh, anyone heard of Mom guilt?
But just as much as I believe that I also believe that we were built to withstand a heck of a lot more than we give ourselves credit for!
So here are the Mama related categories you should plan for:
-Defining your Value Pyramid
-Establishing a Help System
-Self Care Plan
4. Come from a Place of Service
Your ideal clients need to feel appreciated, understood, and valued! Remember this:
How can you make sure that you are coming from a place of service?
Make sure that your business is aligned with your passion and service will come naturally!
Sell the solution, not the product!
Provide even more value than you already are! You can never provide too much value!
5. Develop a Consistent Plan of Action
Make sure that you stay present, relevant, and top of mind with your ideal client! Your prospective clients/customers may not need you the exact moment they first come in contact with you. But you want them to remember you when they do need you! And it’s a lot easier for them to remember you if you are consistently popping up in their newsfeed, in their inbox, and in their IG stories!
Decide how you plan on showing up for your audience and then do it! Be consistent and you will see how it pays off!
If you put these five steps into practice, you will be on your way to building the profitable online business of your dreams!
If you enjoyed reading ‘How to Turn Your Hobby into an Online Business’, then make sure to check out these other great reads: