Are you ok with being a hobbyist instead of a business owner

Murder Mystery Party at the Ballentine-Spence HouseThere is a distinct difference between having a business or a hobby.

The Merriam-Webster dictionary says Business is:

  • : the activity of making, buying, or selling goods or providing services in exchange for money
  • : work that is part of a job
  • : the amount of activity that is done by a store, company, factory, etc.

The Merriam-Webster dictionary says Hobby is:

  • :  a pursuit outside one’s regular occupation engaged in especially for relaxation

A hobbyist still creates or builds things, but a business owner is doing this for money, and a hobbies is doing this for relaxation.

Ask yourself, “am I in this for the money” or “am I in this to feel good about myself”?

There is nothing wrong with having a “hobby”. Just understand that is what it is you are running, and stop putting so much stress on yourself.

I have several Hobbies! I love helping organizations build online and offline marketing platforms such as websites, events, marketing packages, etc. Another hobby I have is hosting community events at my historical landmark home.

The reason it is important to understand the difference is because your accountability and liability may vary depending on if you are operating a business or hobby.

With a business, you are accountable and liable to every customer who has done business with you and is about to.  You are no longer your own person, but an entity.  Money is your priority, and serving your client is how you will receive that money. If your product or service is in very high demand, then you can be more selective of who you serve, when you serve and how you serve. They lower the demand is for your product or service, the more you are at the beck and call of every client you can find.

With a hobby, you can stop making items  at anytime you desire. You can change your entire theme of shop or product line without a care in the world. You can set “working hours” that revolve around your schedule and no one elses, because money is no longer your priority, your happiness is.

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About Anna Campbell

Passionate about living life and using business as a force for good. Let's get together for coffee & discover your company's full potential. #bthechange Website: http://mrsannacampbell.com

Posted on February 23, 2015, in Starting Your Business and tagged , , , , , , , . Bookmark the permalink. Leave a comment.

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