Understanding the distinction between a hobbyist and a business owner is a crucial step in your entrepreneurial journey. This single insight can seriously impact the level of success you experience in your business and with your coaching!
Failing to understand it may cause you to hit the upper limits of your success without your even realizing it … and no matter how great your efforts, you will not see the results you desire. (Cue the ominous-sounding “dun dun dunnn.”)
But you can ensure you’re taking your coaching from hobby to profitable, thriving business by following the steps of the entrepreneurial journey outlined below, which I like to describe as rungs on a ladder:
Rung 1: A technician typically someone who secures a job doing something she’s really good at, and that she truly enjoys doing.
Rung 2: A hobbyist. Most coaches/entrepreneurs have the courage to move beyond Technician, to Hobbyists, and that’s where they often get stuck. They fail to move on to the next rung: Business Owner.
Because while they set goals and intentions as Business Owners, they operate from the mindset and commitment levels of Hobbyists.
Here’s the great news:
When you can bring your mindset and actions into alignment with your goals and intentions, you can finally move from Hobbyist to Business Owner … and reap the rewards, which include increased cash flow, greater fulfillment, and more FUN!
As a quick note, neither Hobbyist nor Business owner is “good” or “bad,” “right” or “wrong.” They’re just two different ways of running a business.
The point here is that to achieve the level of success you desire, your mindset must align with your goals and intentions. When you create this alignment, you experience peace, results, and happiness.
Take a look at the following chart, which outlines the distinction between Hobbyist and Business Owner in several key areas of a business.
Thanks to all of the above, Business Owners coach more clients, make more money, and make a far greater difference in the world.
Now, both Hobbyists and Business Owners can be great coaches.
They just have different mindsets, actions, and goals for their business.
So let me ask you an important question:
Are you reaching the level of success you desire? Are you making the impact you want to make?
If you are, then exactly where you are is perfect, whether you’re a Hobbyist or a Business Owner.
If you’re not, take a closer look at the distinction between Hobbyist and Business Owner to identify where you are and where you want to be.
Then, place your attention on closing that gap, by leveraging your time and resources to get the best possible results. Create systems that generate consistent outcomes in each specific area of your business (list-building, enrolling, onboarding, supporting, etc.).
How do you leverage your time and resources? Ask yourself how you can streamline, organize, and/or automate your business’s back-office tasks so you can free up your time to focus on doing what you love while powerfully serving more clients and scaling your business.
As you move up to the next rung of the ladder on the entrepreneurial scale, you’ll start experiencing the level of success you envision for yourself, while having the desired impact you wish to have on this world.
Sounds pretty awesome, right?
I’d love to hear from you, now! Which of the seven distinctions I mentioned above is getting in the way of you being the best business owner you can be, keeping you “stuck” on a certain rung of the ladder? Share your answer in the comments section below!