Ready to Turn Your Hobby into a Business? Do this First
Do you know that moment when you can tell it’s time to take your small business to the next level? It’s exciting and scary all at once. I’ve been there, a few times actually, so I know what this feels like! And I also know what you need to do to move forward. So, are you ready to turn your hobby into a business? Do this first! Getting these 5 things squared away first things before you go all-in with your business will save you so much time and money, and will help your business grow so much faster!
I was complimenting one of my clients recently about the beautiful business she’s built and she said to me it all happened when she decided to go “all-in” for her business a few years ago. Since she has, she has doubled her business’s growth every year since. That is amazing!
That conversation with her inspired me to ask my money makers what my coaching group has done for them. A lot of them said they were ready to take their business to the next step, but they felt stuck because they didn’t know how to do it. That’s why they joined my Money Makers Coaching Group. My group has given them the steps and education they need to turn their business into one that actually makes them money.
But, of course, there’s tons of information I can share with you that will help you grow your business whether you’re a part of Money Makers or not. Starting with these 5 steps to turn your hobby into a business.
5 Quick Steps to Turn Your Hobby into a Business
I want to dedicate a blog post on this topic because I’ve been in this transition spot too–more than once–and it’s a hard spot to be in. You have to make a lot of big and scary decisions. I remember feeling like I was standing on the edge of the mountain and was afraid to jump because I didn’t want to fail. I stood on the edge for a whole year before I did anything about it. If only I knew that jumping would lead me to fly!
If you’re reading this post, I don’t think it is a coincidence. Consider this your not-so-gentle push off the mountain. I know you will fly! Too often we waste so much time because we don’t believe in ourselves. But I’m here to tell you that I believe in you. And I know that we have these “standing on the edge” moments because this is how we learn to trust and believe in ourselves.
So, take the leap and believe in yourself and your business. Are you ready to turn your hobby into a business? Do this first!
Step #1 to Turn Your Hobby into a Business: Change your mindset.
I’ve talked to you about mindset work before, but I’m going to do it again because it is so important and such a game-changer! The first thing you need to do is figure out what fears are holding you back from taking your business more seriously.
Identify the thoughts that are keeping you from making that jump and write them down. And then put those thoughts to the test. Are these thoughts 100 percent true? (Most of the time they are not.) And, are these thoughts serving you? (Probably not.) Let’s look at an example.
If you’re having the thought, “I’m scared to fail.” change the thought to one that serves you: “I’m going to learn so much and I am so excited to serve so many people who want and need my products.” That’s much better!
And just remember to not think of everything at once. Just take one step at a time and worry about the other things as they come along. I’ve pivoted so many times in my business and it has taken me to places I never thought possible (and were definitely not a part of my plan), but I love where I’m at now. And I know this can happen to you too. Believe in yourself and your business. You will do amazing things!
Step #2 to Turn Your Hobby into a Business: Get really clear on your why.
Growing a business takes WORK. And hallelujah for that because it has changed me! I am a much stronger person and business owner because of the journey I’ve been on to get here. No matter the opposition I’ve faced on my business journey, one thing has remained constant. And that is WHY I show up every day and choose to keep figuring things out in order to move forward.
That’s how powerful your why can be. If you know what your why is (why you show up and who you serve) and get as clear as you can on it, then it changes everything. You can check out this post here to learn more about how to figure out your why. And this one too if you want to learn how to get really clear on who you serve!
Step #3 to Turn Your Hobby into a Business: Get educated.
There is so much education out there. If you are overwhelmed by the amount of education available, I recommend choosing one or two people to focus on and learn from. There are a lot of voices and it can get pretty noisy. So, just keep it to 1-2 educators and that will help you avoid getting education paralysis!
The Money Makers Coaching Group would be an amazing pick for one of your voices if I do say so myself. This is such an amazing group because you get access to ALL of my courses, coaching, and a community of other business owners who are experiencing so much of what you’re going through too.
I know it can be scary to invest in your business, especially if you’re just starting out. I remember feeling like that too when I first started. However, I will say, that the times I invested in my business and educated myself about it is when I saw the most growth. Not to mention the confidence it gave me because I suddenly knew the things I needed to do and how to do them.
Step #4 to Turn Your Hobby into a Business: Get a coach.
I know there are a lot of business coaches out there. You need to find one that you trust and one that can help you see what your next step is. I have so many hours of coaching in me that I know what to look for when talking to clients who need help taking that next step in their business, even if they’re not sure what it is!
You can stick to my group coaching with Money Makers, which is an amazing deal, or if you’re ready for more in-depth coaching, I offer one-on-one strategy calls and I even run a marketing agency where we set up and run your brand messaging.
Having a coach that knows where you are AND where you need to go is so helpful. And I can be that person for you!
Step #5 to Turn Your Hobby into a Business: Find your community.
If there’s anything you should know, it’s that you should not be doing business alone. It’s just too lonely! You need people who are going through this with you. I remember when I was getting into my business more and more and I was so invested in it. I took my kids to a park day with other moms and their kids. They wanted to talk about potty training. And I wanted to talk about this amazing interview I just had where I learned all about marketing strategy!
It’s a hard place to be in when you feel misunderstood and there isn’t really anyone who will talk to you about your business that you are super passionate about. That’s another reason why I created Money Makers. You’ll have so many other people to connect with who are just as invested and interested in business strategy as you are!
Ready to Turn Your Hobby into a Business? Do this First
So, are you ready to turn your hobby into a business? Do this first! I promise following these 5 steps will move you forward in a way that will be faster and better than if you were to try and figure it out on your own. Remember these steps and refer back to them often whenever your negative thoughts start to creep back in! I adore you and am cheering you on every step of the way. I will always be here to give you that not so gentle push you need that will bring you the most amazing results for your business.
If you’re ready to turn your hobby into a business, join Money Makers. If you’re not quite ready for it, you can join my text list instead! This is where you’ll get tips and resources to help you stay on track, starting with my goal sheets! You can join by texting “money maker” to 951.309.7885. And don’t forget to follow me on Instagram @iammichellegifford for all the biz tips and tricks you need!