.: Dare To Define If You Are A Business Or A Hobby?
By:Tom Perkins
Category:Home / Business / Entrepreneurship / Growth Topics
For whatever reason, it’s not uncommon to find personal trainers who tend to treat their business more like a hobby than a business. Reasons could range from fear of failure to a lack of experience in running a business. Maybe, it’s just psychologically easier to ultimately accept the failure of a hobby than it would be a full-blown business.
Whatever the reason may be, treating a business as a hobby can be a costly mistake that no one can afford to make. If you are trying to determine how you treat your personal training business, take a look at the following characteristics of a profitable hobby versus a small business.
People operating a profitable hobby:
- Started it because it was fun, easy, fulfilling and lucrative.
- Attribute their success/failure to things beyond their control (i.e., the industry, the economy, fads/trends, etc.)
- Do not have a specific plan for the future. In fact, they are happy with the way things are here and now, and don’t foresee much need to expand in the future.
- Do not keep any type of records regarding business performance over time. They don’t know if business was up or down compared to a year ago or even six months ago.
- Think in terms of the here and now and seek only immediate results.
- Any additional training undertaken is solely for the purpose of performing their” hobby” better.
People operating a small business:
- Started it because they had a clear vision of what their service was; what benefits they could provide people; and what personal goals their business had the potential of addressing.
- Attribute their success/failure to a combination of their service and business professional skills.
Small business owners take responsibility for whatever happens whether it is good or bad.
- Engage in regular, systematic business planning throughout every phase of their business so that they can grow and prosper.
- Think in terms of the future and long-term results and consequences.
- Any additional training undertaken is for the purpose of optimizing the potential of their business.
So, which do you have? If you are treating your personal training business more like a hobby than a business, you need to change your mindset if you want to truly be successful. With 95% of small businesses failing within the first five years, you can not afford to treat your business as anything but a business.
A popular business saying states that if you treat your business like a business, it will pay you like a business should. If you treat it like a hobby, it will cost you. Typically, hobbies do not pay. You cannot afford to “try” personal training to see if it’s something you want to do. You either commit to doing it or you don’t. There is no middle of the road here.
If you choose to commit yourself and your resources to developing your personal training business, learn to stay consistent, to use the best tools possible, and to take your business seriously. The end result will be both professionally and personally rewarding.
Article keywords: business management, small business, strategic planning
Article Source: http://www.articles32.com
Tom Perkins is a business solutions coach and certified personal trainer who leads fitness professionals to profitability.
Send an email to thecoach1-140208@autocontactor.com to receive the Essential Business Success Checklist. Or visit his website at http://www.fitnessindustrysolutions.com.
.: New Growth Topics Articles
1). What is the Secret of Success?
Putting the Spirit of Christmas in your business everyday
2). Changes That Make To Be Born Entrepreneur
New changes are coming to enterprises and entrepreneur. This article deals about that.
3). Residual Income is the Key to Financial Freedom
Feed a man a fish, you feed him for a day, teach him how to fish, and you feed him for life. Choose to be financially free, instead of being financially secure, and learnhow to create residual income starting today!
4). Quiting the 9 to 5 - Family and Surrounding Matters
Quiting the 9 to 5 - Family and Surrounding Matters
5). 7 Steps to Building a Successful Business
Building wealth requires following a proven system to help guide you on your journey. Following a proven system considerably increases your odds of winning big.
6). Some Thoughts On Expanding Your Business
You may have found yourself in this position. You had hoped for it, planned for it, envisioned it and in some weird way feared it. It is called "expanding your business." It is called "growing your business" and seeing it do things that you were not really sure was going to happen.
7). Leadership - The Link Between a Clear Vision and Efficiency
Your ability to communicate a clear vision is directly related to the efficiency of an organization. Read on for more about the link between your vision and efficiency.
.: Top Growth Topics Articles
1). Is Network Marketing Residual Income A Myth?
The word network marketing has a great impact than any other business terms in the market today. The impact, however, can either be good or bad.
2). How To Use Professional Help For Business Growth
Explains how to obtain professional help in order to help your business to grow.
3). The Smartest Risk You Could Ever Make Financially
Discover the smartest risk any regular Joe can make today and in the future.
4). Dare To Define If You Are A Business Or A Hobby?
Determine how you treat your business, take a look at the following characteristics of a profitable hobby versus a small business.
5). 5 Ways of Increasing Business Profits
5 simple ways at looking to increase your bottom line
6). What Company Does Your Business Keep?
A man is known by the company he keeps. We have heard that phrase so many times. Our folks have cautioned us often with that in our silly childhood.
7). Welcome Back to Your Life - Outsourcing and the Entrepreneur
For entrepreneurs, balancing their personal and business lives can be a difficult juggling act. Learning to let go and delegate some of their responsibilities can be a much needed relief.