What’s a job-by? It’s what I call a hobby business or a lifestyle business. A job-by is a business that let’s you do something you love and make a little (emphasis on little) money doing it.
I was recently involved in a discussion with a group of women and I asked, are you running a serious business or do you have a job-by? And, boy-oh-boy did I get an earful! “It can be both!” they asserted. “Of course, I’m serious, look how BUSY I am!” they said.
Some people got defensive, others started justifying their business.
Whoa, when a simple discussion sparks a heated debate, you know it’s touched a nerve.
See, I think all business owners I connect with love their businesses – they run it because it gives them a chance to earn money doing something they love. But, are they SERIOUS about it?
Great question.
They would say and feel they are extremely serious about it, I’m sure. But let’s look at it another way…
How would I know you have a serious business?
Do you…
- Have a business vision?
- Have plans to grow your business?
- Invest in your business?
- Have systems and processes that are scalable and designed for growth?
- Have 12-month (or longer) goals and objectives?
- Manage your cashflow and accounts professionally?
- Know how much your time is worth?
- Know exactly what you need to bring in each month to meet your goals?
- Know where that business and those sales will come from?
- Have KPIs to track and adjust your results?
- Have a marketing plan?
- Do everything yourself or outsource?
- Have an exit strategy?
Sure, not all of these will apply to every business, but within a couple questions, I would be able to tell if you have a serious business or whether your business is, in the nicest possible sense, a job-by.
There’s nothing wrong with having a hobby or lifestyle business, But the cold, hard truth is that you aren’t likely to earn significant money running one. You can bring in some serious pocket change, but you’re probably not going to fund your retirement.
And that’s OK.
If that’s all you want, then just keep at it. Keep marketing consistently and you’ll do just fine.
If you want MORE – like a SERIOUS income – but you’ve set yourself up in a lifestyle or hobby business, you’re probably going to be disappointed. A JOB-by isn’t scalable. You’ll run out of resources (time, money, and energy) because you won’t have the foundation for growth. And if you did get the huge order of your dreams, you probably wouldn’t be able to fulfill it.
I’m not judging
One type of business isn’t better than the other, as long as it’s right for you.
What I AM trying to do is to help you understand whether you can achieve what you set out to achieve by running the business you currently have.
I’m encouraging you to create awareness around what you really want and then change your reality or your expectations. I’m encouraging you to give yourself some grace.
If you’re ready to take your business seriously, let’s work together to build the foundation, systems and processes you need to succeed. Schedule a 20-minute discovery call with me to find out more!