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The article and podcast episode content is produced for white-collar small business owners to include: attorneys, CPAs, certified financial advisors, dentists, plastic surgeons, insurance brokers,
The hobby-business phrase emerged in my life about 20 years ago when I had the potential to earn a six-figure independent sales rep income after leaving a corporate six-figure salary.
Mentally, my financial services industry was not a business even though product knowledge was high. I still had money in the bank from leaving corporate America. Then, the money ran out.
321 Biz Development needs the help of a trained psychologist to clinically diagnosis why people keep their businesses in hobby-mode. My story is my story and the transition out of hobby-mode is clear to me. Since I am not a psychologist, the burden to help people get a sound, mental foundation in their businesses is overwhelming.
What does it mean to operate a business in hobby-mode?
Hobby-mode is defined several ways:
Not giving your business the attention it needs to grow
Bypassing easy opportunities to connect with qualified prospects
Laying low behind the scenes instead elevating yourself in the spotlight
The biggest, tell-tale sign a business is in hobby-mode is there is no plan to make more contacts to add new clients.
If marketing activities have social media in the top position, hobby-mode is in full effect.
What businesses are exempt from hobby-mode label?
Businesses operating at full capacity.
Retail in nature where there are many competitors
Corporate marketing large investments
How can a business transition from hobby-mode to business-mode?
Put money, time and effort into professionally developing contacts and prospects.
Define and consistently refine your sales system to achieve high prospect to client conversions.
After a few years developing sales systems for small businesses, it is a near certainty most companies need help taking actions to move from hobby-mode.
321 Biz Development provides sales system and business development programs to guide companies from hobby-mode to business-mode status. Please do not hesitate to call us.
Thanks for reading this article and listening to this podcast episode.
Rick Nappier, President
321 Biz Development
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