27분
S1E29 - How hobbies quickly turn into businesses Boom Done! - The Get It Done Podcast!
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- 기업 운영
It’s really cool to “make money at what you love” but sometimes you have to do something that isn’t about money. I know…breath it's going to be ok! There is a need for everyone to do something because you love it, and not complicate the equation with trying to build a business from that hobby. I’ve started multiple companies that started as hobbies so maybe it's part of the hobby lifecycle to have a desire to do something for nothing which grows into something.
The 5 stages of hobby to business and back:
Stage 1: Interest in a new skill or hobby
Stage 2: You’re now good enough that people you know ask you to do the hobby for money
Stage 3: Good enough that people you DON’T know ask you to do the hobby for money
Stage 4: Making too much money that you need to form a business to save on taxes/liability
Stage 5: Find another hobby to escape your new business and start again at stage 1
Enjoy!
How to connect:
Twitter: @boomdonepodcas1
Email: boomdonepodcast@gmail.com
It’s really cool to “make money at what you love” but sometimes you have to do something that isn’t about money. I know…breath it's going to be ok! There is a need for everyone to do something because you love it, and not complicate the equation with trying to build a business from that hobby. I’ve started multiple companies that started as hobbies so maybe it's part of the hobby lifecycle to have a desire to do something for nothing which grows into something.
The 5 stages of hobby to business and back:
Stage 1: Interest in a new skill or hobby
Stage 2: You’re now good enough that people you know ask you to do the hobby for money
Stage 3: Good enough that people you DON’T know ask you to do the hobby for money
Stage 4: Making too much money that you need to form a business to save on taxes/liability
Stage 5: Find another hobby to escape your new business and start again at stage 1
Enjoy!
How to connect:
Twitter: @boomdonepodcas1
Email: boomdonepodcast@gmail.com
27분