E15: Do You Have a Business, a Hobby, or Just a Side Hustle?
Manage episode 507988837 series 3665491
In this real and relatable conversation, Emma and Leanne dive into an important mindset question that many self-employed people wrestle with: "Am I running a business, or do I just have a hobby or side hustle?" They unpack what truly defines a business, why mindset matters more than your current income, and how seeing yourself as a business owner can shift everything. Whether you’re making five pence or five million, if you're working for yourself…you have a business.
Key Takeaways:
- If you're self-employed, you have a business, regardless of how much you're currently earning.
- Mindset matters: Calling it a “side hustle” can unintentionally limit your growth. Thinking of yourself as a business owner helps you show up differently.
- Clarity is key: Many people never ask themselves, “What do I actually want from this?” Knowing your goals is essential for sustainable growth.
- Network marketers, freelancers, and hobbyists…if you’re earning money and it’s within your control, it’s a business.
- Beware the "expensive hobby" trap. If you're constantly spending and not thinking about profit, it's time to re-evaluate.
- How you introduce yourself says a lot: Are you calling yourself self-employed, a founder, a freelancer, or a business owner? That language reflects and reinforces your mindset.
Actions & Reflections for Listeners:
- Reflect on how you define what you do: Is it a business, hobby, or side hustle in your mind and why?
- Audit your mindset: Are you holding yourself back by not owning the title “business owner”?
- Ask yourself the big question: Where do I want this to be in 1, 2, or 5 years?
- Track your numbers: Are you making money, or just spending? Start treating your business like a business.
- Pay attention to how you introduce yourself: Try using “I run my own business” and notice how that shifts the conversation and your confidence.
🔗 Links & Resources:
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Final Thought:
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17 episodes