Is it a Business or a Hobby?

Tax Time

It is time to do taxes again!  I remember a year ago our accountant  explained that  we have to show income on the taxes and not just take deductions or the IRS would consider what I was doing a hobby and not a form of self-employment.  Reviewing that fact and with more experience under my belt, that is exactly what I want to talk about today.  So the question for today is: IS YOUR BUSINESS A BUSINESS OR IS IT A HOBBY?  CLICK TO TWEET

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I am constantly reading articles and updates in order to make sure that I am as current as possible.  Changes in social media seem to happen daily, and it is a lot of work to keep up.  One of the things I noticed is that new start-ups, new MLM’s, a new entrepreneur all talk about ideas, theories, or what they have learned.  The one thing I have noticed is that there does not seem to be a lot of talk about WORK.   CLICK TO TWEET

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While it is great to have a vision and goals, (see previous bog:     ) just focusing on those goals alone will never get you to where you want to go.  When I worked for FedEx, one of the things we were taught was that the small business owner does not wake up saying “Gosh, I hope FedEx calls today and gives me some business tips to help my business grow”.   Too often small business or new business owners seem to think that they can decide to start their business and the money will just roll on in.  Click To Tweet

Sprint or Marathon

If you are building a new business, you want to prepare for a long haul.    You will lose time from sleep, TV, video games and more.  This is not a case of training for a sprint; it is in fact a marathon.  You are not able to just sit back thinking something will happen.  It just does not work that way.  Click to Tweet

 

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Maybe You Are In Fantasy land

Many start-ups have been living in a fantasy land. There seems to be a complete lack of awareness of what needs to be done in the business world to survive. People that are having success now cannot assume it will be the same in five years.  Even if you hustle more than anyone you know, you may still fail.  They key to that survival is going to be the ability to adapt to what is going on around you and your ability to go “the marathon.”

2015-02-02_2103.png__fantasy_land__5Super Bowl Commercials

Tonight is the Super Bowl.  Most people will watch it even if they have no interest in either of the teams that are playing.  (I am a diehard Steeler fan and I will watch the Super Bowl)  So what makes these people, especially women, want to watch the Super Bowl?  THE COMMERCIALS. So why are companies spending hundreds of thousands of dollars on advertising?  Why will sponsors pay over a million per commercial during the game tonight?  Because they know the public will be watching that game and the majority of the commercials.  CLICK TO TWEET

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Is this true normally?  As emphatically as possible, I want to stress that it is not the way to advertise on a normal basis.  Your commercials have to be special and different to be effective.  Almost every household has a TiVo or a DVR and most people like to record their shows and watch at a later date.  Why?  To skip those irritating commercial!  Time is our most valuable commodity and skipping those commercials saves about 15 minutes per show.

 

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Old Fashioned Advertising

Here are some other examples  of “old advertising methods”:  billboards , and signs on buses or benches.  You are in the car, moving along, and driving.  How much attention are you paying to the billboards or to the benches?  Maybe a tenth of your time and it is nothing more than a quick glance.  Now what about your passengers, who the ads are really trying to target.  What are they doing?  Looking at their phones, updating their status, checking their Twitter feed, checking email, checking who posted what on Instagram.  Click to Tweet

 

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Hobby or Business

Now, back to my original question.  Are you building a real business or is it a hobby?  Are you prepared to go the long haul?  Most of all, are you willing to make the changes necessary to keep up with the current trends in today’s advertising?  Click to Tweet  When you are marketing your products do you aim for your ideal customer or do you just blast the internet, TV, newspaper with info about your business and ask folks to buy?  Are you taking the time to learn about social media so that you are not just spamming your fans and followers?  If not, why use social media at all?  My suggestion is that you take classes, learn how to do things that will appeal to your customer.  Give information that will help them, give them valuable information about their problems and how to solve them and be transparent.  The entire goal of social media is to have people know like and trust you.  When you have accomplished that, you can ask for their business, but their hands are already in their pockets preparing to make that purchase.

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Within the next 2 weeks, I will have Facebook as well as Twitter classes available for free.  I will be working on more advanced classes that will be available for a fee and I also offer done for you social media.  My book that is full of photos that you can use on your social media sites is available for sale tomorrow.  It has over 400 images and the cost is under $20.  If you are unsure, you can ask for a sample book that has over 40 images in it.  These are copyright and license free, but I do ask that the book itself be only for those that have purchased it.  (Girl has to make a living)  You can contact me at :  misschris7337@gmail.com or to purchase classes, please go to my website at: www.chrismcdonaldnc.com

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What do you feel your business is, a hobby or a business?  Comment below!

#advertising       #improve      #business        #SuperBowl

 

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