(Online business marketing) When Does The Hobby Turn Into A Business?
By Ben Needles
There are many good amateur artisans out there, they are as good if not sometimes better than people who have chosen to make a living from their field.
The difference between an amateur and a professional is that an amateur does not get paid for their work where a professional does. This has changed slightly in recent years, while amateurs are people who are happy to create pieces to give as gifts or even to sell to help recoup some of their costs a professional must sell their pieces so that they can cover their expenses as well as make a profit.
The good part in respects to most crafts is that to go from hobby to professional does not need to be a difficult process. Many artisans are lucky in the respect that they can go from fun into mastering their art and advancing to a level of a serious amateur with the final step of putting their experience and knowledge into earning decent money.
Part Time vs. Full Time
Unless you are lucky enough to give up your day job the regular artisan begins working art their craft on a part time basis and then gradually grow their business into a full time operation. Starting your business on a part time basis can offer many advantages here are some points to consider when you do:
- You are able to obtain a feel for the possibility of your business and markets before dedicating all your time.
- You can still keep your full time job and have a steady income while working on your part time job at home.
- If you are not currently working but need the extra cash to operate your part-time business then you can work a part time job to make ends meet.
- Build a cash reserve thats that will enable you to finance your first years full-time operation.
- Attend classes to increase your skills; this will be more difficult time wise when you have a full time business operating.
- Establish adequate business facilities in your spare time without financial hardship.
- Start looking at the of numerous business related details like creating a logo, business cards, letterhead, brochures, and a Yellow Pages listing.
- Set up files and establish customer accounts, vendor accounts, and bank accounts.
- Let your business grow until its making your projected or required full-time income.
If youre a part time home based artisan you can do all of this and more until you feel that you are ready to take the business on full time basis. It is a good way to start establishing the funds you will require in your business while gaining valuable experience in other related fields.
About the Author (text)
Need more information on how to start a home craft business then please visit
http://www.thingshandmade.com
Marketing Solutions For Your Business
The One-Page Business Plan for Your Bookkeeping Service
By Laurie O’Neil
Sometimes the thought of sitting down to draft a business plan sends me running for the hills, even though I preach the importance of planning to all of my clients! Small business advice: Without planning, your bookkeeping business goes nowhere fast. When you fail to plan, you plan to fail.
What I have come to learn as a business coach is that business plans don’t have to be long to be good. In fact, a single page can contain all the essential elements you need to show where you’re taking your bookkeeping business and how you’re going to get there. The most important reason to have a business plan is to clarify your thinking about where you are taking your business. When it’s in writing, others will know and understand your vision and your plan.
Here are a few characteristics of an effective one-page business plan for your bookkeeping business:
- Simplicity. A one-page plan takes a complex subject and makes it simple.
- Focus. It focuses on what’s important. There is no room for fluff or filler.
- Versatility. It is a communication tool for employees, prospective employees, partners, shareholders, investors and bankers.
- Consistency. It sends the same message to every person who receives it, unlike a verbal presentation, which may change every time you speak.
- Flexibility. It is easy to change and update.
The Five Elements of the One-Page Business Plan:
1. The Vision Statement - What are you building?
This is the place where you describe your vision - your way. Most business coaches will tell you that vision statements should be expansive and idealistic. They should stimulate thinking and communicate passion, while painting a detailed picture of the bookkeeping business you want. The key to capturing your vision is to refrain from restricting the flow of thoughts.
2. The Mission Statement - Why does this business exist?
The mission statement describes the purpose for which your product, service or business exists. Great mission statements are short and memorable. They communicate in just a few words the company’s focus and what is being provided to customers. They answer the question, “Why will customers buy this product or service?” The mission statement should also reflect the owner’s passion and commitment. When the business satisfies an owner’s passion for creativity, independence or the need to serve, there is substance and staying power in the mission.
3. The Objectives - What results will you measure?
Objectives clarify what you are trying to accomplish in specific, measurable goals. Some of the best small business advice that I can give you is this: for an objective to be effective, it needs to be a well-defined target with quantifiable, measurable elements. There are many types of objectives, and your plan should include a variety of them. For many businesses the two most important categories will be the financial and marketing objectives. It is important, however, to tailor your objectives to cover the full scope of your bookkeeping business, focusing on the goals that are most critical to your success.
4. The Strategies - How will you grow your business?
Strategies set the direction, philosophy, values, and methodology for building and managing your company. Strategies also establish guidelines for evaluating important business decisions. In most industries there are four to six core strategies that successful businesses follow. These core strategies are easy to understand, remain relatively constant over time, are used by market leaders and result in profitable growth. Here are two examples of a core strategy: “Price isn’t everything,” and “Attract the very best employees and give them a stake in the business.” What are your strategies?
5. The Plans - What is the work to be done?
Plans are the specific actions the business must implement to achieve the objectives. Plan or action items should contribute to the growth of your bookkeeping business. Each plan or action item is, in effect, a project. Plans should be action-oriented, list specific tasks and have definitive deadlines or due dates.
Once your plan is in writing, it is now time to put that same plan into action. Putting the plan into action is the most important step because the actions deliver the results you wanted when you started this process. For most entrepreneurs, this is easy - you are already action-oriented! Here is some business advice, as well as a few suggestions, to help you put (and keep) your bookkeeping business plan in action:
- Keep the plan with you.
- Use it as a decision-making tool.
- Update it with new thoughts.
- Share it with people you trust and whose opinions you value.
- Measure your progress at least quarterly.
- Prepare a budget to match the plan.
Linda Hunt and Laurie O’Neil are the co-founders of The Bookkeeper’s Referral
Network Inc., the place where business meets great bookkeepers. To get your
copy of The 9 Disastrous Mistakes Most Freelance Bookkeeper’s Make in
Business (and How You Can Avoid Them!) visit http://www.bkpr-network.com
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