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By Rebekah L. Pierce, Author, Playwright
& Entrepreneur
www.ThePierceAgencyLLC.com
www.RebekahLPierce.com
Your hobby is bringing in more income than your JOB. But are you sure it's time to quit your day job? In this interactive session, we will look at three key strategies to insuring that your hobby is indeed a profitable business venture, guaranteed to bring in sustainable income during this economic rollercoaster we are all riding on. We will also take a closer look within ourselves to ensure that we are in fact ready emotionally and physically to go from part-time work to full-time money.
You've done it now!
Why now? Be very honest with yourself about this
How are you different from your competitors?
How have you differentiated yourself from the pack?
Have you updated or even created a business plan? You need to ASAP!
What money have you saved to sustain your business for at least 6 months to a year?
Because this is No longer a hobby; now, it’s business!
Get a business license ASAP!
From Hobby to Business
Who is your best client? Why? What keeps them
coming back to you?
Do you have enough “work” coming from your best client(s) to sustain your business?
Has your best client(s) given qualified referrals? If so, are they now long-term clients?
Send them the news you are full-time FIRST!
Ask for testimonials to place on your website
Give them a special gift as thanks for their support
Strategy #1: Find Your Best Client
Strategy #1 continued
How many clients do you need weekly, monthly and yearly to not only sustain growth, but to increase in growth?
Get a business coach/financial advisor to help you work this info out
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2011 2012 2013 2014
Hats
Dressses
Gloves
Do you have a network? Consists of peers,
supporters as friends/family, memberships in professional organizations
How are you using your network to help you branch out full-time?
How have you told them your intentions?
What are the tools you are using to grow your network?
Again, who is your biggest competitor? Why?
You must be STRATEGIC!
Strategy #2: Tap into Your Network
Why social networking? Do you need it? Do you
really have to do it?
An instant audience, but consistency in posting & sharing newsworthy info is key to success
It’s cost effective if not FREE!
“be strategic and consider what makes sense given your target audiences, business goals, and resources available” (http://www.womensbusinessresearch.org/)
Strategy #3: Social Networking
Strategy #3 continued
Facebook fan page/business page -www.facebook.com
Twitter account –www.twitter.com
LinkedIn –www.linkedin.com
Blogging –www.wordpress.com
Hire someone (or bring in an intern) if you can to do this for you
Are You Ready?
Current national unemployment rate is 5.0% (http://www.unemployment-extension.org/unemployment-
rate.php)
In VA, it is 4.2% (http://www.deptofnumbers.c
om/unemployment/virginia/)
Emotionally – a hobby was part-time and something
you did because you thoroughly enjoyed doing it –there was no stress nor financial risk
Physically – business is stressful – exercise/eat right
Spiritually – not everyone has your best interests at heart, nor do they “serve the Lord”
Financially – the “JOB” is no longer your safety net –steady paycheck is GONE – a serious risk – do you have health/life/business insurance?
Are You Ready? continued
Women Who Wow! – www.womenwhowow.com
Tory Johnson – Women for Hire & Spark & Hustle www.womenforhire.com and www.sparkandhustle.com
Community Business Partnership –www.cbponline.org
Women Success –http://www.womenssuccessconference.com/
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