There are essentially two types of businesses: hobby businesses and gotta-make-m.o.n.e.y-businesses.
If you have a hobby business and that works for you, then this article doesn’t pertain to you (you can read it anyway if you wish).
If you have a gotta-make-m.o.n.e.y-business however, you want to read on. . .
If you have 2- or 4-legged children, you know adorable and frustrating they can be at times.
While immersed in preparing for the first day of my Escalator Profits™ program, my Llasa Apso Buddy was being a royal brat. He had food, water, a toy, I played with him. . .none of it mattered. He wanted to be in my lap.
Couple that with Junior (a cat) who insisted on sprawling across my desk using my keyboard as a pillow.
Even explaining that “mommy has to work” didn’t work.
And that’s when I started to think about how our businesses can resemble either babies or pets. And that, I’m happy that I had a business baby and not a business puppy.
Babies and puppies are similar in lots of ways:
They are totally adorable and everyone asks how they are
- You want to spend a lot of time with them
- They both want and need a lot of attention
- You have to teach/train them
- Messes happen and you clean them up
There is, however, one major difference:
Babies grow up, move out, take care of themselves and often take care of you.
Puppies grow up, stay around and require additional care as they get older.
I’m thrilled to say that, in this case, I had a baby (business) who is now enjoying high school and getting ready to go out on her own.
Which best describes your business: baby or puppy?
Make It Real: My Request To You
Chances are, you’re still asking yourself whether you have a “baby” or “puppy” business.
Here are a few clarifying questions to help you:
A prospective client calls. Do you have a system for how to handle the inquiry or do you wing it?
- You’re on vacation (maybe I should just stop there). Are you enjoying or constantly checking up on things?
- Does your revenue stay consistent/increase or dip while you’re on vacation?
- Do you wake up to emails which state “New order was placed” at least 3-4 days a week or. . .not?
- When you think of your business 3-5 years from now, do you smile or do your shoulders drop thinking of all the work you’ll be doing or do you question whether you’ll even be in business?
Baby businesses steadily improve, in all ways: profits, leverage, time off for you. Puppy businesses don’t and, in most cases, end up closing.
So ask yourself: Do you have a baby or a puppy?
If a puppy, or even a toddler, you’ll want to join me in Rhode Island this October.
If inspired, I’d love to read your thoughts about today’s article. . .just comment below.