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Hobby or Business?
I started trying to turn my hobby into a real live business about 6 or 7 months ago. I had been sewing and selling things for many years and had been happy to just make enought to buy more fabric. I finally came to understand that just covering the costs of the materials and having a little extra to buy more with was not really a business. If you are creating and selling items you are not really "in business" unless you are also figuring in things like rent, electric, phone, etc. I couldn't understand why I didn't seem to have any money, even though sales were going really well. After sitting down and doing a little simple math, I totally understand now and have had to make some changes. Be sure to look at the big picture and pay yourself fairly! |
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May, 2012
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